property
The property occupies a prime corner position at the junction of the A4514 Olton Boulevard East and the A4040 Fox Hollies Road, which forms part of the Outer Ringroad. The property therefore occupies a prominent location fronting two busy arterial routes in an area comprising well established retail parades, a Lidl foodstore and densely developed, predominantly semi-detached residential accommodation.
The property is located at the borders of Acocks Green, Hall Green and Solihull and is considered to offer great potential for a variety of retail uses and continue to attract residential tenants, given the convenient location and excellent local transport services including Spring Road Railway Station, which lies within close proximity.
The property comprises a prominent two/three storey block comprising 5 retail units and a former garage/tyre fitting outlet on the ground floor with 10 self contained residential units on the upper floors.
The 5 retail units briefly comprise a retail area with wcs and ancillary storage. The former tyre fitting outlet is accessed from Olton Boulevard East and also has a frontage to Fox Hollies Road, it comprises workshop and open yard. It is considered to offer great potential for change of use, possibly to a local convenience store, subject to obtaining the appropriate planning permission.
The living accommodation is accessed from Olton Boulevard East and Fox Hollies Road and comprises a two bedroomed flat located above the garage and two blocks of one bedroomed flats and bedsits with communal and staircase hallway.
The property is considered to offer long term potential to possibly reconfigure, subject to obtaining the appropriate planning permission, the ground floor accommodation and could possibly attract interest for a neighbourhood convenience store, operated by one of the large supermarket chains.
Commercial Investment
A Prominent Freehold Mixed Investment Property comprising 5 Retail Units, A Former Tyre Outlet and 10 Residential Units, with opportunities to enhance rental income.Current Rent Passing: £69,300 pa.Estimated Full Rental Value: £91,460 pa.
We understand that the property is Freehold and subject to the tenancy schedule below. Further details will be available within the legal pack.
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.
