Wellington Road, Bilston
Auction Guide Price £400,000

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  • Investment opportunity. Approximate 10% gross yield.
  • For sale by modern method of Auction.
  • Block of seven apartments close to town centre.
  • Majority long-term tenants, excellent occupation record.
  • Centrally heated & double glazed.
  • Gas certificates and EPC’s available.
  • Well placed to public transport with tram access to Birmingham and Wolverhampton.

Excellent investment opportunity comprising 7 self contained one and two bedroom apartments currently producing approximately £42,130 per annum. Maximum anticipated rent of approximately £46,610 per annum. Regular, well established income with majority long term tenants. Specific details of individual agreements and tenant circumstances are available via the sole selling agents. Due to Covid restrictions, viewing of individual units cannot take place at the present time.


Auctioneers Comments

This property is for sale by the Modern Method of Auction - which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer's solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 3.5% to a minimum of £5,000.00 + VAT (£1,000.00) = (£6,000.00) which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation from and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by West Midlands Property Auction powered by iam-sold Ltd.


Wellington Road
Bilston WV14 6AG
County: West Midlands
Sale Type: For Sale
Ref #: BL000746

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