Commercial Property
The property is situated within a parade of similar units fronting the main A45 Coventry Road, within the established densely developed suburb of Yardley. The A45 is a main arterial route from the southeast and links Birmingham with Coventry, it is a busy route throughout the day and within the vicinity of the property is a dual carriageway. The property is considered to occupy a good trading position for its existing use or other retail uses subject to any appropriate planning permission.
The property comprises a mid terraced three storey building of brick construction surmounted by a pitched roof. On the ground floor there is a retail unit currently occupied by a ladies hairdressers, and having a main retail area, store, kitchen and WC. On the upper floors there is a self-contained flat having a separate rear access and comprising kitchen, bathroom, double bedroom and living room on the first floor and a further bedroom on the second floor. Outside there is a rear fenced yard. The living accommodation requires some repair and redecoration but offers the potential for further rental income.
Commercial Investment
A Freehold Retail Investment with Vacant Living Accommodation on Upper Floors
Current Rent Passing: £6,000 pa
Estimated Full Rental Value: £11,100 pa
We understand that the property is Freehold. The ground floor retail unit is let by way of a Lease for a term of 7 years with effect from the 25th September 2013 at a current rent of £6,000. There is a rent guarantor and provision for a rent review at the end of the fifth year. A copy of the Lease will be available for inspection within the legal pack.
The living accommodation is offered with vacant possession upon completion but offers the potential to enhance the rental income from the whole building.
We understand that VAT will not be chargeable upon this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
