Commercial Property for sale

882-884 Bristol Road South, Birmingham, B31

Offers in Region of 1,902 sq. ft. | £450,000

Property Description

Commercial information

  • 1,902 sq ft (176 sq m)

Key features

  • Prominent location in Northfield
  • Ground floor retail unit with 4 apartments above
  • Net income: 36,996 pax
  • NIY of 7.23% allowing for purchasers costs of 4.47%

Full description

Tenure: Freehold

DESCRIPTION
This opportunity comprises a fully let three storey property incorporates a ground floor retail shop and four one bedroom apartments above producing an income of 36,396 per annum.

LOCATION
Northfield is an appealing suburb of Birmingham to the south-west of the city centre. The Bristol roads run through Northfield leading all the way to the city centre or in the opposite direction to the nearby Junction 2 of the M42.

The property occupies a prominent location on the Bristol Road South, the property is surrounded by many well known retailers including Aldi, William Hill, KFC and Sainsburys.

TENANCY INFORMATION
Unit NoTenantLease StartLease ExpiryCurrent Rent
Ground FloorEvans Estates AgentsSeptember 2015September 202715,996
Flat 1 - 29/11/2014Let on rolling AST5,100
Flat 2 - 01/05/2014Let on rolling AST5,100
Flat 3 - 02/02/2015Let on rolling AST5,100
Flat 4 - 03/12/2014Let on rolling AST5,100
Roof - - - Peppercorn
Total 36,996
PROPOSAL
450,000 is sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 7.23% based on a current income of 33,996 per annum after deducting purchases costs of 4.47%.

OPERATING COSTS
The vendor is responsible for on-going monthly operating
costs to include electricity for the flats above which equate
to circa 2,400 per annum.

VAT
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.

EPC
Available upon request.

More information from this agent

Nearest stations

  • Northfield (0.5 mi)
  • Longbridge (1.3 mi)
  • Kings Norton (1.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Northfield (0.5 mi)
  • Longbridge (1.3 mi)
  • Kings Norton (1.6 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 882-884_Bristol_Road_South_Northfield. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe, West Bromwich. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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