Mixed Use
An investment opportunity located along Long Lane, Halesowen comprising four commercial units and seven residential units with a current rental income of £64,000 having one vacant residential unit. Fully let and with potential for rental increase circa £75,000 with minimal risk and management. We advise interested parties to inspect the legal pack for more information.
The accommodation comprises a two-story detached building named Clarage house set back from Long Lane, Halesowen; benefitting from on street parking to the front. The area comprises a mixture of both residential and commercial units including national retailers such as Costco and F1 Autocentre all within the immediate vicinity. Blackheath is less than a mile from the property with Halesowen, Quinton and Birmingham City centre all within a short drive or bus journey.
Held on a five year lease from 8/5/2021 at £8,000 per annum.
Held on a five year lease from 16/4/2016 at £6,000 per annum.
Held on a 15 Year lease from 01/03/2017 at £6,000 per annum, now rolling over.
£6,500(year one), £6,800(year two), £7,200(year three) on a five year term(completion 24/03/2023)
£26,500 per annum rising to £27,500 per annum. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Held on an AST one year from 01/07/22 with a rent passing of £6,900 per annum.
Held on an AST from 25/03/23 with rent passing £7200 per annum.
Currently vacant(£6,000 estimated rental value) and has just been refurbished.
Held on an AST(rolling) from 27/08/22 with rent passing £5,100 per annum.
Held on an AST for 1 year from 01/04/22 with rent passing £5,100 per annum.
Held on an AST(rolling - due to end in August 2023) with rent passing £6600 per annum.
Held on an AST(rolling) with rent passing £6,600 per annum.
£37,500 rising to £43,500(upon letting of 2b). Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
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 (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
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 £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
Guide Price & Reserve Price
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.
