Retail premises for sale in New Road, Rubery B45

Fixed price £590,000 (£215.33/sq. ft)
Interested in this property? Call +44 20 3641 9157 * or Request Details

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Retail premises for sale 2,740 sq. ft*
Tenure: Not available Council tax band: Not available

Property features

  • Freehold Shop and Residential Investment
  • Comprising a double fronted shop and 3 self-contained flats
  • Shop tenant in occupation since 1986
  • VAT is not applicable to this property
  • Occupiers nearby include Co-op Food supermarket, Subway, Domino's Pizza, Farmfoo

Property description

Investment Consideration:
Gross Initial Yield: 7.52%
Rental Income: £44,340 p.a.
VAT is not applicable to this property
Comprising a double fronted shop and 3 self-contained flats
Shop tenant in occupation since 1986
Occupiers nearby include Co-op Food supermarket, Subway, Domino's Pizza, Farmfoods, Lloyds Pharmacy, Greggs and William Hill amongst many others

Property Description:
The property is arranged on ground and two upper floors to provide a double fronted ground floor shop with three self-contained flats above, access to which is via a communal rear staircase.

The property provides the following accommodation and dimensions:
Retail Shop: 127.7 sq m (1,374 sq ft)
No. 188A: Four Bedrooms, Kitchen, Bathroom
No. 190A (Flat 1): Two Rooms, Kitchen, Bathroom
No. 190A (Flat 2): Two Rooms, Kitchen, Bathroom

Tenancy:
The Ground Floor Shop is at present let to L. Horwood t/a Kennedy`s Mica Hardware for a term of 5 years from 28th September 2021 at a rent of £22,500 per annum and the lease contains full repairing and insuring covenants. Tenant has right to determine at the third year with 6 months notice. New lease starting in Sept 2021 on same basis as existing lease. Flat No. 188A (first/second floor) is at present let to Elite Support & Housing Ltd for a term of 3 years from 17th June 2020 at a current rent of £12,000 per annum. The tenant has option to determine giving two months notice. No. 190A (Flat 1) is at present let on an AST to an individual for a term of 6 months from 23rd April 2020 at a current rent of £5,100 per annum and rent deposit is held of £425. No. 190A (Flat 2) is at present let on an AST to an individual for a term of 6 months from 16th November 2020 (Holding Over) at a current rent of £4,740 per annum and rent deposit is held of £200.

Location:
Rubery is a southern suburb of Birmingham situated on the A38 some 8.5 miles south-west of Birmingham city centre. There are good road communications, with Junction 4 of the M5 Motorway being some 2 miles to the south-west. The property is well located on the south side of New Road and forms part of a larger and established parade of shops. Occupiers close by include Co-op Food supermarket, Subway, Domino's Pizza, Farmfoods, Lloyds Pharmacy, Greggs and William Hill amongst many others.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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