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7 bedroom commercial property for sale

INVESTMENT PROPERTY 139, Handsworth Wood Road, Browns Green, Birmingham

£495,000

Property Description

Key features

  • FREEHOLD INVESTMENT
  • INCOME PRODUCING
  • REAR GARDEN FOR DEVELOPMENT SUBJECT TO PLANNING
  • 1 X TWO BEDROOM, 4 X ONE BEDROOM AND ONE STUDIO FLAT
  • SCOPE TO CONVERT AND EXTEND TO BED SITS SUBJECT TO PP
  • ALONGSIDE HAMPSTEAD CAMPUS

Full description

Tenure: Freehold

PRIME INVESTMENT - FOR SALE - Offers based on £495,000 STC only

● Rental income from 5 flats and one studio
● Back garden development subject to planning
● Posssible conversion and extension to bedsits to improve income

LOCATION
Handsworth Wood Road, B4124, is a wide tree line road with a bus route and conveniently situated for arterial routes via the A34 and A41 to Birmingham city centre to the south. Handsworth Wood Road comprises of mainly large residential properties and is widely regarded as one of north Birmingham’s premier residential addresses.

DESCRIPTION
139 Handsworth Wood Road is a large “gentlemen’s“ semi detached Edwardian Villa that has been extended and now provides accommodation that has been divided to create an exceptionally large two bedroom flat, with basement storage, currently occupied by the owner, four large one bedroom flats and a studio all aranged over three floors plus the cellar storage. The property offers considerable potential to be extended and converted to circa thirty studio apartments, subject to planning, and the extensive rear garden offers potential for development with access either from a driveway from Handsworth Wood Road or from the rear, subject to planning. Utilising the driveway for access to the rear in this manner would leave two parking spaces to the front of the property. Tenants for the converted apartments may come from the nearby Hampstead Campus or from city workers seeking accommodation on a bus route.

PLANNING
Whilst we understand that the next door semi detached property is converted into bedsits, prospective purchasers are advised to satisfy themselves regarding current or intended uses of the property with the Local planning Authority.

Planning and Regeneration, Birmingham City Council, PO Box 28, Birmingham B1 1TU or www.birmingham.gov.uk or 0121 303 1115

POTENTIAL INCOME
The current tenancies are monthly rolling we understand from the vendor that the average income per flat is circa £550 pcm. The vendor currently lives in the ground floor two bedroom apartment and maintains the property himself and as such the property provides a good income. If the property were to be extended the income could be considerable based upon a rental of circa £75 per week per studio.

iINVESTMENT OPPORTUNITIES
● Improve existing accommodation to maximise rent
● Divide or let the two bedroom apartment
● Possible conversion and extension to bed sits

TENURE
We understand the property is freehold.

ASKING TERMS
Offers are sought of £495,000 for the freehold of the entire property subject to contract only.

COUNCIL TAX
The owner will be responsible for payment of all Council Tax levied on the two bedroom flat and any vacant units.We recommend prospective purchasers confirm rates payable with the Local Rating Authority - Birmingham City Council.

LEGAL COSTS
Each party will bear all their own costs in relation to this transaction including all fees, disbursements, expenses and VAT as appropriate.

FIXTURE AND FITTINGS
All fixtures and fittings, unless specifically mentioned in these particulars, are strictly excluded from the sale of this property.

SITE BOUNDARY
The extent of the property is shown approximately on the plan edged red. All plans are not to scale.

VIEWING Strictly by appointment with the Agents.

GENERAL TERMS

Services
The agent has not tested any apparatus, equipment, fixture, fittings or services and so cannot verify they are in working order or fit for their purpose. The tenant is advised to obtain verification from their solicitor or surveyor.

References
The successful purchaser will need to provide either a satisfactory bank reference and / or two trade references for approval.

Money Laundering
The successful tenant will be required to submit proof of identity, in accordance with money laundering regulations.

Fixtures & Fittings
Any fixtures and fittings not expressly mentioned within these particulars are excluded from the transaction.

Areas & Dimensions
All areas and dimensions are deemed to be approximate only.

© Walton and Hipkiss




Property ref: 121_1560_4048243

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Disclaimer - Property reference 4048243. 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 Walton & Hipkiss, Stourbridge - Commercial. 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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