13th March 2020
Earn two incomes from one property with a mixed-use investment at Villa Park auction
With commercial and development opportunities to suit all budgets, the latest West Midlands auction catalogue has been launched by SDL Auctions Bigwood.
Whether you are looking for a plot of land to develop or a property to add to your commercial portfolio, there will be plenty of choice at the Villa Park auction on Wednesday 25th March.
Among the lots will be several mixed-use properties which commercial valuer Chris Theocharides says make excellent investments.
“Mixed-use properties allow you to earn two incomes from one property, while saving money on ground rent. And we have some great mixed-use properties going under the hammer this month.”
One is a Caribbean takeaway in Birmingham with a *guide price of £140,000+. 391 Dudley Road features the well-established Top Taste Caribbean Takeaway on the ground floor, with a two double bedroomed flat above.
The three-storey property currently realises an annual rental income of £10,200 from the commercial property, while the flat – which has a separate entrance and occupies the upper two floors – is vacant. The combined potential income is around £20,000 when fully let.
Situated on the main Dudley Road, among national and independent retailers and benefiting from passing trade, the property is around two miles from Birmingham City Centre and has good bus and rail links. The nearby City Hospital is within easy walking distance and provides a huge demand for rental accommodation.
Heading west, 165 and 165a Halesowen Street in Rowley Regis is another mixed-use property with good income potential.
Previously trading as the Superb Fish Bar, the mid-terraced two-storey property features a separate flat with its own access. The ground-floor commercial unit features a trading area of approximately 288 sq ft, with a food preparation area of a similar size behind and access to a rear courtyard.
On the first floor, accessed via a separate entrance, is an apartment featuring a living room, kitchen bedroom and bathroom with separate WC.
The property is located in an area of passing trade with bus links to Halesowen, The Black Country and Birmingham. It has a guide price of £115,000+.
Investors seeking a purely commercial property may be interested in two units to the rear of 1118 Coventry Road in Yardley. With a guide price of £110,000+, the pair of freehold industrial units provide an annual rental income of around £17,000.
Unit One features an industrial workshop on the ground floor, with a storage area and WC above, while Unit Two is a two-storey storage area with WC and shower facilities on the first floor.
Chris said: “These are excellent commercial investments as they are, but Unit Two has the added benefit of being suitable for conversion to living accommodation, subject to the necessary planning consents.”
Several plots of land are going under the hammer with SDL Auctions Bigwood, too, including a building plot in Hightown, Halesowen with a guide price of £14,000+.
The freehold parcel of land has planning permission for the creation of a bungalow with parking. The rectangular plot is close to Halesowen’s border with Cradley Heath, with two railway stations nearby and good transport links to Birmingham, Merry Hill shopping centre and Stourbridge.
Commercial valuer Chris Theocharides, of SDL Auctions Bigwood, said: “These are just a few of the excellent commercial properties and development opportunities going under the hammer this month.
“It will be exciting to be back in the auction room for our second auction of the year. If you’re unsure about attending due to the Coronavirus, or are unable to attend for any other reason, don’t forget you can bid on any of our properties remotely, by placing a bid online, by telephone or by proxy.”
Details of remote bidding can be found here.