263-365, 27A & Flat 285 Beeches Road, Birmingham, West Midlands, B42 2QS
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial development for sale
Key features
- 3 retail shops & upper floor apartment.
- Ground rents of two apartments included.
- Ideal private investor investment opportunity.
- Popular location with established long term tenants.
- Fully let producing £29,640 per annum.
- Offers based on £345,000, representing a net initial yield of 8.28%.
Description
Offers based on £345,000 are sought for the long leasehold interest. A purchase at this level reflects a net initial yield of 8.28% after usual purchaser's costs.
Fully Let Mixed-Use Investment Opportunity
The property comprises 3 ground floor retail units with a 3 bedroom apartment situated at 285 Beeches Road. The properties are located within an established parade of similar properties.
The tenants at 263 & 265 Beeches Road have both been in occupation for over ten years whilst the tenant at 273a Beeches Road has signed a new 7 year lease.
Further income is derived from the ground rents to two further upper floor apartments , and the passing rent is £29,640 per annum.
Accommodation
263 - Beauty - 630 SQ.FT - 431 Area
265 - Barbers - 442 SQ. FT - 389 Area
273A - Takeaway - 803 SQ.FT - 725 Area
Flat 285 - Residential - 550 SQ.FT
Location
The property is situated on Beeches Road within a well-established predominantly residential area of Birmingham known as Perry Beeches.
Beeches Road runs between the Walsall Road (A34) and Aldridge Road and is around 4 miles to the north of Birmingham City Centre.
Tenure
Leasehold to 7th May 2131, with a passing ground rent of £300 per annum (approximately 107 years unexpired).
There is potential to increase the lease term subject to discussions with the existing landlord post completion.
VAT
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard
EPC
Available upon request.
Service Charge
There is a service charge payable by the occupational tenant towards the upkeep of the communal areas. Further details are available upon request.
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Energy Performance Certificates
EPC 1EPC 2263-365, 27A & Flat 285 Beeches Road, Birmingham, West Midlands, B42 2QS
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Hamstead Station1.2 miles
- Perry Barr Station1.6 miles
- Witton Station2.1 miles
About Bond Wolfe, Commercial Sales
1st Floor 75-77 Colmore Row Birmingham B3 2AP
Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.
We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and dow
Notes
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