Block of flats for sale in 459-465 Warwick Road, Tyseley, Birmingham B11

Guide Price = £580,000 - £600,000

Property for auction on 22nd May at 13:00 at Avery Fields, 79 Sandon Rd, Birmingham B17 8DT - Public Auction including Live Stream & Telephone Bidding.

Property Description:
A valuable investment opportunity comprising of an unbroken block of four, three storey traditional built properties of brick construction with pitched tile clad roofs prominently located at the junction of Warwick Road (A41) and Boscombe Road.

The property was converted many years ago into four retail shops and eight separate self-contained flats, all with separate utility meters and two flats are approached directly from Warwick Road with the remainder accessed from the rear off Boscombe Road.

The flats are all well laid out and benefit from mostly UPVC double glazed windows, either gas fired central heating or electric storage heating and have well planned communal access with rear gardens and in addition there are two lock up garages located off Boscombe Road.

The property forms part of a traditional mixed use area containing a variety of traditional houses surrounded by commercial premises and is conveniently located 3 miles to the South-East of Birmingham City Centre and within 1 mile of both Sparkhill and Acocks Green Shopping Centre's.

Tenancy Information
Retail/Offices
459-461 Warwick Road t/a Nationwide Lettings: Let on a 12 months licence since 2006 (currently holding over) at a rental of £485 p.c.m. (£5,820 p.a.).
463 Warwick Road t/a Print Enterprise: Let on a licence since 2010 (currently holding over) at a rental of £375 p.c.m. (£4,500 p.a.).
465 Warwick Road t/a Vision All UK Ltd: Let on a licence for 12 months from 2019 (currently holding over) at a rental of £325 p.c.m. (£3,900 p.a.).

Residential Flats
All flats are Let on Assured Tenancy Agreements at the following rentals:
Flat 1/459: Rental £495 p.c.m. (£5,940 p.a.)
Flat 2/459: Rental £400 p.c.m. (£4,800 p.a.)
Flat 1/461: Rental £525 p.c.m. (£6,300 p.a.)
Flat 2/461: Rental £495 p.c.m. (£5,940 p.a.)
Flat 1/463: Rental £425 p.c.m. (£5,100 p.a.)
Flat 2/463: Rental £435 p.c.m. (£5,220 p.a.)
Flat 1/465: Rental £350 p.c.m. (£4,200 p.a.)
Flat 2/465: Rental £475 p.c.m. (£5,700 p.a.)

Total Rental Income: £57,420 per annum.
Note: The seller has owned the property for many years and has taken a tenant friendly approach to rent reviews and therefore there may now be significant potential to increase the rental income.

Accommodation:
Ground Floor
459/461: Double Fronted Office, Managers Office, Toilet with WC. 52.41 (564 sq.ft)
463: Front Office, Rear Office, Toilet with WC. 29.3 (315 sq.ft)
465: Front Office, Rear Office, Toilet with WC. 29.3 (315 sq.ft)

Flat Accommodation:
Flat 1/459: Ground Floor: Hall, Kitchen, Bathroom, Lounge. First Floor: Large Double Bedroom. 30.14 (324 sq.ft).
Flat 2/459: External Stairs to First Floor: Hall, Lounge, Kitchen, Bathroom. Second Floor: Large Double Bedroom. 40.77 (438 sq.ft).
Flat 1/461: Ground Floor: Hall, Bathroom, Lounge, Breakfast Kitchen. First Floor: Large Double Bedroom. 48.45 (521 sq.ft).
Flat 2/461: Shared Front Entrance, Stairs to First Floor: Lounge, Kitchen, Bathroom, Second Floor: Large Double Bedroom. 50.98 (548 sq.ft).

Flat 1/463: Ground Floor: Hall, Breakfast Kitchen, Bathroom, First Floor: Bed/Living Room. 33.12 (356 sq.ft).
Flat 2/463: Ground Floor: Shared Front Entrance, First Floor: Lounge, Kitchen, Bathroom, Stairs to Second Floor: Double Bedroom. 44.85 (482 sq.ft).
Flat 1/465: Ground Floor, Entrance Hall, Breakfast Kitchen, Bathroom, First Floor, Bed/Living Room. 35.86 (386 sq.ft).
Flat 2/465: Hall and Stairs to First Floor, Breakfast Kitchen, Lounge, Second Floor: Double Bedroom, Bathroom. 56.6 (610 sq.ft).

Outside:
Forecourt, Two Lock Up Garages located to side.
Rear: Communal access, Bin Stores and Gardens.

Legal Documents:
Available via

Completion: 56 days from exchange of contracts.

EPC Rating: Refer to Legal Pack

Council Tax: Each Flat is Band A

Viewings: Via Cottons A large quantity of internal/external photos are available on our website.