Priest House, Priest Street, Halesowen, B64 6JN

Property Details: • Type: Mixed Use • Tenure: FREEHOLD • Floor Area: 12393 sqft

Key Features: • 21 Residential Apartments being (9x 1 Bed and 12x 2 Bed apartments) • Ground Floor commercial unit let as an NHS GP Surgery • Telecom Mast Income • Total Passing Income £217,300 per annum exclusive • 23 Car Parking Spaces • Significant asset management potential • Site Area – 0.323 Acres

Location: • Nearest Station: Old Hill Station • Distance to Station: 0.46336444951720496 miles

Agent Information: • Address: The Mint 95 Icknield Street Hockley Birmingham B18 6RU

Full Description: Description<br />Priest House represents an attractive mixed-use investment opportunity providing a strong and diversified income stream, underpinned by a government-backed tenant and well-established residential accommodation.<br /><br />The property comprises a substantial freehold building arranged over ground and four upper floors, providing a total of 21 self-contained residential apartments together with a ground floor commercial unit. The commercial accommodation is let to an NHS GP surgery with the residential element comprises 21 flats, all of which are income producing and collectively generate £177,300 per annum. The apartments are well established within the local rental market and benefit from strong ongoing demand given the property’s convenient position within Old Hill and proximity to local amenities and transport links. <br />In addition, the property benefits from telecommunications income derived from a roof-mounted telecoms installation, producing £5,000 per annum.<br /><br />A notable feature of the investment is the freehold car park located directly opposite the building, which provides 23 allocated parking spaces.<br /><br />Location<br />Priest House is located on Priest Street in the established commercial area of Cradley Heath, within the Metropolitan Borough of Dudley. <br /><br />The property sits in a well-connected part of the Black Country, approximately 10 miles west of Birmingham city centre and 6 miles south of Wolverhampton.<br /><br />The immediate surroundings comprise a mix of offices, trade counter units, light industrial premises, and supporting retail uses, creating a practical and active business environment.<br /><br />Priest House benefits from convenient access to local services and public transport links, with nearby parking and servicing facilities typical for properties of this nature. <br /><br />Cradley Heath benefits from strong road connectivity, with the A4036 providing direct access to the A459 and onward links to the M5 motorway at Junctions 2 and 3, offering efficient regional and national transport connections. <br /><br />Cradley Heath railway station is within close proximity, providing regular services to Birmingham New Street and Worcester.<br /><br />Tenure<br />The property is held freehold under title number WR6944<br /><br />Terms<br />We are instructed to seek offers in excess of £2,600,000 subject to contract. <br /><br />A purchase at this level would provide an initial yield of approximately 8.00 % assuming usual purchaser's costs at 5.10%.<br /><br />VAT<br />The property is elected for VAT. However, it is anticipated the sale will be treated as a TOGC.<br /><br />Legal Fees<br />Each party are to be responsible for their own legal costs incurred during this transaction.<br /><br />Tenancy Schedule<br />Available on request.