186 Maryland Avenue, Hodge Hill, Birmingham, B34 6EA

Freehold Investment Opportunity For Sale

Property details

Type Investment
Tenure Freehold – Subject to the existing tenancies.
Price Offers Invited £195,000
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Features
  • A Freehold Mixed Use Investment
  • Retail unit with self contained flat.
  • Current Gross Income: £11,700 pa.
  • Freehold – Offers Invited on £195,000
Location
The property occupies a prominent position within a parade of similar properties fronting Maryland Avenue near its junction with Hodge Hill Road opposite the Raven Public House. The property is situated within the popular residential suburb of Hodge Hill which lies approximately 7 miles east of Birmingham city centre.
Description

The property comprises a two storey mid terrace of brick construction with a pitched tiled roof. The property is currently configured to provide a retail unit on the ground floor occupied by a well established fishing tackle and pet food store, having a main retail area, kitchen, WC, store and enclosed yard. At the rear there is a entrance to the self-contained living accommodation having a lobby entrance and kitchen on the ground floor whilst on the first floor there is a lounge, bathroom and two bedrooms.

Price
Freehold – Subject to the existing tenancies.
Tenancy
Tenancies The ground floor retail unit is let by way of a new Lease for 5 years with effect from November 2019 at a current rental of £6,000 per annum. There is provision for a rent review after 2 and a half years. The current tenant is well established having been in occupation for approximately 12 years. The first floor let is let on an AST at £475 pcm.

The total combined income is £11,700 per annum.
VAT
VAT is not applicable on this transaction.
EPC
Available upon request.
Legal Costs
Each party are to be responsible for their own legal costs 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.