Mount Pleasant, Redditch
- PROPERTY TYPE
Guest House
- BEDROOMS
13
- BATHROOMS
13
- SIZE
Ask agent
Key features
- Sale by Modern Auction (T&Cs apply)
- Subject to an undisclosed Reserve Price
- Buyers fees apply
- Rare Property Investment Opportunity
- Hotel For Sale with 3 Additional Retail Units Included
- £86,400 Per Annum From All Units
- Seeking Offers In Excess of £750,000
- Approximately 7 Year Lease Left Remaining On Retail Units
Description
SUMMARY
Do you have Vision and fancy a Business Venure? , then this is for you. A HOTEL AND 3 RETAIL UNITS. Now for the excitment. it already has a Steady income ( Total - £7,166 per month / £85,992 per annum, Gross Yield - 9.55% before fees / running costs). But it could earn you much much more.
DESCRIPTION
The building is situated in a fantastic location in Redditch with easy access to the Redditch Town Centre offering amenities such as shops, eateries, cinemas and offers good transport links such as the bus/train station heading out of the town.
The building contains 3 floors and has parking available to the rear of the building.
Sits on a 0.15 acre plot.
Total - £7,166 per month / £85,992 per annum
Gross Yield - 9.55% before fees / running costs
Hotel
Rental income - £2,600 per month
Leased until 2027
Restaurant
Rental income - £1,500 per month
Leased until 2032
Takeaway
Rental Income - £1,083 per month
Leased until 2028
Barbershop
Rental income - £1,083 per month
Leased until 2028
Residential One Bedroom Apartment
Rental income - £900 per month
Auctioneer's Comments
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded.
The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of £300 inc VAT towards the preparation cost of the pack.
The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Brochures
PDF Property ParticularsFull DetailsMount Pleasant, Redditch
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Redditch Station0.4 miles
- Alvechurch Station3.3 miles
- Barnt Green Station4.7 miles
About the agent
Choose your local Redditch Shipways office…
We’re a long-established estate agency brand; in fact Shipways has been serving the West Midlands since 1936, so you can trust we are experts in our field. If you need a little more convincing here’s a few more reasons to choose Shipways as your estate agent…
>> Your local Shipways team in Redditch
Our team know the area and the marketplace. Most of our staff members live in the surrounding areas so we are your local experts too!
Industry affiliations
Notes
Disclaimer - Property reference RDC108931. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Shipways, Redditch. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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 Shipways, Redditch on 01527 913417.
*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.
Map data ©OpenStreetMap contributors.