Studio for sale

Cradley Road, Netherton DY2

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £45,000

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 only | Studio Flat | Investors & First-Time Buyers – Don’t Miss This

Complete Property Services are delighted to present this stylishly refurbished ground-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 every 33-years, Service Charge reviewed every 1-year

Accommodation Details

Approach

Set back from the footpath with surrounding shrubbery, the property is accessed via a communal front entrance door. The flat’s front door is located immediately to the left.
Front access only.

Open Plan Fitted Kitchen/Living Area 5.54m x 4.10m (18’2” x 13’5”)

Featuring newly fitted light wood-effect laminate flooring in the main living and kitchen space, with grey carpet in the sleeping area. A statement feature wall enhances the sleeping area, which also benefits from double doors leading to a built-in wardrobe. The room is well-lit with four light fittings throughout, and two new double-glazed windows to the front elevation. A new electric heating radiator with a decorative panel covering.

The fitted kitchen is designed with matching white wall and base units, complemented by marble-effect worktops and a black subway tile backsplash. The space includes an inset stainless steel sink drainer unit with hot and cold taps, a freestanding fridge freezer, a washing machine, an electric cooker with hobs, and an extractor fan above. A door leads to the shower room.

Shower Room 1.52m x 1.40m (4’11” x 4’7”)

Finished with white marble-effect floor tiles and white 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 vanity hand 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: E (44)

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.

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

Referral Fees-

As part of our commitment to transparency, we would like to inform you that we may receive a referral fee if we introduce you to certain third-party service providers. These include:

• Solicitors – If we refer you to a solicitor for conveyancing services, we may receive a referral fee of up to £300 (including VAT) should you decide to proceed with their services. This fee is paid directly to us as a marketing cost and does not affect the legal fees you would otherwise be quoted. The exact amount may vary depending on the solicitor instructed.

• Mortgage Advice – If we introduce you to Zi Mirza at The Mortgage Department, we will receive a referral fee of £75 (including VAT) should you choose to proceed with their services. This fee is paid by the mortgage advisor and does not impact the costs or mortgage products available to you.

Referral fees are a standard industry practice and help to offset marketing costs. They do not influence the advice or services provided by the solicitor or mortgage advisor. If you have any questions regarding referral fees, please do not hesitate to contact us.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Our verification process is in place to ensure that aml procedure are carried out in accordance with the law.

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’.

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 of the property. The deposit will be a contribution to 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 required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.