Studio for sale

Cradley Road, Netherton, Dudley DY2

Summary

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.

Cash buyers preferred | Studio Flat | White Goods Included | Investors & First-Time Buyers - Don't Miss This

Complete Property Services are delighted to present this stylishly refurbished first-floor studio flat in a sought-after Dudley location, just a short walk from Asda supermarket, transport links, canal, parks, and comprising an open-plan living space with a modern fitted kitchen, walk-in wardrobe, a shower room, and benefiting from double glazing, electric heating and private resident's parking to the rear.

Tenure

Leasehold (as advised by the seller).

Investment Potential

Rental Income: 650.00pcm

Approx. 11% Gross Yield - a fantastic opportunity for investors

Leasehold Information

This information has been provided by a third party and has not been verified. We recommend you confirm this information with your conveyance.

Years Remaining: 53 years remaining on the lease (as of 25th March 2025)

Ground Rent: 45 per annum (increasing to 100.00 per annum on 25th March 2045)

Service Charge: 1,100 per annum

Ground Rent & Service Charge Review: Ground Rent reviewed every 33-years, Service Charge reviewed every 1-year

Council Tax Band: A
Tenure: Leasehold
Length Of Lease: 53
Annual Ground Rent Amount: 45.00
Annual Service Charge Amount: 1,100.00

Approach

Set back from the footpath with surrounding shrubbery, the property is accessed via a communal front entrance door and up the stairs to the first floor. Front access only.

Open Plan Fitted Kitchen/Living Area

Featuring newly fitted dark wood-effect laminate flooring in the kitchen space, with newly fitted grey carpet in the living/sleeping space. The walls are painted in grey, and the sleeping area benefits from double doors leading to a built-in wardrobe. The room is well-lit with three light fittings throughout, and two double-glazed windows to the front elevation. One electric heater.

The fitted kitchen is designed with matching white wall and base units, complemented by a sleek grey worktop and a green subway tile backsplash. The space includes an inset stainless steel sink drainer unit with a mixer tap, a freestanding fridge freezer (new), a washing machine (new), an electric cooker with hobs (new), and an extractor fan above. A door leads to the shower room.

Shower Room

Finished with dark laminated flooring and beige wall tiles. A small obscure window is positioned to the side elevation. The suite comprises a built-in shower cubicle with an electric shower, a wash basin with hot and cold taps, and a push-button low-level W.C. There is also a door leading to the immersion heater storage cupboard.

Outside

Private residents' parking is available to the rear, providing ample off-street parking.

Additional Information

- Local Authority: Dudley mbc

- Council Tax Band: A

- EPC Rating: D (62)

Important Information

1. Intending purchasers will be required to provide photo identification and financial documentation to comply with money laundering regulations at the offer stage.

2. These particulars do not form part of any offer or contract.

3. Measurements are for guidance only; buyers should verify them before committing to any costs.

4. Complete Property Services have not tested any appliances, fixtures, or fittings.

5. Buyers should seek legal verification of the title and property details from their solicitor.

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure aml procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price, Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.