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Commercial Development for sale

Spring Head, Wednesbury, West Midlands

Offers Over £650,000

Property Description

Key features

  • Investment Opportunity
  • 9 Apartments & 5 Shops
  • Excellent Access & Parking
  • Attractive Yield - 10%
  • Early Viewing Recommended
  • Ideal Location (EPC C - G)

Full description

*EXCITING MIXED USE INVESTMENT OPPORTUNITY* VIBRANT TOWN CENTRE LOCATION* 5 RETAIL SHOPS* 9 DUPLEX APARTMENTS* ROAD FRONTAGE* FULLY OCCUPIED* 10% YIELD - £70,000+ PER ANNUM* FULLY OCCUPIED* EARLY VIEWING ADVISED*

Location - Mixed use residential / retail proposition strategically situated on a bustling road on the periphery of Wednesbury Town centre. Convenient access to transport networks, amenities and densely populated urban area.

Description - Exciting and rare opportunity to acquire this well-established and independently owned freehold complex comprising 9 separate apartments and 5 retail / office premises. We understand there are 8 one bed apartments and 1 two bed apartment with the majority designed in a duplex (two story) design. A fine example of a traditional style detached building, once a Mill - now converted for mixed use investment purposes. We believe all apartments and retail units are occupied and bring in an income in excess of £70,000 (to be verified) - approximately 10% Yield. To the rear of the premises are adequate parking provisions.

The site benefits from all main services, various security features, partial double glazing and and gas central heating systems.

It is believed there is a designated parking space away from the building. An agreement is understood to be in place with Tesco to the rear for local business owners to use their parking facilities. (To be verified.)

Situated on the periphery of Birmingham in a desirable position on the junction of Coleshill Road, a densely populated urban area. Offering convenient access to a variety of amenities and transport networks.

Viewing is necessary to appreciate the size, location, potential and standard of this investment proposition.

Access & Parking - The building is accessed from the front and rear with separate access to the ground floor retail premises. Attractive pedestrian area to the front with on road parking. Private parking area to the rear for residents and tenants.

9 Apartments - Welcoming and spacious apartments comprising 8 one bed and 1 two bed variants in the main with accommodation laid over two floors (Duplex).

5 Retail Shops - Neutrally decorated office environment with suitable window frontage and ample telecommunication points, power and lighting. Parking provisions available.

Services - Mains water, drainage and electricity are believed to be connected, but prospective tenants should satisfy themselves in this respect. (Not tested).

Availability - The premises are currently occupied. Please enquire regarding further information.

Tenure - We have been advised by the vendor that the property is FREEHOLD. We have not been able to confirm this by reference to the title deeds and therefore prospective purchasers are advised to obtain verification from the vendors solicitors during pre-contract enquiries.

Title - Marwood Homes Ltd have not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Viewings - Strictly via the agents:

Marwood Commercial.

Vat - VAT may be applicable in respect of the retail shops.

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