159 Wolverhampton Street, Dudley, West Midlands

Description

A vacant freehold spacious retail/showroom unit and two recently refurbished self-contained two-bedroom flats, close to the town centre, considered suitable for a variety of retail uses subject to any necessary planning permission.

Accommodation

Three-storey mid-terraced property extended at ground floor level. Ground floor: large retail/showroom area, previously used for furniture sales with ancillary storage, approximately 1,646 sq. ft. (152.9 sq. m). First Floor Flat 1: two bedrooms, lounge, bathroom and kitchen. Second Floor Flat 2: two bedrooms, lounge, bathroom and kitchen. The flats have a separate front door entrance and are recently refurbished and centrally heated.

Location

Prominent frontage to the B4176, Wolverhampton Street, opposite its junction with Charlton Street. Within a parade of similar properties, a short distance from Dudley Town Centre, with retail, commercial and residential uses nearby. The property is considered to occupy an excellent immediate catchment area for trade.

Tenure / Property Information

Investment Analysis

No completed sale comparables or formal valuation evidence is supplied, so GDV and market value cannot be reliably estimated. The £28,000 per annum figure is an auctioneer estimate of full rental value for the two flats and retail space, not passing rent. The property is vacant and any retail letting, permitted use and additional completion costs require legal-pack verification.

Investment Snapshot

Strategy Recommendation

Consider only as a mixed-use income investment subject to validating the £28,000 rent estimate, retail demand, planning/use requirements, condition, EPCs and all legal-pack costs. Do not rely on a flip or BRRR strategy without valuation and works evidence.

Works Required

No specific defects or works are evidenced. Confirm the condition of the retail/showroom area, the recently refurbished flats, services, EPCs and legal-pack requirements before budgeting. Any works allowance is therefore unsupported.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment budget or refinance valuation is available. The £2,700 administration charge is known, but other buyer costs, taxes and any legal-pack costs are not fully supplied. Refinancing should not be assumed from the auctioneer rent estimate.

Buy-to-Let Analysis

At the £160,000 guide, the auctioneer's estimated full rent of £28,000 per annum implies a 17.5% gross yield before finance, voids, management, maintenance, insurance, taxes and other costs. No sufficiently specific external rental comparables are supplied, and the estimate is not passing rent. The retail element may also have different letting demand and use requirements from the flats.

Flip Analysis

A flip surplus cannot be calculated because there is no completed-sales evidence, GDV, supported works budget or selling-cost allowance. The flats are described as recently refurbished, but the retail unit's condition and resale value are not evidenced.

Investor Risks & Due Diligence

• The £28,000 annual rent is an auctioneer estimate rather than passing rent.

• No sufficiently specific external rental comparables are supplied.

• The retail/showroom use may require planning permission or other consent for the intended use.

• The retail unit's condition and any required works are not evidenced.

• EPC details, special-condition costs and other completion costs require legal-pack verification.

• Vacant possession creates letting, void and re-letting risk.

• Stamp duty and government taxes are excluded from the stated costs.

Recommendation

Consider only as a mixed-use income investment subject to validating the £28,000 rent estimate, retail demand, planning/use requirements, condition, EPCs and all legal-pack costs. Do not rely on a flip or BRRR strategy without valuation and works evidence.

Strategy Rating

Analysis Confidence

The accommodation, tenure, vacancy, guide price, administration charge and auctioneer rent estimate are supplied, but there are no sold comparables, external rental comparables, detailed condition information, refurbishment costs or formal valuation evidence.