Lot 76
    Block of Apartments
    John Garth House & Insurance House
    Engine Lane, Stourbridge, West Midlands, DY9 7DF
    Sold for £550,000
     
    Number 1
    A Residential Investment Opportunity Comprising Two Detached Buildings Arranged as Three Self-Contained Flats Providing 15 En-Suite HMO Rooms. Fully Let Producing a Combined Income of £84,660 Per Annum. Further Development Potential (Subject To Obtaining All Relevant Consents).

    Description

    The lot comprises two detached part single and part two storey buildings which have been arranged to provide three self-contained flats each made up of five bedrooms with en-suites. The properties were fully converted into residential dwellings in 2018 and were refurbished to a high standard.

    Tenure

    The lot is held on two freehold titles

    Location

    The property is situated in a mixed residential & commercial area close to the local shops and amenities of Lye High Street. The Intu Merry Hill Shopping Centre is approximately 2 miles away. Transport links are provided by Lye rail station.

    Exterior

    The property benefits from 15 parking spaces.

    Tenancy

    Please refer to the legal pack for a full tenancy schedule.

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Tenancy Details Current Annual Rent
    John Garth House - Flat 1 Ground 5 Bedrooms with En-Suites & Shared Kitchen 5 Individual Tenancies £27,564
    John Garth House - Flat 2 First 5 Bedrooms with En-Suites & Shared Kitchen 5 Individual Tenancies £28,164
    Insurance House - Flat 3 Ground
    First
    4 Bedroom with En-Suites & Shared Kitchen
    1 Bedroom with En-Suite
    5 Individual Tenancies £28,932
    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
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    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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