Retail property (high street) for sale
Property description & features
- Tenure: Freehold
The property is set back from Bradford Road behind a tarmac forecourt providing customer parking and loading. A large loading area is also provided to the rear of the premises and is secured by a gated entrance.
The main building comprises four self-contained retail units to the ground floor with traditional shop fronts and rear welfare facilities.
The first and part second floors provide refurbished office accommodation which comprises a large reception area with welfare facilities and kitchen off.
To the rear of the property is a detached storage unit and located within an enclosed yard area.
8 and 8a School Road are also included within the sale and comprise a semi-detached house which has been converted to provide a ground and first floor x1 bed flat each with their own separate lounge, kitchen and bathroom.
Viewings
Strictly via the sole selling agent Siddall Jones on[use Contact Agent Button]
Location
The property is situated on Bradford Road at its junction with School Lane in the Castle Bromwich area of Birmingham.
Castle Bromwich is approximately 6 miles north east of Birmingham City Centre and benefits from excellent communication links with regular bus services close by and being situated within close proximity to Lea Hall and Stechford Train Stations.
The National Exhibition Centre (NEC) Birmingham International Airport and Railway Station are all within a 10-minute drive.
Terms
We are inviting offers in excess of £1,450,000 for the valuable freehold interest.
Tenancy Schedule/Details
Address Area Rental pa Term / Expiry
Unit A - Changes Hair Salon 525 ft2 £11,500 5Yrs Expiring 2025
Unit B - Titan Barbers 400 ft2 £11,500 Expired 2019 (Holding Over)
Unit C 740 ft2 Vacant Vacant
Unit D - Castle Convenience 990 ft2 £25,000 5yrs expiring 2027.
First Floor 3,040 ft2 Vacant Vacant
Rear Stores 355 ft2 £5,000 Rolling Licence
8 School Lane First Floor £6,000 AST – 12m
8a school Lane Ground Floor £5,520 AST – 12m
Although the upper floors can be sold with vacant possession. The vendor is prepared to take a short-term lease back on the space with rental to be agreed.
It is our opinion the ERV is in the region of £113,000 per annum with the potential to also covert the uppers to residential, subject to planning.
Property information from this agent
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