273a & 285 Beeches Road, Birmingham, West Midlands, B42 2QS

Property Details: • Type: Commercial Development • Tenure: LEASEHOLD • Floor Area: N/A

Key Features:

Location: • Nearest Station: Hamstead Station • Distance to Station: 1.2306385466714407 miles

Agent Information: • Address: 1st Floor 75-77 Colmore Row Birmingham B3 2AP

Full Description: For Sale by private treaty. <br /> <br />Offers based on £205,000 are sought for the long leasehold interest. A purchase at this level reflects a net initial yield of 8.77% after usual purchaser's costs. <br /> <br />Retail Investment Opportunity In Birmingham. <br /> <br />The properties comprise a ground floor purpose built retail unit, currently operating as a takeaway, and a large 3 bedroom self-contained apartment. The properties are located within an established parade of similar properties. <br /> <br />Accommodation <br />273a Ground floor takeaway unit with front & side access. Retail area with sales counter, rear prep room & kitchen, staff WC's. <br />285 3 bedrooms, lounge, kitchen , bathroom, access from rear. <br /> <br />Location <br />The property is situated on Beeches Road within a well-established predominantly residential area of Birmingham known as Perry Beeches. <br />Beeches Road runs between the Walsall Road (A34) and Aldridge Road and is around 4 miles to the north of Birmingham City Centre. <br /> <br />Tenancy <br />Ground Floor let to Tinuola Odusola ( trading as Veggie Tadka) for a term of 7 years from 23/02/2024 , expiring 22/03/2031. The passing rent is £10,000 per annum and there is a rent review at 23/02/2027. <br />Flat let on an assured shorthold tenancy at a passing rent of £8,400 per annum with significant rental uplift potential <br />Total rental income - £18,400 per annum <br /> <br />VAT <br />We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard. <br /> <br />Business Rates <br />Current rateable value (1 April 2023 to present) - £5,600 <br /> <br />EPC <br />Available upon request. <br /> <br />Service Charge <br />There is a service charge payable by the occupational tenant towards the upkeep of the communal areas. Further details are available upon request. <br /> <br />Legal Costs <br />Each party is to be responsible for their own legal costs that may be incurred in this transaction. <br /> <br />Anti Money Laundering <br />In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.