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Colley Lane, Halesowen, B63
A FREEHOLD COMMERCIAL INVESTMENT WITH 2 SHOPS AND 2 SELF CONTAINED FLATS (1x 1 Bedroom & 1x 2 Bedroom Flat) ON UPPER PARTS WITH A CURRENT GROSS RENTAL INCOME OF £24,400 per annum
PROPERTY DESCRIPTION
The property comprises of a two storey terraced building of brick construction surmounted by a pitched roof. Benefiting from 2 commercial investment premises to the ground floor and a further 2 self-contained one bedroom and two bedroom flat to the first floor.
LOCATION
Approximately 7 miles from Birmingham City Centre and is just minutes away from junction 3 of the M5 motorway giving access to the greater motorway network all around the West Midlands.
ACCOMMODATION
65 Colley Lane
Ground Floor (Hair dressers) – Retail premises with storage space, kitchen and W/C (363 Sq Ft)
First Floor (1 Bedroom Flat) – Self-contained first floor flat, double bedroom, living area, kitchen and bathroom
67 Colley Lane
Ground Floor (off Licence) – off licence premises with storage space, kitchen and W/C (410 Sq Ft)
First Floor (2 Bedroom Flat) – Self-contained first floor flat, double bedroom, living area, kitchen and bathroom
Outside – Side entry to rear yard and garden, very old knockdown building at rear interested parties can enquire for further planning or development
TENURE – We understand the property is Freehold and subject to the following leases:
65 Colley Lane
Ground floor – let on a lease until 2024 current rent passing £9100 per annum (Established hairdressers with same tenants for over 15 years)
First Floor – let on an assured shorthold tenancy at a current rent passing £4500 per annum
67 Colley Lane
Ground floor – let on a lease until 2028 at a current rent passing £6000 per annum, please note there is a rent review in 2023
First Floor – let on an assured shorthold tenancy at a current rent passing £4800 per annum (Off licence for over 12 years)
Currently let with an income of £24,400 however the property has potential to increase this rental figure
VALUE ADDED TAX – We understand that NO VAT will be chargeable on this transaction.
BIDDING
For bidding please visit: www.underthehammer.com
*START PRICES & RESERVE PRICES
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Start Price. The Start Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest.
VIEWING DETAILS
By arrangement with the partner agents or contact 03455 120 115.
EPC
EPCs can be viewed in full on our website www.underthehammer.com on the sales details page or in the legal pack.
UNCONDITIONAL AUCTION DETAILS
Contracts are exchanged immediate at the end of the auction and a 5% deposit will be taken from the highest bidder. THIS DEPOSIT WILL CONTRIBUTE TOWARDS THE PURCHASE PRICE.
Completion will be 8 weeks, which means interested parties can proceed with traditional residential finance.
Every buyer must first create an account at www.underthehammer.com/account/create/ Remote bidding facilities are also available, contact the auction office for further details.
FULL TERMS & LEGAL DOCUMENTS
Available at www.underthehammer.com
EPC
Map
Street View
Under the Property Misdescription Act 1991 we endeavour to make our sales details accurate and reliable but they should not be relied upon as statements or representations of fact and they do not constitute any part of an offer of contract. The seller does not make any representations to give any warranty in relation to the property and we have no authority to do so on behalf of the seller. Services, fittings and equipment referred to in the sales details have not been tested (unless otherwise stated) and no warranty can be given as to their condition. We strongly recommend that all the information which we provide about the property is verified by yourself or your advisers. Under the Estate Agency Act 1991 you will be required to give us financial information in order to verify you financial position before we can recommend any offer to the vendor.
Colley Lane, Halesowen, B63
A FREEHOLD COMMERCIAL INVESTMENT WITH 2 SHOPS AND 2 SELF CONTAINED FLATS (1x 1 Bedroom & 1x 2 Bedroom Flat) ON UPPER PARTS WITH A CURRENT GROSS RENTAL INCOME OF £24,400 per annum
PROPERTY DESCRIPTION
The property comprises of a two storey terraced building of brick construction surmounted by a pitched roof. Benefiting from 2 commercial investment premises to the ground floor and a further 2 self-contained one bedroom and two bedroom flat to the first floor.
LOCATION
Approximately 7 miles from Birmingham City Centre and is just minutes away from junction 3 of the M5 motorway giving access to the greater motorway network all around the West Midlands.
ACCOMMODATION
65 Colley Lane
Ground Floor (Hair dressers) – Retail premises with storage space, kitchen and W/C (363 Sq Ft)
First Floor (1 Bedroom Flat) – Self-contained first floor flat, double bedroom, living area, kitchen and bathroom
67 Colley Lane
Ground Floor (off Licence) – off licence premises with storage space, kitchen and W/C (410 Sq Ft)
First Floor (2 Bedroom Flat) – Self-contained first floor flat, double bedroom, living area, kitchen and bathroom
Outside – Side entry to rear yard and garden, very old knockdown building at rear interested parties can enquire for further planning or development
TENURE – We understand the property is Freehold and subject to the following leases:
65 Colley Lane
Ground floor – let on a lease until 2024 current rent passing £9100 per annum (Established hairdressers with same tenants for over 15 years)
First Floor – let on an assured shorthold tenancy at a current rent passing £4500 per annum
67 Colley Lane
Ground floor – let on a lease until 2028 at a current rent passing £6000 per annum, please note there is a rent review in 2023
First Floor – let on an assured shorthold tenancy at a current rent passing £4800 per annum (Off licence for over 12 years)
Currently let with an income of £24,400 however the property has potential to increase this rental figure
VALUE ADDED TAX – We understand that NO VAT will be chargeable on this transaction.
BIDDING
For bidding please visit: www.underthehammer.com
*START PRICES & RESERVE PRICES
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Start Price. The Start Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest.
VIEWING DETAILS
By arrangement with the partner agents or contact 03455 120 115.
EPC
EPCs can be viewed in full on our website www.underthehammer.com on the sales details page or in the legal pack.
UNCONDITIONAL AUCTION DETAILS
Contracts are exchanged immediate at the end of the auction and a 5% deposit will be taken from the highest bidder. THIS DEPOSIT WILL CONTRIBUTE TOWARDS THE PURCHASE PRICE.
Completion will be 8 weeks, which means interested parties can proceed with traditional residential finance.
Every buyer must first create an account at www.underthehammer.com/account/create/ Remote bidding facilities are also available, contact the auction office for further details.
FULL TERMS & LEGAL DOCUMENTS
Available at www.underthehammer.com