property
The property is situated within a well established residential neighbourhood, close to Ward End Park. St Margarets Road runs off the main B4114 Washwood Heath Road.
The property is considered to benefit from a good immediate catchment area for trade.
The property comprises a two storey end of terrace, of brick construction with an artificial slate roof. The property has been extended to single storey height to the rear.
The property is divided to provide a ground floor off-licence and general store, with ancillary storage and wc. The upper floor comprises a self-contained flat, having one bedroom, lounge, kitchen and bathroom.
The property is considered to offer the potential to create a further studio type flat at first floor level, subject to obtaining the appropriate planning permission.
Commercial Investment
A Freehold Neighbourhood Retail and Residential Investment OpportunityPassing Rent £14,800 pa.
We understand that the property is Freehold. The ground floor is subject to a Lease for 15 years from March 2007, at a rental of £9,100 per annum. The first floor living accommodation is let by way of an Assured Shorthold Tenancy, at a rental of £475 per calendar month (£5,700 per annum).
We have not had sight of any documentation relating to the above tenancies and all interested parties must seek verification of this information by referring to 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.
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