Commercial Property
False
The property occupies a prominent position fronting the main A34 High Street, adjacent to a Wetherspoons Pub and close to a large Asda Superstore. Bloxwich Hall, Hospital and Leisure Centre are all within close proximity.
The property comprises a traditional three storey semi detached retail premises with living accommodation on the upper floors, being of brick construction with a pitched tiled roof.
Divided internally to provide a retail area with ancillary store and WC, whilst on the first floor are two bedsits with a further bedsit on the second floor.
Whilst one of the bedsits is occupied the two vacant bedsits require fitting out and redecoration. Alternatively the upper floor accommodation could be reconfigured to provide a self-contained flat subject to obtaining any appropriate planning permission.
A Freehold Town Centre Mixed Retail and Residential Investment comprising a Retail Unit on the Ground Floor and Three Bedsits, with the opportunity to increase future income
Current Rental Income: £7,298 pa
[b]Ground Floor Retail Unit[/b] - Let by way of a 3 year Lease with effect from the 14th November 2014 at a current rent of £5,634 per annum.
[b]First Floor Bedsit[/b] - Let by way of an Assured Shorthold Tenancy from the 1st April 2016 at a rental of £1,664.28 per annum.
There are two further bedsits which need fitting out but offer the opportunity to increase rental income. These will be available with vacant possession upon completion.
We understand that the property is Freehold subject to the following tenancies.
We understand that VAT will not be chargeable on this transaction.
Strictly by arrangement with the Auctioneers.
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