Under Offer - Investment

Residential Investment Property

LOCATION:  The property is situated on the northern side of the B4464 New Road, Willenhall, within approximately a quarter of a mile of the pedestrianised retailing centre of the town. 

DESCRIPTION: The property comprises a development of seven flats, converted from two early 20th century terraced houses approximately 20 years ago, together with an enclosed, tarmacadam surfaced car park at the rear with space for 10 - 12 cars, approached via agated driveway beneath an archway toward the middle of the site connecting the two buildings, and a detached, single storey annex/bungalow toward the rear left hand corner of the plot.

ACCOMMODATION: Communal rear entrance hall in number 58 (left hand side) with communal stairs and landing areas providing access to:

Flat 1 - Ground Floor - Entrance hall, living room-kitchen, bedroom and bathroom/w.c.

Flat 2 - Ground Floor - Entrance hall, living room, kitchen, bedroom and bathroom/w.c. 

Flat 3 - First Floor - Living room-Kitchen, two bedrooms and bathroom/w.c.

Flat 4 - First Floor - Entrance hall, living room, kitchen, bedroom and bathroom/w.c. 

Communal Entrance hall off the foregarden of number 57 (right hand side) with communal reception hall and stairs and landing areas leading to:

Flat 5 - Ground Floor - Entrance hall, living room-kitchen, inner hallway with stairs down to basement cellar, three bedrooms, one with en-suite bathroom/w.c.

Flat 6 - First Floor - Entrance hall, living room, kitchen, two bedrooms, one with en-suite shower room/w.c. and family bathroom/w.c.

Flat 7 - Second Floor - Entrance hall on first floor, landing, open plan living room-kitchen, bedroom and bathroom/w.c.

8 - The Bungalow - Entrance hall, living room-kitchen, bedroom and bathroom/w.c. 

SERVICES: Usual mains services are understood to be connected to the property.  The flats have their own separate, largely gas fired, central heating systems with hot water radiators.  No tests have been applied to any of the services or appliances. 

RATING INFORMATION: (Obtained from the Valuation Office Agency Web Site): 

Flats 1 - 4 and 7 - Council Tax Band A

Flats 5, 6 and 8 - Council Tax Band B 

ENERGY PERFORMANCE CERTIFICATES: 

Flat 1 - Rating 76 - Band C

Flat 2 - Rating 76 - Band C

Flat 3 - Rating 75 - Band C

Flat 4 - Rating 76 - Band C

Flat 5 - Rating 78 - Band C

Flat 6 - Rating 78 - Band C

Flat 7 - Rating 84 - Band B

The Bungalow/8 - Rating 70 - Band C

TENANCIES:   The flats are let, presently subject to Assured Shorthold Tenancies, as follows:- 

Flat 1 - £550 per calendar month (pcm)/£6,600 per annum

Flat 2 - £625 pcm/£7,500 per annum

Flat 3 - £675 pcm/£8,100 per annum

Flat 4 - £625 pcm/£7,500 per annum

Flat 5 - £750 pcm/£9,000 per annum

Flat 6 - £725 pcm/£8,700 per annum

Flat 7 - currently being refurbished - estimated rent - £575 pcm/£6,900 per annum

The Bungalow/8 - £575 pcm/£6,900 per annum

Total rental income - £54,300 per annum at present, estimated to increase to £61,200 per annum once Flat 7 has been let. 

TENURE: Believed Freehold. 

VIEWINGS:    Contact sole agents Fraser Wood 01922 629000.

Please note that all parties viewing the property do so at their own risk and neither the vendor nor the agent accept any responsibility or liability as a result of any such viewings.