Block of flats for sale in Sheldon Gardens, 492 Sheldon Heath Road, Sheldon, Birmingham B26

Guide Price = £1,250,000 - £1,350,000

Property for auction on 27th March at 13:00 at Avery Fields, 79 Sandon Rd, Birmingham B17 8DT - Public Auction including Live Stream & Telephone Bidding.

Property Description:
A three storey mixed use development constructed circa 2014/15 with rendered elevations, comprising 5 retail units (3 x single & 1 x double unit), all having been sold on long leasehold interests along with 14 x 2 bedroom apartments arranged over first and second floors and all currently let. A covered driveway leads through part of the ground floor directly from Sheldon Heath Road, onto a tarmacadam surfaced rear car park, with approximately 30 marked parking spaces.
Sheldon Heath Road is located within one mile via Brays Road from Coventry Road (A45) which provides access to a wide range of retail amenities, restaurants and services along with the M42 motorway (Junction 6), The nec, Birmingham Airport and Birmingham City Centre.

Planning
Interested parties should make enquiries with the planning department of Birmingham City Council. As regards planning history, we are aware of the following:
Application Reference: 2012/08537/pa. Erection of 2 x retail units with 14 x two bedroom flats above. Application granted 21st March 2013.
Application Reference: 2021/04282/pa. Permission in principle for the proposed extension to the existing apartment block to create additional apartment buildings. The amount of development shall be within the minimum to maximum of 7-9 apartments within a three storey building. Application granted 15th December 2021.

Accommodation:
We understand that the total floor area in respect of the residential accommodation is approximately 7,798 sq ft. There are seven flats on the first floor and seven flats on the second floor. All flats are finished to a similar specification to include kitchens.

With integrated electric ovens, hood and hobs and fitted with wall and base units. Bathrooms are all fitted to a similar modern standard with some bedrooms, having ensuite bathrooms.

Flat type A 6 No. Flats with two bedrooms and two bathrooms each have a floor area of 52.15 sq m (561 sq ft).
Flat type B 8 No. Flats with two bedrooms and one-bathroom have a floor area of 51.47 sq m (554 sq ft). The gia for the 14 flats is 725.27 sq m (7,798 sq ft).
Council Tax: All Apartments are Band A

Schedule of Rental Income

Tenure
The property is held freehold under title number WM841698.
The ground floor retail units are all subject to long leases for terms of 999 years at peppercorn ground rents. Refer to the legal documents for exact lease terms.

Legal Documents:
Available at

Completion:
56 Days from exchange of contracts or sooner by mutual agreement.

Viewings:
Via Cottons 3 ColumnsColumn 1Column 2Column 3ApartmentRent PCMTenant1£600Private Individual2£700Aspect Housing Limited3£575Private Individual4£615Private Individual5£600Private Individual6£600Private Individual7£600Private Individual8£700Aspect Housing Limited9£650Private Individual10£700Aspect Housing Limited11£700Aspect Housing Limited12£700Aspect Housing Limited14£650Private Individual15£700Aspect Housing LimitedTotal Rental Income£9,090£109,080 pa