Location:
The property is located on Adelaine Street, in the vibrant Deritend area of Birmingham which is undergoing regeneration. Birmingham City Centre is approximately 1 mile northwest from the premises. Birmingham Moor Street Train Station is located approximately 0.7 miles away from the subject premises, providing regular services to local and regional destinations. Adelaine Street offers easy access to the main A41 arterial route, leading directly in and out of the City Centre. The M6 motorway, junction 6, is approximately 3 miles north from the subject premises, connecting to the national motorway network.
Description:
The premises comprise a two-storey former public house building of brick-built construction surmounted by a pitched tiled roof and a yard to the rear which has been converted into an enclosed space. Internally the property consists of a retail unit on the ground floor and additional accommodation on the first floor. The ground floor is fitted out as a restaurant/shisha lounge which benefits from a solid floor with tiled covering, part tiled and part wooden walls, inset light points, ambi-rad heater, CCTV, alarm system and a kitchen with full extraction canopy. The first-floor benefits from wooden floors and plastered & painted walls. There is potential to extend the first floor to provide additional income. There is further storage space in the basement area.
Accommodation
Energy Performance Certificate:
Details available upon request.
Services:
We are advised all main services are connected to include mains gas, water and electricity.
Mason Young Property Consultants has not checked and does not accept responsibility for any of the services within this property and would suggest that any in-going tenant or occupier satisfies themselves in this regard.
Tenure / Price:
The freehold interest is available at a quoting price of £1,500,000, subject to contract.
The ground floor of the property is let on a 6-year term expiring on 1st November 2030 and is producing a total income of £43,200 per annum exclusive.
Business Rates:
The property is currently listed within the 2023 rating listing as have a rateable value of £28,750. Rates payable will be in the region of £14,346.25 per annum.
Interested parties are advised to make their own enquiries to Birmingham City Council on 0121 303 5511.
VAT:
We understand that the property is not elected for VAT.
Legal Costs:
Each party to be responsible for their own legal costs incurred during this transaction.
