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Warehouse for sale

The Wallows Industrial Estate, Fens Pool Avenue, Brierley Hill, DY5 1QA

Guide Price* £150,000

Property Description

Full description

Tenure: Leasehold

Guide Price = £135,000 - £150,000 (+ 20% VAT)

Unsold, but is available at £145,000

Property for auction on 25th October at 11:00 Property Description:
The property comprises four modern light industrial/warehouse units, all of which are let and income producing.
The property is located on The Wallows Industrial Estate, within one mile of The Merry Hill Centre and Brierley Hill Town Centre and five miles from the M5 motoraway junctions 2 (Oldbury) and 3 (Quinton).
The units occupy a middle of terrace position and comprise modern, purpose-built, single-storey workshops/warehouse buildings of brick and block construction with with pitched interlocking concrete tile roofs and solid concrete floors, serviced from a central courtyard and car parking area (8 spaces included).
Each unit is self-contained and has toilet, kitchen facilities, steel roller shutter doors to the main workshop/warehouse areas and two car parking spaces.
The property is likely to be of interest primarily to private investors, although may suit owner-occupiers looking to derive an investment income.

Tenancy Details:
Unit L: Let on a lease for a term of 3 years, commencing 18th August 2017, at a rent of £4,200 per annum, exclusive, plus VAT.

Unit M: Let on a lease for a term of 3 years, commencing 26th March 2018, at a rent of £3,600 per annum, exclusive, plus VAT.

Unit N: Let on a lease for an initial term of one year (now rolling over), commencing 3rd May 2011, at a rent of £3,900 per annum, exclusive, plus VAT.

Unit O: Let on a new lease for a term of 5 years, commencing 8th October 2018, at a rent of £4,500 per annum, exclusive, plus VAT and subject to a third year rent review.

Total Rental Income: £16,200 per annum





Accommodation
Unit L:
Caf: 58.1 sq m (625 sq ft).

Unit M:
Workshop/Warehouse: (Not inspected by Auctioneers) 58.1 sq m (625 sq ft)
[Floor area based on external inspection, coupled with an assessment of the valuation appearing on the Valuation Office Agency Website]

Unit N:
Workshop: 58.1sq m (625 sq ft)

Unit O:
Workshop/Warehouse: 58.1 sq m (625 sq ft)

Outside:
8 Car parking spaces (2 per unit)

Leasehold Information:
Lease Term: 125 years from 25 March 1986
Ground Rent: One peppercorn.

We understand the Freeholders and Managing Agents levy a service charge in respect of looking after the site and providing buildings insurance. Please refer to the Legal Pack for full details.



Legal Documents:
Available at www.cottons.co.uk

Viewings:
Via Cottons - 0121 247 2233


Map & Street View

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Cottons, Auctions on 0121 247 2233.


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