New Talbot Place, Black Lake, West Bromwich, Sandwell, B70 0PL

Property Details: • Type: Commercial Development • Tenure: FREEHOLD • Floor Area: N/A

Key Features:

Location: • Nearest Station: Swan Lane Tram Stop • Distance to Station: 0.03240509183930164 miles

Agent Information: • Address: 1st Floor 75-77 Colmore Row Birmingham B3 2AP

Full Description: For Sale by private treaty. <br /> <br />Offers based on £1,600,000 are invited for the Freehold interest. A purchase at this level reflects a gross yield of 7.1% and a capital value of £246 psf. <br /> <br />A Fully-Let New Build Residential Investment Opportunity <br /> <br />The property comprises a new development of 9 self-contained apartments finished to a high standard with an onsite gymnasium. In total the apartments extend to 6,511 sq ft (604.60 sq m) over ground, first and second floors. The property is fully let on individual assured shorthold tenancies and residents have the benefit of car parking, cycle store & use of the on site gymnasium (once completed). The apartments range from 551 sq. ft. to 830 sq. ft. <br /> <br />Accommodation <br />Please see breakdown within the detailed brochure. <br /> <br />Location <br />The property is situated at the junction of Hill Top/Blake Lake and Brecknock Road. Hill Top is a main route between Wednesbury to the north and West Bromwich to the south. The development site is located approximately 1.2 miles to the northwest of West Bromwich town centre on Black Lake Road, which connects West Bromwich and Wednesbury to the north. To the south, Black Lake joins the A41 dual carriageway with links to the M5 motorway to the east and Wolverhampton to the northwest. <br />West Bromwich is within the jurisdiction of Sandwell, approximately 5.8 miles to the north-west of Birmingham, 6.2 miles to the south-east of Wolverhampton and 12.9 miles to the south-west of Lichfield. The area has good road communications, with the subject property being located approximately 2.0 miles to the north-west of J1 of the M5. <br />The property is approximately 1.7 miles north of Sandwell and Dudley railway station. Sandwell and Dudley railway station connects to Birmingham with a travel time of approximately 16 mins, Wolverhampton with a travel time of approximately 22 mins and Lichfield with a travel time of approximately 55 mins. <br />The surrounding area is predominantly residential. There are a number of schools within close proximity including Hateley Heath Primary, Harvills Hawthorn Primary and St John Bosco RC primary Schools. <br /> <br />Size <br />Total Site Area 0.192 acres ( 0.078 hectares). <br /> <br />Tenure <br />Freehold, subject to the existing tenancy. <br /> <br />Planning <br />TOWN & COUNTRY PLANNING - <br />The current use of the property falls under Class C3 (Residential) of the Town and Country Planning (Use Classes) (Amendment) Regulation 2020. <br /> <br />Tenancy <br />Please see breakdown within the detailed brochure. <br /> <br />VAT <br />We are advised that VAT is not applicable. <br /> <br />Services <br />We understand that the premises have the benefit of mains water, electricity, drainage and gas. However, no tests or checks have been carried out with regard to these services. <br /> <br />EPC <br />Copies available upon request. <br /> <br />Legal Costs <br />Each party is to be responsible for their own legal costs that may be incurred in this transaction. <br /> <br />Anti Money Laundering <br />In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.