property
The property is situated within the long established and very popular Weoley Square shopping area within Weoley Castle, close to its borders with Bournville and Selly Oak, lying approximately 5 miles south west of Birmingham City Centre. Weoley Square comprises a comprehensive mix of local and national retailers including Boots the Chemist, Hallmark Cards, Greggs, a Cooperative Food Store, William Hill and Lloyds Pharmacy.
The area benefits from a densely developed immediate residential catchment area for trade and also attracts custom from further afield.
The property comprises a part two storey part single storey end of terrace building, forming part of a busy local shopping parade. The property comprises two retail units on the ground floor with self contained flat at first floor level. We would advise that we have not been able to undertake an inspection of the living accommodation.
Commercial Investment
A Freehold Retail/Residential Investment Property comprising Two Ground Floor Retail Units & First Floor Flat, within a busy and popular local shopping districtCurrent Gross Rental: £21,000 pa.
124a
Let by way of a 5 year Lease to Mr K. Draper, trading as Castle Pets, with effect from 1st July 2009, expiring on 30th June 2014, at a rental of £9,000 per annum. We understand that the tenant has been in occupation for approximately 10 years and has agreed to a new Lease for a term of 7 years upon expiry of the current Lease.
124b
Let by way of a new Lease for a term of 7 years to Ms N. Moy, trading as Castle Snax, with effect from 1st February 2014, at an initial rent of £6,000 per annum. We understand that the current tenant has been in occupation for approximately 5 years.
First Floor Flat
Let by way of an Assured Shorthold Tenancy, at a rental of £500 per calendar month - £6,000 per annum.
Full details relating to tenure and copies of the tenancy agreements will be available for inspection within the legal pack.
We understand that the property is Freehold and is being sold subject to the following tenancies.
We understand that VAT will not be chargeable on this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
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