Park Lane, Kidderminster, DY11
- PROPERTY TYPE
Block of Apartments
- BATHROOMS
6
- SIZE
4,894 sq ft
455 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Versatile Freehold Investment Opportunity
- Three Adjoining & Interconnected Buildings
- Five Flats
- Two Commercial Units
- Overall 4821 sq ft (448 sq m)
- Nine Parking Spaces
- Fully Let Rental Income circa £40-45,000
- Illustrative Yield 8-9%
Description
This Grade II listed property - essentially comprising three adjoining and interconnected three storey buildings - includes five flats arranged over three floors (two flats are duplex units) plus two ground floor commercial units, with a total of 9 marked parking spaces to the forecourt. All flats/ units feature wooden framed double glazing and gas-fired central heating with own boilers.
Four of the five flats are currently let to long term tenants and one flat has recently become vacant, with the property expected to provide a potential fully let rental income of circa £40,000 - £45,000pa (approx 8-9% illustrative yield).
One of the two currently vacant ground floor commercial premises was successfully operated for over 30 years as a launderette business until moving to bigger premises. Demand exists locally to restart a launderette business here, whilst the other premises were operated as a dry cleaners business in recent years and previously a hairdressing salon.
The former salon is in well presented order, while the former launderette would need refitting to suit requirements.
The Forest Complex site is offered for sale as a single lot, however the seller would also consider splitting the site and is prepared to consider offers for the launderette premises + Flat 5 alone (these two units comprising the right hand building).
Flat 1: second floor (centre) two bedroom flat. floor area 69 sq m
EPC rating D67. Let on statutory periodic tenancy following assured shorthold tenancy.
Flat 2: first floor (centre) one bedroom flat; floor area 59 sq m
EPC rating D63. Let on statutory periodic tenancy following assured shorthold tenancy.
Flat 3: first & second floor (left side) one bedroom duplex flat; floor area 77 sq m
EPC rating E51. Let on statutory periodic tenancy following assured shorthold tenancy.
Flat 4: ground floor (left side) one bedroom flat; floor area 52 sq m
EPC rating D62. Let on statutory periodic tenancy following assured shorthold tenancy.
Flat 5: first & second floor (right side) duplex two bedroom flat; floor area 98 sq m
EPC rating C76. Currently vacant.
Ground Floor Former Shop/ Office/ Studio: floor area 32.3 sq m
Currently vacant.
Rateable Value £2325 x 49.9p small business multiplier (2024/25)
Ground floor Former Launderette: floor area 67.4 sq m
Currently vacant.
Rateable Value £4600 x 49.9p small business multiplier (2024/25)
All five flats are rated by Wyre Forest District Council as Band A for council tax.
Mains gas, electricity, water & drainage are all connected.
Mobile Coverage: 4G coverage is available in the area - please check with your provider.
Broadband Availability: Superfast broadband (FTTC) is available in the area.
Disclaimer
DISCLAIMER: Whilst these particulars are believed to be correct and are given in good faith, they are not warranted, and any interested parties must satisfy themselves by inspection, or otherwise, as to the correctness of each of them. These particulars do not constitute an offer or contract or part thereof and areas, measurements and distances are given as a guide only. Photographs depict only certain parts of the property. Nothing within the particulars shall be deemed to be a statement as to the structural condition, nor the working order of services and appliances.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: A
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Residents
- GARDENA property has access to an outdoor space, which could be private or shared.
- Ask agent
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
Park Lane, Kidderminster, DY11
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Visit our security centre to find out moreDisclaimer - Property reference RX518124. 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 The Property Experts, London. 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.
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