101 Alcester Road, Birmingham, West Midlands, B13 8DD

Location

Moseley is a desirable suburb of Birmingham, around 2.5 miles south of the city centre. The area is a popular cosmopolitan residential location and leisure destination, with a number of pubs, bars and restaurants. Moseley also benefits from having many boutiques and other independent retailers.
The property is located in a prime position in the centre of Moseley Village fronting the busy A435 Alcester Road. The historic and popular Moseley Park is located to the rear of the property. Nearby occupiers include Palermo, JAQKS, Dixons Estate Agents, One Trick Pony, Sorrento Lounge, amongst numerous others.

Property Description

The property is a three-storey mid-terrace Victorian building of traditional brick-built construction under a pitched slate roof. There is a small single storey extension to the rear.

Accommodation

Retail Accommodation
The ground floor comprises of a retail premises with a sales area to the front and ancillary accommodation to the rear. There is additional ancillary accommodation in the basement which is used for storage. It is understood that Oxfam has traded from this unit since 2011. There is a communal driveway to the rear and the retail accommodation has been allocated 1 car parking space.
The ground floor and basement comprises of the following approximate NIA floor areas:
Ground Floor: 804 square feet
Basement: 479 square feet
Residential Accommodation
The duplex flat is located on the upper floors and it is accessed from the rear of the property via a private external staircase. The flat benefits from various period features as well as views of Moseley Park from the rear.
The accommodation briefly comprises a hallway, spacious living / dining room, three bedrooms (one is currently used as an office), kitchen and a shower with a WC. The approximate NIA of each room is available upon request.
The residential accommodation has been allocated 1 car parking space to the rear of the property.


Tenure Comments

The property is held freehold.
Tenancy
The ground floor and basement is let to Oxfam on a 5 year internal, repairing and insuring lease expiring on 5th February 2029 at a passing rent of £15,750 per annum. There is a tenant only break clause on 5th February 2027.
Assured Shorthold Tenancy
The duplex flat is let furnished on a statutory periodic assured shorthold tenancy at a rent of £1,400 PCM. This equates to a rent of £16,800 per annum. Further details are available upon request.
Proposal
We are instructed to seek offers in the region of £472,500.
This represents a net initial yield of around 6.5% based on a rent of £32,550 (allowing for 6% of purchaser's costs).


Services

We understand the property is connected to all mains service.

VAT

VAT is applicable on the sale of the property.

EPC

The property has an EPC rating of Band C. A copy is available upon request.

Viewings

All viewings are strictly by appointment only.