Restaurant for saleMill Street, Brierley Hill, West Midlands, DY5 2RG
Guide Price = £560,000 - £590,000 (+20% VAT)
Unsold, but is available at £560,000
Property for auction on 7th December at 11:00 Property Description:
An attractive investment property comprising an established banqueting suite and five investment flats prominently situated fronting Mill Street with return frontage along Cottage Street and centrally located within Brierley Hill surrounded by a densely populated catchment area.
The property is predominantly three storey of traditional brick construction under part pitched/part flat roofs, in addition benefits from ancillary basement accommodation and staff car parking to the rear.
Brierley Hill is a small town, situated approximately two and a half miles south of central Dudley and two miles north of Stourbridge. Merry Hill Shopping Centre and Lye Railway Station are both in close proximity.
Planning consent was granted by Dudley Council (Reference P12/0134) on 17th April 2012 for the conversion of the first and second floor accommodation to five separate self contained flats.
Ground Floor (Banqueting Suite): Currently Vacant
We are advised by the seller that the premises were previously let out for £36,000 per annum.
First/Second Floor (Flat Accommodation):
All flats are let on Assured Shorthold Tenancies
Flat 1 - £450.00 pcm
Flat 2 - £500.00 pcm
Flat 3 - £465.00 pcm
Flat 4 - £500.00 pcm
Flat 5 - £510.00 pcm
Current Total Income - £2,425 per calendar month (£29,100 per annum)
Potential Total Income (When Fully Let) - £65,100 per annum
Store Area: 99.72 sq m (1,073 sq ft)
Restaurant/Banqueting Suite: 253.67 sq m (2,731 sq ft)
Kitchen/Preparation Room: 62.24 sq m (670 sq ft)
Total Net Internal Area: 315.91 sq m (3,804 sq ft)
Flat Accommodation (Note: Only Flat 1 has been inspected by the auctioneers)
Separate access from Cottage Street to the upper floors is at the rear of the Banqueting Suite.
Flat 1: Living Room, Kitchen, Bathroom, Bedroom.
Flat 2: Living Room, Kitchen, Bathroom, Bedroom One, Bedroom Two.
Flat 3: Living Room, Kitchen, Bathroom, Bedroom.
Flat 4: Living Room, Kitchen, Bathroom, Bedroom.
Flat 5: Living Room, Kitchen, Bathroom, Bedroom One, Bedroom Two.
Service Yard/Car Parking with four car parking spaces
Available at www.cottons.co.uk
Viewings: Via Cottons - 0121 247 2233
Energy Performance Certificates (EPCs)
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