295 Vicarage Road, Kings Heath, B14 7NE

Freehold Mixed Use Opportunity For Sale

Property details

Type Investment
Tenure Freehold – Subject to the existing tenancies.
Price Offers Invited £395,000
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Features
  • A fully let Freehold mixed use investment
  • Ground floor shop with 3 flats above
  • Prominent and popular location
  • Producing an annual rent of £25,500 per annum
  • Freehold - Offers invited on £395,000
Location
The property occupies a prominent corner position at the junction of the A4040 Vicarage Road and Kings Road close to the centre of Kings Heath. Vicarage Road leads directly off the main Alcester Road South within immediate proximity of all local amenities and transport links.
Description

The property comprises a substantial part three story, part two story end terrace property. To the ground floor there is an established retail unit (currently trading as a hair and beauty salon) with separate access from the front and also the side. To the first and second floors there are three self-contained one bedroom flats accessed via the side elevation on Kings Road.

Price
Offers invited on £395,000.
Tenancy
The ground floor is let to Tandis Hair & Beauty for a term of 15 years from 13/8/2018, expiring 12/8/2033, with five yearly rent reviews. The passing rent is £10,200 per annum.

Flat 1 – Let on an AST at £450 pcm Flat 2 – Let on an AST at £450 pcm Flat 3 – Let on an AST - £375 pcm

The combined total annual rent is £25,500 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.