3 x two bedrooms
5 x 1 bedroom
FREEHOLD
3 x Commercial Retail Shops
Residential Rent Roll £55,200
Commercial Rent Roll £18,040
Ideal Bolt Purchase
Property Description
The property comprises a prominent part three storey corner building, providing three retail units and eleven recently converted well presented self-contained apartments, with 3 x two bedrooms and 5 x 1 bedroom. The apartments benefit from UPVC double glazing, wall mounted electric heaters, modern kitchen and bathroom facilities, telephone entry system, carpeting and floor coverings. On the gable wall there is an advertising hording.
Location
The property occupies a corner position in the heart of Brierley Hill town centre with a frontage to High Street providing access to the three retail units and a return frontage to Moor Street giving access to Kingston House comprising the eleven apartments.
The property is conveniently located for local shopping and other amenities including the neighbouring Moor Centre which includes Poundland, Iceland, Superdrug and Card Factory, whilst the Merryhill Shopping Centre and Waterfront Developments are within close proximity.
Brierley Hill will benefit from the expanding Metro System with current proposals indicating enhancement of the High Street and the immediate vicinity.
Brierley Hill is situated approximately 2.5 miles south of central Dudley and 2 miles north of Stourbridge.
Energy Performance Rating
See legal pack.
Tenure
Freehold – subject to the schedule below. It should be noted that 95 High Street and Flats 9 & 10 Kingston House have been sold subject to Leases for 125 years, expiring in 2146 and 2144 respectively, with the ground rent payable to the Freeholder.
All other flats are available with tenants in Situ. Full details relating to tenure will be available within the legal pack.
Kingston House
Flat 1 2 bedrooms Tenant in Situ £8,400 pa (£700 pcm)
Flat 2 1 bedroom The property has been sold leasehold subject to a lease for 125 years, expiring on 31st December 2144. Ground Rent of £81.50
Flat 3 1 bedroom Tenant in Situ £5,760 pa (£480 pcm)
Flat 4 1 bedroom Tenant in Situ £6,600 pa (£550 pcm)
Flat 5 2 bedrooms Tenant in Situ £8,100 pa (£675 pcm)
Flat 6 1 bedroom Tenant in Situ £5,940 pa (£495 pcm)
Flat 7 2 bedrooms Tenant in Situ £7,200 pa (£600 pcm)
Flat 8 1 bedroom Tenant in Situ £6,600 pa (£550 pcm)
Flat 9 1 bedroom The property has been sold leasehold subject to a lease for 125 years, expiring on 31st December 2144. Ground Rent of £81.50
Flat 10 1 bedroom The property has been sold leasehold subject to a lease for 125 years, expiring on 31st December 2144. Ground Rent of £81.50
Flat 11 1 bedroom Tenant in Situ £6,600 pa (£550 pcm)
Total Estimated Rental Value: £55,200
Commercial:
High Street
91 High Street 829 sq.ft. Let by way of a lease for 3 years with effect from 31st May 2021. £10,000 pa
93 High Street 527 sq.ft. Let by way of a 6 year lease with effect from 1st November 2018. A rent review is due on the 31st October 2021. £7,000 pa
95 High Street 700 sq.ft. The property has been sold leasehold subject to a lease for 125 years with effect from 16th April 2021. Ground Rent of £65 pa
Advertising Hoarding - Let for a term of 1 year from 29th July 2009 (currently holding over). (Potentially due to digital sign - £3,000 from Clear Channel - Planning Application in)
Total Estimated Rental Value: £18,040
For more information or to book a viewing please contact the Commercial Sales Team on the details below.
IMPORTANT NOTICE FROM IMPERIAL PROPERTIES
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.