3 bed end terrace house for sale

Old Park Road, Wednesbury WS10

Summary
**investment opportunity** Located in Wednesbury! Ideally situated close to J10 of M6 and close to local amenities

description
Investment opportunity comprising 3 bedroom house, ground floor retail shop/office premises, 5 workshops and 15 lock up garages (all individually rented out) and rear parcel of land currently utilised for caravan storage with approximately 90 pitches, the whole encompassing around 1.48 acres and generating a rental income of £78,000 a year. The site would also lend itself to alternative development opportunities (subject to planning permission).

Auctioneer's Comments
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.

The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer.

The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

House

Entrance Hall
door to lounge and stairs to landing

Lounge 14' max x 12' 1" ( 4.27m max x 3.68m )
2 x side aspect windows, doors to reception room and radiator.

Reception Room 13' 8" max x 12' 1" ( 4.17m max x 3.68m )
Side aspect window

Kitchen 9' 8" x 16' 7" ( 2.95m x 5.05m )
Side aspect window, wall and base units, sink and drainer, space for oven and fridge freezer.

Bedroom One 8' 5" x 13' 1" ( 2.57m x 3.99m )
Front aspect window and radiator.

Bedroom Two 9' 8" x 13' 1" ( 2.95m x 3.99m )
Rear and side aspect window and radiator.

Bedroom Three 6' 2" x 10' 4" ( 1.88m x 3.15m )
Front aspect window and radiator.

Bathroom
Heated towel rail, bath with shower over, radiator, part tiled walls and w/c.

Retail Shop 16' 7" x 16' 4" ( 5.05m x 4.98m )
With street access off Old Park Road and front aspect window.

External Yard
The site occupies an area of approximately 1.2 acres and comprises a rear yard currently utilised for caravan storage with proxy 90 pitches. 15 lock up garages & 5 workshops currently all sub-let,

Storage Room 13' 1" x 22' 9" ( 3.99m x 6.93m )
Access via rear yard.

Additional Notes
Garages, workshops and caravan storage at the back are rented out to individuals and bring in around 78k a year! Also a shop/office at the front of the property is also rented out to an individual

Rental Income
We are advised by the vendors that the retail shop, workshops, garages and caravan storage are generating a combined income of approximately. £78,000 pa representing an investment yield of around 10%.

Agent Note
We are advised by the vendor that there is hazardous material to the rear out buildings and that historically the site was used for dispensing of fuel. We ask that all necessary enquires are raised before proceeding to expend costs.

1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.