SOLD
Location:
The property is located on the High Street in Erdington. The property can be accessed via the A5127 providing access to the A38 (Aston Expressway) to the south, which in turn provides access to Birmingham City Centre, which is approximately 4.5 miles away. The property is located within a parade of shops providing arrange of uses from takeaways, grocery shops and high street banks to name a few.
Description:
The property comprises of a spacious end terraced three storey building offering a self-contained retail unit on the ground floor with a spacious retail area and internal storage area to the rear. Internally the property is open plan in configuration and benefits from a concrete floor, fluorescent strip lighting, power points, a kitchen area and WC facilities. Externally there are electric metal roller shutters to the doors and windows. There are three self-contained flats located within the upper floors which are accessed from the rear. Each flat benefits from a lounge, bedroom, kitchen & bathroom.
Accommodation
Energy Performance Certificate:
Details available upon request.
Services:
We are advised all main services are connected.
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.
Terms:
The ground floor retail shop is currently let on a 5 year lease at a passing rent of £16,000 per annum exclusive. The flats are all rented out on 6 month AST’s bringing in an additional income of £22,800 per annum exclusive giving a total income of £38,800 per annum exclusive.
Tenure / Price:
The Freehold interest is available for sale at a quoting price of £425,000, subject to contract.
Business Rates:
The property is currently listed within the 2017 rating listing as having a rateable value of £11,250. Rates payable will be in the region of £5,523.75 per annum respectively. Small business rate relief may apply.
Interested parties are advised to make their own enquiries to Birmingham City Council on 0121 303 5511.
VAT:
We understand that the commercial element is elected for VAT, the upper floors are not elected for VAT.
Legal Costs:
Each party to be responsible for their own legal costs incurred during this transaction.
