Equitable House - OnTheMarket
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IMPORTANT NOTE - These particulars are not to form part of a Sale Contract owing to the possibility of errors and/or omissions. Prospective purchasers should therefore satisfy themselves by inspection, survey or otherwise as to the correctness of each of them. All fixtures, fittings, chattels and other items not mentioned are specifically excluded unless otherwise agreed within the Sale Contract documentation or left in situ and gratis upon completion. The property is also sold subject to rights of way, public footpaths, easements, wayleaves, covenants and any other matters which may affect the legal title. The Agent has not formally verified the property’s structural integrity, ownership, tenure, acreage, estimated square footage, planning/building regulations’ status or the availability/operation of services and/or appliances. ) No person in employment of the Lex Allan Group has any authority to make or give representation or warranty whatsoever in relation to this property. The photographs (or artists impression) show only certain parts of the property at the time they were taken. Prospective purchasers must satisfy themselves on the condition of fireplaces, stoves, log burners, flues and such items or by way of survey. Whilst we endeavour to make our Sales Particulars accurate and reliable, if there is any point which is of particular importance to you, please contact the Office and we will be pleased to check the information for you prior to travelling and therefore prospective purchasers are advised to seek validation of all the above matters prior to expressing any formal intent to purchase. Lease details are believed correct at the time particulars are printed, but service charges are subject to variation.
The Auction House 87/88 St Johns Road Stourbridge DY8 1EH www.lexallan.co.uk [email protected]
Tel 01384 379450
A VALUABLE INVESTMENT OPPORTUNITY SEVEN ONE & TWO BEDROOM APARTMENTS WITH A COMBINED FULL OCCUPANCY INCOME OF £41,040 PER ANNUM (6.6% YIELD)
‘EQUITABLE HOUSE’ 82 BRIDGNORTH RD WOLLASTON STOURBRIDGE DY8 3PA
‘Equitable House’ 82 Bridgnorth Road Wollaston DY8 3PA FOR SALE BY AUCTION - TERMS This property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer’s solicitors is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non refundable Reservation Fee of 3.5% subject to a minimum of £6,000 inc VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgment of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department.
Apartment 1 1 bed £460 pcm Tenanted since July 2015 Apartment 2 1 bed £460 pcm Tenanted since Dec 2015 Apartment 3 1 bed £475 pcm Tenanted since Aug 2017 Apartment 4 2 bed £550 pcm Tenanted since Sept 2016 Apartment 5 2 bed £500 pcm Tenanted since June 2015 Apartment 6 2 bed £500 pcm Tenanted since July 2014 Apartment 7 1 bed £475 pcm Tenanted since April 2017 Total income of £41,040 per annum, giving a gross yield of 6.6%
Converted in 2006 to provide seven self contained one and two bedroom apartments with adjacent parking front and rear, the apartments sit in the centre of Wollaston village which offers a host of excellent amenities covering most day to day needs. Nearby commercial centres in and around the Black Country and North Worcestershire are easily accessed. The apartments have been managed by Lex Allan Ltd since 2008 and have achieved almost full occupancy over this period. The apartments are regularly inspected and maintenance matters dealt with promptly resulting in the individual flats being well presented and there are no obvious capital repairs outstanding to the interior or exterior.
FLAT 1
FLAT 2
FLAT 3
FLAT 4
FLAT 5
FLAT 6
The property currently has full occupancy and offers a total income of £41,040 per annum providing a gross yield in excess of 6%. Interested parties should contact Lex Allan in the first instance for additional information or to arrange viewings but should also contact West Midland Property Auctions (IamSold) on 0121 366 0539 to view auction packs and be registered to bid.
STREET SCENE FLAT 7
www.lexallan.co.uk
IMPORTANT NOTE - These particulars are not to form part of a Sale Contract owing to the possibility of errors and/or omissions. Prospective purchasers should therefore satisfy themselves by inspection, survey or otherwise as to the correctness of each of them. All fixtures, fittings, chattels and other items not mentioned are specifically excluded unless otherwise agreed within the Sale Contract documentation or left in situ and gratis upon completion. The property is also sold subject to rights of way, public footpaths, easements, wayleaves, covenants and any other matters which may affect the legal title. The Agent has not formally verified the property’s structural integrity, ownership, tenure, acreage, estimated square footage, planning/building regulations’ status or the availability/operation of services and/or appliances. ) No person in employment of the Lex Allan Group has any authority to make or give representation or warranty whatsoever in relation to this property. The photographs (or artists impression) show only certain parts of the property at the time they were taken. Prospective purchasers must satisfy themselves on the condition of fireplaces, stoves, log burners, flues and such items or by way of survey. Whilst we endeavour to make our Sales Particulars accurate and reliable, if there is any point which is of particular importance to you, please contact the Office and we will be pleased to check the information for you prior to travelling and therefore prospective purchasers are advised to seek validation of all the above matters prior to expressing any formal intent to purchase. Lease details are believed correct at the time particulars are printed, but service charges are subject to variation.
The Auction House 87/88 St Johns Road Stourbridge DY8 1EH www.lexallan.co.uk [email protected]
Tel 01384 379450
A VALUABLE INVESTMENT OPPORTUNITY SEVEN ONE & TWO BEDROOM APARTMENTS WITH A COMBINED FULL OCCUPANCY INCOME OF £41,040 PER ANNUM (6.6% YIELD)
‘EQUITABLE HOUSE’ 82 BRIDGNORTH RD WOLLASTON STOURBRIDGE DY8 3PA
‘Equitable House’ 82 Bridgnorth Road Wollaston DY8 3PA FOR SALE BY AUCTION - TERMS This property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer’s solicitors is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non refundable Reservation Fee of 3.5% subject to a minimum of £6,000 inc VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgment of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department.
Apartment 1 1 bed £460 pcm Tenanted since July 2015 Apartment 2 1 bed £460 pcm Tenanted since Dec 2015 Apartment 3 1 bed £475 pcm Tenanted since Aug 2017 Apartment 4 2 bed £550 pcm Tenanted since Sept 2016 Apartment 5 2 bed £500 pcm Tenanted since June 2015 Apartment 6 2 bed £500 pcm Tenanted since July 2014 Apartment 7 1 bed £475 pcm Tenanted since April 2017 Total income of £41,040 per annum, giving a gross yield of 6.6%
Converted in 2006 to provide seven self contained one and two bedroom apartments with adjacent parking front and rear, the apartments sit in the centre of Wollaston village which offers a host of excellent amenities covering most day to day needs. Nearby commercial centres in and around the Black Country and North Worcestershire are easily accessed. The apartments have been managed by Lex Allan Ltd since 2008 and have achieved almost full occupancy over this period. The apartments are regularly inspected and maintenance matters dealt with promptly resulting in the individual flats being well presented and there are no obvious capital repairs outstanding to the interior or exterior.
FLAT 1
FLAT 2
FLAT 3
FLAT 4
FLAT 5
FLAT 6
The property currently has full occupancy and offers a total income of £41,040 per annum providing a gross yield in excess of 6%. Interested parties should contact Lex Allan in the first instance for additional information or to arrange viewings but should also contact West Midland Property Auctions (IamSold) on 0121 366 0539 to view auction packs and be registered to bid.
STREET SCENE FLAT 7
www.lexallan.co.uk
