123-125 Popes Lane, Oldbury, B69 4PA

Description

Set over two floors, this large commercial unit has living to the first floor and open storage to the ground floor. The property stands flush to the pavement and may be suitable for development, subject to obtaining the necessary planning consents.

Accommodation

Ground Floor: Hall, Storage Room, Recording Studio, Vocal Booth, Reception Room, Large Area For Storage, Toilets. First Floor: Landing, Two Bedrooms (one with shower), Utility, Living Room, Kitchen, Bathroom, Further Storage Beyond The Kitchen. The property benefits from double glazing.

Location

The property is close to junction 2 of the M5, Langley Green Train Station, Oldbury Town Centre, & Rood End Primary School.

Tenure / Property Information

Investment Analysis

The £400,000+ guide is not supported by a directly comparable completed sale. The three supplied Popes Lane comparables are described only as “Other” and provide no evidence that they are comparable in size, use, condition or development potential. The property is vacant commercial space with first-floor living accommodation and possible development potential subject to planning consent. No supported GDV, refurbishment budget, rent or yield can therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, planning advice, measured accommodation details, condition assessment and relevant commercial/residential comparables before considering an owner-occupier, redevelopment or investment strategy.

Works Required

Undertake legal, planning and building-control due diligence regarding any proposed change of use or development. Assess the existing commercial accommodation, first-floor living space, services and layout before specifying works. No physical defects or refurbishment scope are evidenced, so no works allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the evidence. GDV, rent, refurbishment cost, planning position and refinance value are unsupported. The £2,700 administration charge is known, but total acquisition and project costs cannot be calculated without further costs and a supported purchase assumption.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The existing mixed commercial/living arrangement and any required planning consent would also need clarification before relying on residential rental income.

Flip Analysis

A flip analysis cannot be completed reliably. The supplied completed sales are “Other” transactions and are not demonstrated to be comparable. No supported post-works GDV, works budget, selling costs or planning outcome is available.

Investor Risks & Due Diligence

• Potential development or change of use is expressly subject to obtaining necessary planning consents.

• No sufficiently specific rental evidence is available, preventing reliable income and yield analysis.

• The supplied completed comparables are categorised as “Other” and are not shown to be comparable to this property.

• The EPC is only referenced in the legal pack and has not been supplied.

• Additional costs may apply under the special conditions, and stamp duty or government taxes are excluded from the stated administration charge.

• The property is vacant, so there is no passing rent or established tenant income.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, planning advice, measured accommodation details, condition assessment and relevant commercial/residential comparables before considering an owner-occupier, redevelopment or investment strategy.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, layout description, guide price and administration charge, but lacks a comparable valuation basis, rental evidence, condition survey, refurbishment costs, planning position, EPC detail and other completion costs.