Mixed Use
False
The property is situated within a parade of retail and commercial units, to the northern side of Bristol Road South opposite the Northfield Shopping Centre and close to the main junction with the B4121 Bell Lane and Church Road. Northfield is a well established suburb located along the A38 and lying approximately 6 miles southwest of Birmingham city centre. It has a population of 24,444 (2001 census).
The property is considered to occupy an excellent trading position for its existing use.
Value Added Tax
Viewings & Further Details
We understand that VAT will be chargeable on this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
The property comprises a two storey semi detached building of brick construction with a part pitched tiled roof and part flat roof. The property provides on the ground floor a modern well presented hot food takeaway occupied by Pizza Hut and comprising a retail area, office, preparation area, washing area, stores and staff WC. On the first floor and having separate access from the side there are two flats.
Flat 1 - Comprising, One Bedroom, Lounge, Kitchen and Shower Room.
Flat 2 - Comprising, One Bedroom, Living Room/Kitchen and Shower Room.
To the rear is a small ground floor office. We have not been able to inspect the flats or the vacant office area.
A Freehold Mixed Retail, Occupied by Pizza Hut, and Residential Investment Property
Rent Passing: £25,100 pa
Estimated Full Rental Value: £30,200 pa
We understand that the property is Freehold, subject to the following tenancies:-
Ground Floor Retail Unit
Let to Yum 111 (UK) Ltd trading as Pizza Hut for a term of 20 years with effect from the 18th January 2007, there is provision for the rent to be reviewed every 5 years. Current rent: £20,000 per annum.
Flat 1
Vacant - estimated rental value: £5,100 per annum.
Flat 2
Let by way of an Assured Shorthold Tenancy, the tenant is currently holding over at a rental of £5,100 per annum.
Rear Office
A small rear ground floor office which is currently vacant, offers further income potential.
Copies of the Leases will be available for inspection within the legal pack.
