Property Information
Address:
11, Highfield Road, Birmingham
, B28 0EL
Price: Property no longer available.
Size: 63 to 93 sqm
Primary Category: Investment
All Categories:
Investment, Leisure,
Property Ref/Movehut: MH540287
Property Ref/Agent: 11 Highfield Road
*Please use the agent ref when calling the agent directly.
Property description
FREEHOLD INVESTMENT opportunity with RESTAURANT and RESIDENTIAL property. Based in popular HALL GREEN and currently generating circa. £28,000 PER ANNUM.
Location
The premises are located within a small retail parade fronting Highfield Road, close to its junction with the Stratford Road in the Hall Green area of Birmingham.
The parade comprises a mix of retail and office users and is well located for access to Solihull Town Centre, some 4 miles distance and Birmingham City Centre some 6 miles to the North West.
All local amenities are in the immediate vicinity including, schooling, transport and shopping etc.
Description
The property comprises a centre terraced building of three storey brick construction surmounted by a pitched tiled roof and standing back from the road behind a paved forecourt.
Parking is provided to either the front forecourt or alternatively to the rear of the property with access over a shared right of way.
The premises comprise a ground floor restaurant premises with glazed display window and electric roller shutters having a solid floor, suspended ceiling, fluorescent lighting and air conditioning.
To the upper floors comprise a single duplex apartment, which could easily be split to increase the annual rental received.
Tenancy Information
Ground Floor
Lease dated July 2007 for 15 years to Giovanni di Leva.
Rent Reviews (RPI Linked) July 2018 and 2021
Rental £16,500 pa
Upper Floors
Let on an AST at 1,000 PCM inclusive of utilities
Asset Management
There is scope for a further increase upon a new Assured Shorthold Tenancy agreement in October as well as the potential for conversion to two 1x bedroom flats at an estimate of between £1,050 and £1,100 PCM.
Price / Tenure
Offers in the region of £335,000 are sought for the freehold interest in this property, subject to contract.
Legal Costs
Each party are to be responsible for their own legal and surveyor’s costs incurred during this transaction.
Services
All mains services are connected on or adjacent to the subject property.
Viewings and Further Information
Strictly via the sole selling agent Siddall Jones on 0121 638 0500
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