Auction House London

Lot 51

Flat - Flats / Apartments 

244 Castle Street

Dudley, West Midlands, DY1 1LQ

Unsold. Please refer to Auctioneer for Reserve

A Recently Developed Spacious Investment Opportunity Comprising the First & Second Floors of a Substantial Corner Building Arranged as 7 Ensuite HMO Rooms on the First Floor and 5 Self Contained Studio Apartments on the Second Floor. Currently Producing a Combined Income of £53,940 Per Annum with Two Units Vacant. Estimated Rental Value when Fully Let is £64,140 Per Annum.

Description

Tenure

Long Leasehold. The property is held on a 999 year lease from 29th September 2014 (thus approximately 994 years unexpired).

Location

The property occupies a prominent corner position in Dudley Town Centre at the junction of Castle Street and New Street. The development is a minute walk from Dudley Central Bus Station. Rail links are provided by Dudley Port and Sandwell and Dudley stations. The open spaces of Coronation Gardens & Dudley Zoological Gardens are within easy reach.

Accommodation

First Floor
Seven Ensuite Bedrooms, Communal Reception, Kitchen & Dining Rooms

Room 1 Let for £475 pcm
Room 2 Let for £400 pcm
Room 3 Let for £425 pcm
Room 4 Vacant (ERV £400 pcm)
Room 5 Let for £470 pcm
Room 6 Let for £450 pcm
Room 7 Let for £475 pcm

Second Floor
Five Self Contained Studio Apartments

Studio 1 Let for £475 pcm
Studio 2 Let for £475 pcm
Studio 3 Let for £425 pcm
Studio 4 Let for £425 pcm
Studio 5 Vacant (ERV £450 pcm)

Current Rent Reserved

Combined Current Rent £4,495 per calendar month with two units currently vacant.

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve ( a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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Open House Viewings:
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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