8 Pinfold Street, Wednesbury, West Midlands, WS10 8SY

Description

A prominently located mixed-use part vacant part investment property comprising of a barbers shop to the ground floor, along with five self-contained flats to the rear and first floors. The property is situated fronting Pinfold Street and forming part of the busy Shopping Centre in Darlaston, benefiting from a high volume of pedestrian and vehicular passing trade. The property is mid-terraced and of two-story traditional brick construction, surmounted by a pitched, tile-clad roof, each part is separately metered for electric with the Flat accommodation benefiting from UPVC double glazed windows, and gas-fired central heating. The Ground floor retail shop is let on a lease and three of the five flats are currently let on periodic tenancy agreements, a schedule of rents are detailed below. Tenancy Information Barbers Shop: £450 pcm (£5,400 pa). Flat 1: £560 pcm (£6,720 pa). Flat 2: £600 pcm (£7,200 pa). Flat 3: £564 pcm (£6,768 pa). Flat 4: Vacant Flat 5: Vacant Total Current Rental Income: £2,174 pcm (£26,088 pa).

Accommodation

Ground Floor Barbers Shop: (6.57 x 2.83m) Side Communal Entrance with Reception Hall, Flat 3: Lounge/Bedroom (4.18m x 3.86m), Kitchen: (3.31m x 3.88m), Shower Room having shower cubicle, wash basin and WC: (0.99 x 2.16m) Flat 4: Accessed via rear yard, Lounge/Kitchen (6.38m x 3.98m), Shower Room having shower cubicle, wash basin and WC: (1.24m x 2.59m) First Floor Flat 2: Kitchen (3.89m x 3.43m), Lounge (3.85m x 2.87m), Bedroom (2.34m x 3.85m), Shower Room having shower cubicle, wash basin and WC: (1.99m x 1.40m) Flat 3: Lounge/Bedroom (4.15m x 4.14m), Kitchen, with Shower Room off having shower cubicle, wash basin and separate WC: (3.57m x 3.96m) Flat 5: Accessed via rear yard and external staircase, Lounge/Kitchen (6.38m x 3.98m), Shower Room having shower cubicle, wash basin and WC: (1.24m x 2.59m)

Location

8 Pinfold Street, Wednesbury, West Midlands, WS10 8SY. The Cottons particulars describe the property as being within an established local residential/commercial area with access to nearby shops, amenities and transport links.

Key Investment Considerations

• Guide Price: £230,000+

• Tenure: Freehold

• Condition: Condition to verify

• Preferred strategy: Mixed-Use Income Investment / Let Vacant Units

Investment Analysis

Investment Snapshot

Strategy Recommendation

Preferred strategy: Mixed-Use Income Investment / Let Vacant Units. This is based on the Cottons property description, current condition, tenure and the guide price. It should be tested against the legal pack, inspection, finance and local market evidence before bidding.

Works Required

• Let/upgrade vacant flats

• Review shop lease and residential tenancies

• Fire-safety/common-parts compliance

• Targeted kitchens/bathrooms where required

HB initial works allowance: £25,000–£45,000. This is an investment-feasibility allowance, not a contractor quotation.

Rental & Market Context

The Cottons particulars state current rental income of approximately £26,088 per annum. For initial appraisal only, HB estimates market rent at approximately £3,000–£3,500 per month (£36,000–£42,000 per annum). This is an indicative market assumption, not an auctioneer-stated figure, and should be checked against current local lettings before bidding.

GDV / Resale Analysis

HB's indicative post-works / stabilised value range is £350,000–£425,000. This is an appraisal estimate only, not a RICS valuation. Confirm the figure using recent genuinely comparable sold evidence, adjusting for property type, condition, tenure, floor area, plot and any planning potential.

Properties Sold Within Approx. 5 Miles

Specific sold transactions are not contained in the supplied Cottons scrape, so no unverified addresses or sold prices have been inserted. Before bidding, verify recent Land Registry sales for closely comparable properties in the same postcode and surrounding area.

Potential BRRR Position

For this commercial/mixed-use property, focus on sustainable rent, lease quality, vacancy and investment yield rather than a standard residential BRRR refinance. HB's indicative stabilised annual income range is £36,000–£42,000.

Flip Analysis

A resale or conversion strategy requires specialist commercial/residential comparable evidence, planning confirmation and a detailed cost plan. HB's broad indicative value range is £350,000–£425,000, but this is not a formal valuation.

Investor Risks & Due Diligence

• Review the full Cottons legal pack, title and special conditions before bidding

• Confirm buyer's premium / administration charges and completion timetable

• Obtain an appropriate structural or condition survey

• Verify refurbishment quotations and contingency before setting a maximum bid

• Verify current local rental evidence and recent sold comparables

• Confirm lender requirements, valuation assumptions and exit finance

• Verify tenancy agreements, deposits, rent history and landlord compliance

Recommendation

Initial recommendation: Mixed-Use Income Investment / Let Vacant Units. The guide price may offer scope for value creation, but the investment case should only proceed if the legal pack, condition, rental evidence, finance and exit value all support the proposed maximum bid.

Strategy Rating

Income Investment: ★★★★☆ | Value Add: ★★★★☆ | Flip/Resale: ★★★☆☆