3 Bedroom Apartment

Freehold Investment Opportunity | Central Wollaston. An exceptional opportunity to acquire the freehold of a characterful Victorian building in the heart of central Wollaston, comprising two well-presented flats. Being sold via the Modern Method of Auction, this investment currently generates an immediate rental income of £1,100 PCM (£13,200 PA) with tenants already in situ. The property offers a diverse portfolio profile with a strong, demonstrable history of appeal to the local lettings market.

Flat A is a one-bedroom ground floor flat (in need of improvement) held on a Rent Act tenancy, while Flat B is an impressive two-bedroom first-floor flat that was thoughtfully refurbished in 2024 to provide contemporary styled living.

With Flat B currently held on an Assured Shorthold Tenancy (AST), there is clear scope for a savvy investor to increase the rental yield further to meet current market levels. Located just moments from the popular village amenities of Wollaston, this freehold sale represents a rare chance to secure a high-yielding asset with both immediate returns and significant long-term growth potential in a highly sought-after residential area.

Auctioneers Comments:

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to complete within 56 days (the "Reservation Period"). Interested parties' personal data will be shared with the Auctioneer (iamsold).

If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack, which you must view before bidding.

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price, including VAT, subject to a minimum of £6,600.00, including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.

Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.

Accommodation

Ground Floor Flat
Kitchen Diner 3.23m x 3.07m (10' 7" x 10' 1")
Rear Hall
Bathroom 2.66m x 1.53m (8' 9" x 5' 0")
Lounge 3.93m x 3.29m (12' 11" x 10' 10")
Bedroom 3.62m x 3.41m (11' 11" x 11' 2")

First Floor Flat
Stairs / Landing
Kitchen 3.23m x 3.07m (10' 7" x 10' 1")
Bathroom 2.08m x 1.99m (6' 10" x 6' 6")
Lounge 3.79m x 3.98m (12' 5" x 13' 1")
Bedroom One 3.64m x 3.14m (11' 11" x 10' 4")
Bedroom Two 2.58m x 2.50m (8' 6" x 8' 2")

Outside

Rear gardens designated to each flat.

Material Information in Property Listings

Tenancies

Flat A - Rent Act Tenancy £400 PCM

Flat B- Assured Shorthold Tenancy £700 PCM

Council Tax

Both flats:

Council Tax Band: A

Local Authority: Dudley MBC

Energy Performance

Flat A: EPC rating: TBC

Flat B: EPC rating C71

Tenure

Freehold.

Materials Used in Construction

The property is constructed using traditional materials and techniques.

Services

We understand that the property is connected to mains electricity, gas, water and drainage. The heating systems are gas. This should be verified by your legal adviser and/or surveyor. We have not conducted any tests of these services.

Broadband

According to Ofcom, there is standard, superfast and ultrafast broadband available in the area.

Mobile Signal/Coverage

According to Ofcom, mobile coverage is available outdoors on all four main networks. 

Parking

None.

Restrictions and Rights

We are not aware of any restrictions. This should be verified by your legal adviser.

Flood Risk

According to the Environment Agency and Lead Local Flood Authorities, the property is in an area with a very low risk of flooding. 

Coal Mining

The property is outside of the Coal Mining Reporting Area.

Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

It is a legal requirement for estate agency businesses to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. To do this, we must undertake robust biometric ID verification, PEP and sanctions checks on any successful purchasers upon offer acceptance. The cost of this service is £30.00 per individually named purchaser. This cost is non-refundable and is paid to our third-party supplier by the successful purchaser. The check must be completed and recorded as satisfactory before issuing sale notifications.

Referral Fees

Please visit our website for details of referral fees that we may receive from our referral partners.