Commercial Property
The property comprises a two storey mid terraced building, believed to date from the 1950s, comprising a ground floor lock-up retail unit and first floor residential flat.
The property is of traditional brick construction under a pitched plain tiled roof, with brick parapet to the front elevation. There are single storey extensions to the rear, which are also of brick construction with flat roofs.
The property is currently configured to provide on the ground floor an Opticians, whilst on the first floor there is a good size self-contained flat, having its own entrance, landing, spacious sitting room, dining/fitted kitchen with new appliances, one double bedroom, one single bedroom and bathroom comprising a full suite with a over bath shower. The flat benefits from electric heaters.
Retail Unit with Office, Kitchen & Cloakroom. Net Internal Area (approx.) 610 sq.ft.
Entrance, Landing, Spacious Sitting Room, Dining/Fittted Kitchen, Double Bedroom, Single Bedroom, Bathroom/WC.
The property is located in an established retail trading area, with neighbouring occupiers including Lloyds Pharmacy, William Hill, Bristol Street Motors and Enterprise Rent-a-Car, whilst the new Park Gate Retail and Leisure facility is a short distance away. The property fronts Union Road, just off the main A3400 Stratford Road, which provides good access to the Midland motorway network via Junction 4 of the M42 motorway.
We understand that the property is Freehold and there is a Flying Freehold with part of the flat extending over the adjoining shop 3 Union Road.
The ground floor is subject to a Lease of 10 years with effect from 1st July 2015, at a current rent of £9,400 per annum, subject to review in year 5. There is a tenants option to break at year 5.
The first floor has recently been let by way of an Assured Shorthold Tenancy, for a period of 12 months, at a rent of £600 per calendar month (£7,200 per annum).
Refer to the Legal Pack.
Strictly by arrangement with the Auctioneers.
Freehold.
