Property for sale in Lodge Road, Hockley, Birmingham B18

Description

The opa are pleased to present this freehold multi-unit mixed use investment opportunity, with a rental income £2860 pcm / £34,320 p.a

This substantial property comprising of two shops with residential accommodation above and to the rear, plus a sizeable storage unit accessed via the rear, which may be suitable for a variety of uses, commercial and residential STP.

Accommodation

Shop Currently trading as Desert Shop / Take Away

Shop Currently trading as Letting Agent

1 x 1 bedroom flat to rear

4 x Flats to upper floors (3 x 1 Bedrooms, 1 x Studio)

Detached storage unit to rear.

We are advised the flats to the upper floors have separate meters.

Tenure:

Freehold sold with tenants in situ, generating a net rental income of £2860 pcm / £34,320 p.a.

Shop 1 (Desert Shop/ Take Away) ; £560 pcm/ £6720 p.a

Shop 2 (Letting Agent): £300 pcm / £3600 p.a

1 x 1 bedroom flat to rear ; £300 pcm / £3600 p.a

4 x Flats above shops (3 x 1 Beds, 1 x Studios)

Flat 1: £400 / £4800 p.a

Flat 2: £300 / £3600 p.a

Flat 3: £500 / £6000 p.a

Flat 4: £500 / £6000 p.a

Total Rental Income: £2860 / £34,320 p.a

Agent notes

Please note; we await confirmation of rents from vendor.
We are advised that the flats to the upper floors have seperate utilities, the flat to the rear of the building does not have separate metering.

Location

The property is conveniently located for Soho Road, the Jewellery Quarter and within easy reach of Birmingham City Centre & transport and public transport.

Birmingham

As the second-largest city in the UK, Birmingham has been undergoing a huge economic and cultural renaissance over the past few years, fuelled by the arrival of the new high-speed rail link, HS2, to London, bringing with it a multi billion injection into the local economy.

As well as being a core city within the UK, Birmingham also ranks as one of the most popular investment locations in Europe with £billions of investment into infrastructure projects across the city

Combined with the growing demand for property, this offers insight into why investors should consider the second city.

As the second largest city in the UK – with a population of 1.4 million – Birmingham continues to be a key investment location.

Birmingham rents have grown by 28% since 2009 and are set to grow by 10% over the next four years.

Global businesses such as HSBC, Deutsche Bank and PwC have all relocated their headquarters to Birmingham, creating a world-class network of career opportunities for residents.

Viewings

Please contact The Online Property Agency for viewings.

Buyers fee

Buyer's Exclusivity Fee of 2% of The Purchase Price. Minimum Fee £3000. (All fees inclusive of VAT). T&Cs apply.

The opa’s “Secure It Now Exclusivity Package” – this is a legally binding agreement between you are the seller. The buyer pays the exclusivity fee and enters into an “exclusivity agreement with the seller”, granting the buyer an exclusivity period, which is usually upto 8 weeks to complete on the purchase of the property. During the exclusivity period, the buyer has the exclusive right to purchase the property and during this period they should complete the sale transaction. If the buyer fails to complete in this period, the fee is non-refundable.

This property is being offered under The opa’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Properties are realistically priced

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• Focuses on speed

• Mortgage buyer friendly

• Suitable for first time buyer

• Mortgage buyers and cash buyers compete on equal terms

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping and the

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances / Carr out your due diligence/ Ask questions/ Get legal/ financial advice if required.

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The opa has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The opa.”

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a relative of a Partner of THE ONLINE PROPERTY AGENCY LTD

Misrepresentation Act 1967: The opa for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.