DESCRIPTION

The OPA are pleased to present this fantastic opportunity to acquire a modern one bedroom apartment, ideal for investors looking for a fantastic net yield of 11.25% gross yield (10.42% net yield after ground rent & service charge).

The apartment is sold with tenants in situ paying £750 pcm/ £9000 p.a.

ACCOMMODATION

The apartment compromises of one double bedroom, a spacious modern open plan kitchen lounge with fitted high gloss kitchen, store room, and fully tiled bathroom.

The property is well presented throughout to a high spec.

The property also benefits from 1 x allocated parking.

TENURE

This property is Leasehold - 125 years from August 2021

Ground rent: £100 p.a

Service charge: We are advised that the service charge is currently £563 p.a

Sold with tenants in situ on an assured shorthold tenancy at £750 pcm / £9000

EPC - D

LOCATION

The property occupies a prominent position on the High Street, which is the main retailing pitch within Cradley Heath, situated adjacent to the property is a medium sized Iceland convenience store as well as a large Tesco Extra and large car park in close proximity. The subject property is conveniently located 0.4 miles south of Cradley Heath Station. The surrounding area can be classified as a mix of commercial and residential uses with both local and national occupiers nearby The historic town of Cradley Heath is a popular West Midlands commuter town to the west of Birmingham.

The town is located 8 miles west of Birmingham town centre, 9 miles south of Wolverhampton and 10 miles north east of Kidderminster. The town is very well connected, situated 3 miles east of the M5, which leads directly to West Bromwich and the M6 to the North and the M4 and Bristol to the south As well as good connections to the motorway network, the A458 is located 1 mile south and leads directly into Stourbridge town centre to the east and Birmingham town centre (via the A456) to the west. Cradley Heath Railway Station is located on the Birmingham to Worcester via Kidderminster line and offers regular routes between Birmingham Snow Hill and Stourbridge Junction. There are also regular services from Cradley Heath to London Marylebone on the Chiltern Railway Line with a journey time of approximately 2 hours and 15 minutes via Birmingham. London Marylebone 2 hours & 15 minutes Birmingham Moor Street Station 25 minutes

VIEWINGS

Strictly by appointment through The OPA.

AGENT NOTES

VIEWINGS

Please contact The Online Property Agency for viewings.

BUYERS FEE

Buyer's Exclusivity Fee of 2% of The Purchase Price. Minimum Fee £3000. (All fees inclusive of VAT). T&Cs apply.

The OPA’s “Secure It Now Exclusivity Package” – this is a legally binding agreement between you are the seller. The buyer pays the exclusivity fee and enters into an “exclusivity agreement with the seller”, granting the buyer an exclusivity period, which is usually upto 8 weeks to complete on the purchase of the property. During the exclusivity period, the buyer has the exclusive right to purchase the property and during this period they should complete the sale transaction. If the buyer fails to complete in this period, the fee is non-refundable.

This property is being offered under The OPA’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Properties are realistically priced

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• Focuses on speed

• Mortgage buyer friendly

• Suitable for first time buyer

• Mortgage buyers and cash buyers compete on equal terms

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping and the

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances / Carr out your due diligence/ Ask questions/ Get legal/ financial advice if required.

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

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: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The OPA has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The OPA.”

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a relative of a Partner of The Online Property Agency Ltd

Misrepresentation Act 1967: The OPA for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.