Mount Pleasant
- Sale by modern auction (t 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 read more show less
Council Tax Band: A
Tenure: Freehold
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.
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Mortgage enquiry
REDDITCH
Worcestershire
B98 8AE
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**THE 4.7% ANNUAL INTEREST RATE IS BASED ON THE CONNELLS GROUP AVERAGE MORTGAGE INTEREST RATE TAKEN FROM THE PERIOD OF 01/01/2024 – 01/03/2024 AND IS CORRECT AS AT 07/03/2024.
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