Mixed Use
The property comprises a detached two storey building that contains three commercial units to the front on the ground floor with four, one-bedroomed flats above on the first floor. The property has been extended to the rear by way of a single storey extension and comprises a further three, one-bedroomed flats that are situated to the rear of the retail unit. The property is currently fully occupied by tenants.
We estimate the building was originally constructed circa the 1950s and has been extended in the years since.
The property is accessed directly from Hob Moor Road and is also accessed to the rear via a private accessway that is accessed from Newbridge Road. The property benefits from a tarmac parking area to the front with parking space for up to half a dozen cars. Unrestricted parking is available further up the street.The property is located in the Birmingham suburb of Small Heath and is situated on Hob Moor Road close to its junction with Newbridge Road. The property forms part of a parade of local shops with the surrounding properties comprising retail premises on the ground floor with residential flats above. The property is situated in a residential area.
The property is situated approximately 3 miles east of the centre of Birmingham. Birmingham Heartlands Hospital is approximately ½ a mile to the north. The property is approximately ¾ of a mile north of the main A45 Coventry Road which in turn leads to the Bickenhill Interchange at Junction 6 of the M42 motorway
The auctioneers have not inspected the property but believe it to comprise -
The property is fully let subject to the following tenancies. Interested parties are advised to inspect the legal pack for more details as to the leases and their terms -
Hairdresser A1,A3 & A5 - 648sq.ft - current rent £7,800 pa.
Vape Shop - 625sq.ft - current rent £7,800 pa.
Hot Food Takeaway A3 & A5 - 638sq.ft - Current rent £8,100 pa.
One bedroom flat on an AST - 377sq.ft - current rent £6,300 pa.
One bedroom flat on an AST - 377sq.ft - current rent £6,300 pa.
One bedroom flat on an AST - 377sq.ft - current rent £6,720 pa.
One bedroom flat on an AST - 442sq.ft - current rent £6,300 pa.
One bedroom flat on an AST - 353sq.ft - current rent £6,600 pa.
One bedroom flat on an AST - 397sq.ft - current rent £6,600 pa.
One bedroom flat on an AST - 397sq.ft - current rent £6,300 pa.
4,631sq. ft – Total income £68,820 pa.
The property is located in the Birmingham suburb of Small Heath and is situated on Hob Moor Road close to its junction with Newbridge Road. The property forms part of a parade of local shops with the surrounding properties comprising retail premises on the ground floor with residential flats above. The property is situated in a residential area.
The property is situated approximately 3 miles east of the centre of Birmingham. Birmingham Heartlands Hospital is approximately ½ a mile to the north. The property is approximately ¾ of a mile north of the main A45 Coventry Road which in turn leads to the Bickenhill Interchange at Junction 6 of the M42 motorway
We understand that VAT will not be chargeable on this transaction
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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