High Street - £335,000

Quarry Bank, Brierley Hill, West Midlands, DY5 2AA

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£335,000

 

High Street

 

Commercial Property

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  Price: £335,000
  Property Type: Commercial Property

Features

INVESTMENT/REDEVELOPMENT OPPORTUNITY

FREEHOLD

PLANNING CONSENT FOR A1 RETAIL & A3 RESTAURANT

PART INCOME PRODUCING

MULTIPLE BUILDINGS

REAR ACCESS & CAR PARKING

Description

Retail / A3 / Residential / Offices / Investment / Development Opportunity

DESCRIPTION

The property currently comprises an extensive double retail unit with two one bedroom flats above (Let). The retail unit extends into an attached two storey building currently utilised for offices and workshop this is accessed via Victoria Road and has parking for approximately 7 vehicles - this has a lapsed planning consent for conversion to 2 flats (P13/0867 dated October 2013)

The main retail unit has planning consent for change of Use from the current A1 retail to A3 Restaurant / cafe. (P16/1125 dated May 2016 - by Appeal)

The connecting single storey unit is capable of extension to form first floor residential uses - subject to Planning Consents.

INVESTMENT OPPORTUNITIES

▪ Retail / Restaurant / Showroom

▪ Residential conversion of Victoria Road

▪ Office Conversion of Victoria Road

▪ Residential Conversion with small retail units

▪ Splitting Site into 2 separate properties

TENURE

We understand the property is freehold. The two one bedroom flats are let on Assured Short hold Tenancies to established Tenants of 3 years plus at £375 per calendar month each (total annual rental = £9,000)

BUSINESS RATES

The properties are subject to Business Rates. The current rateable values (2017) are £10,750. The Flats are both Council Tax Band C Any prospective purchaser should confirm rates liability with the Local Authority.

PRICE

Offers are invited in the region of £350,000 for the freehold interest, subject to contract only.

LEGAL COSTS

Each party to pay all own costs in respect of this transaction.

PROPERTY BOUNDARY

This is shown edged red on the attached aerial image (not to scale and only approximate)

PLANNING

Prospective Purchasers are advised to satisfy themselves regarding current or intended uses of the property with the Local planning Authority - Dudley Metropolitan Borough Council. Informal discussions have taken place with the Planning officer who confirms that residential conversion would be supported , subject to planning applications

All plans and Planning information is available for download at our website at waltonandhipkiss.co.uk

BUSINESS RATES

The properties are subject to Business Rates. The current rateable values (2017) are £10,750. The Flats are both Council Tax Band C Any prospective purchaser should confirm rates liability with the Local Authority.

VIEWING

Full inspection viewings must be arranged with the Agents.

GENERAL TERMS

VAT

VAT is not payable on the purchase price.

Services

The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify they are in working order or fit for their purpose. The tenant is advised to obtain verification from their solicitor or surveyor.

References

The successful tenant / purchaser will need to provide either a satisfactory bank reference and / or two trade references for approval.

Money Laundering

The successful tenant will be required to submit proof of identity, in accordance with money laundering regulations.

Fixtures & Fittings

Any fixtures and fittings not expressly mentioned within these particulars are excluded from the transaction.

Areas & Dimensions

All areas and dimensions are deemed to be approximate only.

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