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Terms and Conditions

By submitting a bid you confirm, you have read and understood the terms of sale and special conditions in the legal pack and have clarified all information with your solicitor.

If you’re the successful bidder, you agree to pay the deposit amount and fees and charges associated with this property immediately after the end of the auction.

By placing a bid, you are authorising the auctioneer to sign the contract of sale on your behalf. The exchange of contracts will take place immediately and which point you will become legally bound to purchase and the deposit will contribute towards the purchase price.

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Mixed Use Investment, Oldbury, West Midlands, B69 4DS

Birmingham Street, Oldbury B69 4DS, UK

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£280,000

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End: 03-06-2021 12:00:00

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The sale of this lot is subject to an auction administration fee, the greater of £2,500 + VAT or 1.75% +VAT of the purchase price.
  • Freehold
  • Self Contained Upper Parts
  • Investment Property
Royal Estates Nationwide
0121 429 2030

Head Office, 464 Bearwood Road, Birmingham, B66 4HA

  • Freehold
  • Self Contained Upper Parts
  • Investment Property
Royal Estates Nationwide
0121 429 2030

Head Office, 464 Bearwood Road, Birmingham, B66 4HA

38, (Flats 1-5), 38a & 38b Birmingham Street, Oldbury, West Midlands, B69 4DS

Guide Price: £280,000 + 

A FREEHOLD MIXED USE INVESTMENT

 

 

Property Description

A Freehold Mixed use investment property consisting of (Two Commercial Retail Units), (Three 1 Bedroom Apartments) and (Two 2 Bedroom Apartments) the property is completely occupied and the breakdown is as followed. 

TENANCY SHEDULE AS OF 10/05/2021

Room Term Rental
     
38B Commercial Unit See legal pack £500 PCM - £6,000 PA
38A Commercial Unit See legal pack £350 PCM - £4,200 PA 
Flat 1  See legal pack £350 PCM - £4,200 PA 
Flat 2 See legal pack £450 PCM - £5,400 PA
Flat 3 See legal pack £350 PCM - £4,200 PA 
Flat 4 See legal pack £450 PCM - £5,400 PA
Flat 5 See legal pack £400 PCM - £4,800 PA
     
Total Gross Income:   £2,940PCM  - £34,200.00 PA

 

Please be aware that all the residential properties are subject to rent increases as the apartments are all on Rolling AST agreements. All residential properties have a separate access with communal hallway leading into each apartment via the front of the building. 

We have estimated that the potential rental income after rent increases would be £45,600. 

 

Energy Performance Rating

See Legal Pack

 

Auctioneers Note

The deposit for exchange of contracts on this property is 5% subject to a minimum of £5,000.

The completion period for this property is 8 weeks (56 days)

 

Starting Bid and Reserve Price

*The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction which is generally no more than 10% in excess of the guide price. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price. Reserve prices are subject to change up to the date of the auction. Please note that Lots may be withdrawn prior to the end of auction

 

Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firm’s employment has the authority to make or give any representation or warranty in respect of the property. If the property is currently occupied during the term of the auction but is to be sold with vacant possession, the auctioneer and selling agent take no responsibility if the property is not vacated on or before completion.

 

No floor plan added.
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