7 bedroom commercial property for saleINVESTMENT PROPERTY 139, Handsworth Wood Road, Browns Green, Birmingham
- 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
● Rental income from 5 flats and one studio
● Back garden development subject to planning
● Posssible conversion and extension to bedsits to improve income
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.
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.
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
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.
● Improve existing accommodation to maximise rent
● Divide or let the two bedroom apartment
● Possible conversion and extension to bed sits
We understand the property is freehold.
Offers are sought of £495,000 for the freehold of the entire property subject to contract only.
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.
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.
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.
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.
The successful purchaser will need to provide either a satisfactory bank reference and / or two trade references for approval.
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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