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7 bed block of flats
Park Lane, Kidderminster DY11
£500,000
Park Lane, Kidderminster DY11
£500,000
Our Summary
- An interesting freehold investment opportunity in an area of town which is currently undergoing some redevelopment and regeneration, positioned between the ring road (from which there is direct access to the property) and the Staffs-Worcs Canal which separates Park Lane from the smart Weavers Wharf retail park, riverside cafe bars & restaurants, college, bus station and other town centre amenities
Description
This freehold property investment opportunity is situated in a redevelopment area, with proximity to the ring road, canal, and town center amenities. The property consists of three interconnected buildings, featuring five flats and two commercial units, with nine parking spaces. Four of the five flats are currently let, generating a potential rental income of £40,000-£45,000 per annum, while one flat is vacant. The two commercial units were previously operated as a launderette and dry cleaners, and one is currently vacant. The property offers a potential fully let rental income, as well as opportunities for redevelopment or reoccupation of the commercial units. The site is being sold as a single lot, but the seller is open to splitting the site and considering offers for individual units.