Commercial Property
The property comprises a prominent three storey mid terrace brick built building, standing within a parade of similar properties, having two lock-up retail units on the ground floor and a spacious self-contained duplex flat on the upper floors, with access from the rear.
The living accommodation comprises hallway, dining kitchen, large lounge, both with double glazing and electric heating. The upper floors offer two double bedrooms and a single bedroom.
The property is considered to offer active management opportunities to increase value.
We understand that the property is Freehold, subject to the following tenancies.
526a Hagley Road West - Let by way of a 5 year Lease with effect from 14th July 2011, at a rental figure of £8,000 per annum.
526b Hagley Road West - Let by way of a 6 year Lease with effect from 25th December 2001, at a rental figure of £7,700 per annum.
526c Hagley Road West - Let by way of an Assured Shorthold Tenancy for six months, with effect from 10th September 2016, at a rental figure of £6,900 per annum.
Copies of the Leases and tenancy agreement will be available for inspection within the legal pack.
The property fronts the main A456 Hagley Road West, standing behind a service road with parking. Within the parade, there is a good mix of local and national retailers, including Betfred, Greggs, Lloyds Pharmacy, KFC, together with local hot food takeaways and Estate Agents.
The property is considered to occupy an excellent immediate catchment area for a variety of retail uses, subject to obtaining any necessary planning permission.
We understand that VAT will not be chargeable upon this transaction.
Strictly by arrangement with the Auctioneers.
Freehold. Subject to tenancy.
