Offers over
£900,000
(£228.02/sq. ft)
Industrial for sale774 Bristol Road, Selly Oak, Birmingham B29
3,947 sq. ft
About this property
Offers in Excess of £900,000
Current Gross Income: £92,740
Rear Car Park
Long-Term Commercial Tenants with Newly Agreed 5 Year Leases
Seven Self-Contained Residential Units at First Floor
Scope for Further Development
Approx. 10.3% Gross Yield
Prominent A38 Bristol Road Frontage, Selly Oak
The property comprises a mixed-use investment prominently positioned at the junction of Bristol Road and Elliott Road.
The commercial accommodation includes two ground-floor retail units fronting Bristol Road, each providing predominantly open-plan sales accommodation with direct pedestrian access. The tenants have recently signed new 5 year leases totaling £26,500 per annum.
At first-floor level, the property provides seven self-contained studio apartments, all of which benefit from a Certificate of Lawfulness. The accommodation is accessed via a communal entrance from Bristol Road, with additional rear vehicular access available from Elliott Road.
The residential units are fully let to professional occupiers on Assured Shorthold Tenancies.
The residential element also benefits from communal ground-floor amenity accommodation, comprising a kitchen and dining area, pool table, WC facilities and a home gym. This space may be suitable for redevelopment to create a self-contained one-bedroom residential unit (STPP).
The residential accommodation is let on an all-inclusive basis, with gas and electricity not currently metered separately.
Externally, the property benefits from a clear, level rear car park providing parking for multiple vehicles, which is accessed via Elliott Road.
Location
The property occupies a prominent position fronting Bristol Road within the popular Selly Oak area of Birmingham, approximately 4 miles south-west of Birmingham city centre.
Bristol Road forms part of the A38, one of Birmingham’s principal arterial routes, providing direct access into the city centre and south towards Northfield, Longbridge and Junction 4 of the M5 motorway. The nearby A441 Pershore Road and A4040 Outer Circle Road provide convenient connections to the wider Birmingham conurbation.
Selly Oak Railway Station is within close proximity and provides regular services to Birmingham New Street, while numerous bus routes operate along Bristol Road. The property is also well placed for the University of Birmingham, Queen Elizabeth Hospital Birmingham and the wider Selly Oak Shopping Park.
The surrounding area comprises a busy mixture of retail, leisure, residential and student accommodation, with high levels of passing traffic and a substantial local catchment.
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Services
We understand that the building benefits from all mains services.
The agent has not tested the suitability of the connections and recommends that interested parties carry out their own investigations.
Tenancy Schedule
A full tenancy schedule is available via the agent.
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