263 Beeches Road, Birmingham, West Midlands, B42 2QS

For Sale by private treaty.

Offers based on £65,000 are sought for the long leasehold interest. A purchase at this level reflects a net initial yield of 8.31% after usual purchaser's costs..

Retail Investment Opportunity In Birmingham.

The properties comprise a ground floor purpose built corner retail unit, currently operating as a beauty clinic, The property is located within an established parade of similar properties and is sold with the further benefit of the ground rent income from the flat above. The shop extends to 590 sq ft

Accommodation
Ground floor retail unit with retail area, staff room, storage & WC.

Location
The property is situated on Beeches Road within a well-established predominantly residential area of Birmingham known as Perry Beeches.
Beeches Road runs between the Walsall Road (A34) and Aldridge Road and is around 4 miles to the north of Birmingham City Centre.

Tenancy
The property is let in it's entirety to Blast Beauty Clinic, a long term tenant who's current lease runs from 17/04/2019 to 16/04/2029. The passing rent is £5,400 per annum.
The ground rent of 275 Beeches road is also included , which equates to £100 per annum. The lease runs for 125 years from 04/05/2006 until 03/05/2131.
The total annual income is £5,500 per annum

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

Business Rates
Current rateable value (1 April 2023 to present) - £5,400

EPC
Available upon request.

Service Charge
There is a service charge payable by the occupational tenant towards the upkeep of the communal areas. Further details are available upon request.

Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.