Residential Development
The property comprises a two storey brick built former public house with the benefit of planning permission for the creation of a 6 bedroomed house of multiple occupation. We have been advised that once developed there could be a potential gross income of circa £28,000 per annum based on the property being fully let.
Full planning permission has been approved by Dudley Metropolitan Borough Council with conditions for change of use of the former public house (A4) into a 6no. bed house of multiple occupation under reference P18/0668 dated 13 July 2018. Interested parties are advised to inspect the legal pack and enquiries should be directed to the Local Authority Tel: 01384 814136.
The Property is located along Church Street close to the High Street and the A461 Bypass, benefiting from excellent rail and bus links to nearby Stourbridge, Merry Hill shopping centre and Birmingham city centre. The area has a huge demand for affordable accommodation with large employers with a short distance including the Russell Hall Hospital, Merry Hill centre and the Waterfront development.
We understand that VAT will not be chargeable on this transaction.
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
