Offers in region of
£450,000
(£122.75/sq. ft)
Leisure/hospitality for saleQueens Head Inn, 24 Steelhouse Lane, Birmingham B4
3,666 sq. ft
Freehold
About this property
City Centre Location
Let 10 Years from 25 March 2023
Let to Empire Star (T/A Davenports)
Current Rental £36,000 Per Annum
Freehold
Offers Invited in the Region of £450,000 for the Freehold
Established Leisure Premises
Description
The property comprises an attractive mid-terrace building of traditional construction arranged over ground and three upper floors.
The ground floor is currently fitted out and operating as The Queen’s Head, a long-established public house trading under the Davenports brand.
The ground floor provides a welcoming bar area with extensive glazed frontage to Steelhouse Lane, together with fitted seating, bar servery, and ancillary areas to the rear. Externally, there is a popular pavement seating area providing additional covers under a retractable awning.
The upper floors provide a versatile mix of commercial and residential accommodation. The first floor comprises an attractive, predominantly open-plan bar and events area, providing characterful and flexible space suitable for meetings, functions and private events. A fitted bar is positioned to the left-hand side of the accommodation, with access to a covered external terrace/seating area. Welfare facilities are also provided at this level.
The second floor provides the principal kitchen facilities, together with additional storage accommodation and further welfare facilities.
The top floor comprises a self-contained two-bedroom residential apartment, providing ancillary living accommodation within the property.
The building benefits from an art deco-style façade, with vertical stone pilasters and large windows providing excellent natural light to all floors.
Location
The property occupies a prime position in Birmingham city centre, close to Snow Hill Station, Colmore Row, and the city’s professional and leisure district. Nearby occupiers include a mix of independent bars, restaurants, and national operators, ensuring strong footfall throughout the day and evening.
Tenure
Freehold
Tenancy Information
The property is let on a 10 year lease from 25th March 2023 to Empire Star, trading as Davenport at a passing rental of £36,000 p/a.
Further information is available from the agent.
Price
Offers in the region of £450,000 are sought representing a net initial yield of 7.75%, taking into consideration purchaser costs at 3.17%.
The price represents a low capital value of just £122.74 sq ft.
The property comprises an attractive mid-terrace building of traditional construction arranged over ground and three upper floors.
The ground floor is currently fitted out and operating as The Queen’s Head, a long-established public house trading under the Davenports brand.
The ground floor provides a welcoming bar area with extensive glazed frontage to Steelhouse Lane, together with fitted seating, bar servery, and ancillary areas to the rear. Externally, there is a popular pavement seating area providing additional covers under a retractable awning.
The upper floors provide a versatile mix of commercial and residential accommodation. The first floor comprises an attractive, predominantly open-plan bar and events area, providing characterful and flexible space suitable for meetings, functions and private events. A fitted bar is positioned to the left-hand side of the accommodation, with access to a covered external terrace/seating area. Welfare facilities are also provided at this level.
The second floor provides the principal kitchen facilities, together with additional storage accommodation and further welfare facilities.
The top floor comprises a self-contained two-bedroom residential apartment, providing ancillary living accommodation within the property.
The building benefits from an art deco-style façade, with vertical stone pilasters and large windows providing excellent natural light to all floors.
Location
The property occupies a prime position in Birmingham city centre, close to Snow Hill Station, Colmore Row, and the city’s professional and leisure district. Nearby occupiers include a mix of independent bars, restaurants, and national operators, ensuring strong footfall throughout the day and evening.
Tenure
Freehold
Tenancy Information
The property is let on a 10 year lease from 25th March 2023 to Empire Star, trading as Davenport at a passing rental of £36,000 p/a.
Further information is available from the agent.
Price
Offers in the region of £450,000 are sought representing a net initial yield of 7.75%, taking into consideration purchaser costs at 3.17%.
The price represents a low capital value of just £122.74 sq ft.
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Monthly repayment
£2,251 per month
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