A HALESOWEN building containing shops and flats is coming up for auction with a £700k guide price.

Clarage House on Long Lane will come up at a National Property Auction on April 27.

Sales notes state it is "an investment opportunity located along Long Lane, Halesowen comprising four commercial units and seven residential units with a current rental income of £64,000 having one vacant residential unit."

They state that when fully let and with a potential rent increase the income could be around £75k per year.

On the ground floor there is a dessert shop, which is on a five-year lease from 8/5/2021 at £8k per annum; Jasper Pizza which is on a five-year lease from 16/4/2016 at £6k per annum and The Hair Lounge - on a 15-year lease from 01/03/2017 at £6k per annum, now rolling over.

Unit 4 was under offer to an Indian Takeaway - £6,500 (year one), £6,800 (year two), £7,200 (year three) on a five-year term (completion 24/03/2023).

Sales notes state the total commercial income is £26,500 per annum rising to £27,500 per annum.

On the upper floor there are seven apartments - all but one which are let for between £5,100 per annum and £7,200 per annum.

The total residential income is £37,500 rising to £43,500 (upon letting of the empty apartment).

It is being marketed by SDL Property Auctions.