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£400,000
Hexagon Commercial Property is delighted to offer a rare opportunity to acquire the freehold of a well-positioned parcel of land located on Valley Road in the heart of Lye, Stourbridge. The site extends to approximately 0.42 acres and offers a broadly level, cleared parcel of land, currently part hard-standing and part grassed. It is ideally suited for a variety of potential uses (subject to planning), including development, vehicle storage, builders yard, or commercial open storage. The land benefits from direct frontage and access onto Valley Road (A458), a key arterial route through the area, and is securely bordered with fencing and mature trees along some boundaries. Several vehicles are currently parked on site, demonstrating its suitability for storage and related uses.
Site Area - 0.42 Acres (0.17 Hectares)
The property occupies a prominent position on the corner of Valley Road and the A458 Lye By-Pass, a main thoroughfare linking Lye and Stourbridge to Halesowen and Birmingham. Located within a mixed residential and commercial area, the site is well-placed for local amenities and public transport connections. Lye Railway Station is within walking distance, providing regular services to Birmingham and Kidderminster. The surrounding area includes a mix of traditional housing, commercial premises, and retail outlets, making this location ideal for a range of business or redevelopment opportunities. The A4036 and M5 motorway are also easily accessible, offering excellent regional connectivity.
Leasehold
TBC
We are advised that the land is available on a freehold basis. We are advised that the property is not elected for VAT and therefore VAT shall not be chargeable on the sale price or rental amount. Each party is to cover their own legal and surveyors costs on the transaction.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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