Under offer
- Freehold Investment Property.
- Ground Floor Commercial Premises & Two Flats.
- Situated Within Walking Distance of Kidderminster Town centre & Railway Station.
- Potential Gross Rental Income of £22,620 Per Annum.
For Sale - Freehold mixed use commercial and residential investment property. Ground floor shop/beauty premises (Business unaffected) and two flats above. Situated on Comberton Hill, a busy trunk road close to Kidderminster Railway Station and within walking distance of the Town centre. Potential gross rental income when fully let of £22,620 per annum, giving a gross yield of 11.31% before costs.
Commercial Premises
New lease agreed for 5 year term with a 3 year break clause and rent review. Current rental income of £10,740 per annum.The premises comprise of: Reception area, front treatment room and two rear treatment rooms. To the lower ground floor is a tanning room, store room/further treatment room, kitchenette, toilets and cellar. Entrance level approximate net internal area 415 sq ft / 38 sq mt. Lower ground floor approximate net internal area 369 sq ft / 34 sq mt.
Communal Entrance
Stairs to first floor.
Flat 27A
First floor flat. The accommodation comprises: entrance hall, lounge, kitchen, bedroom and shower room. The accommodation benefits from Upvc double glazed windows and electric heaters.Currently let on assured shorthold tenancy with a current rental income of £415 per month.
Flat 27B
Top floor flat. The accommodation comprises: open plan living kitchen, bedroom and shower room. Currently vacant. The accommodations benefits from Upvc double glazed windows and electric heaters.Potential rental income of £575pcm.
Outside
Rear garden/courtyard area with access via the kitchenette in the commercial premises.
Agent's Note
There are two allocated off road parking spaces located to the rear of the premises with access via shared right of way off Cherry Orchard. A contribution towards the maintenance of the rear car park is payable. These are not included in the sale price but are available by separate negotiation.
Business Rates
The current rateable value for the commercial part of the premises is £5,700.
Energy Performance Certificate
EPC rating for the commercial shop premises is D.EPC rating for flat 27A is E.EPC rating for flat 27B is C.
V.A.T Payable
V.A.T. will not be charged on the purchase price.
Tenure & Possession
The property is freehold and subject to a sitting tenant in the commercial premises and one flat.
Services
Mains water, electricity, gas and drainage are connected. We have not tested any apparatus, fixtures, fittings or services and we cannot verify that they are in working order, correctly installed or fit for the purpose. Prospective tenants are advised to obtain verification from their solicitor, surveyor or specialist contractor as appropriate.
Fixtures & Fittings
Any fixtures and fittings not mentioned in these sale particulars are excluded from the sale.
Viewing
By prior appointment with Doolittle & Dalley 01562 821600.
Council Tax Band
Flat 27A council tax band 'A' as at 22.11.2023.Flat 27B council tax band 'A' as at 22.11.2023.
Reference: RDH.LP.22.11.2023
Money Laundering Regulations 2003
We are governed by the Anti-money Laundering Legislation and are obliged to report any knowledge or suspicion of money laundering to the National Criminal Intelligence Service. Therefore if you purchase this property you will be required to produce photographic identification and a utility bill for your current address in accordance with this Act. Without identification a sale cannot proceed.
Valuation Advice for Prospective Purchasers
If you have a property to sell we can provide you with a Free Market Appraisal and marketing advice without any obligation.
Misrepresentations Act
Messrs. Doolittle & Dalley for themselves and for the vendors/lessors of this property whose agents they are, give notice that:- 1.These particulars do not constitute, or constitute any part, of an offer or a contract. 2.All statements contained in these particulars as to this property are made without responsibility on the part of Messrs. Doolittle & Dalley or the vendor. 3.None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. 4.Any intending purchaser must satisfy him/herself by inspection or otherwise, as to the correctness of each of the statements contained in these particulars. 5.The vendor does not make or give and neither Messrs. Doolittle & Dalley or any person in their employ has any authority to make or give any representation or warranty whatever in relation to this property.
Location
City/Town
