522 Hagley Road West, Oldbury, West Midlands, B68 0BZ

Freehold Investment Opportunity

Property details

Type Investment
Tenure Freehold, subject to the existing tenancies.
Price Offers based on £300,000
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Features
  • Freehold mixed use investment opportunity
  • Ground floor Takeaway let on a 20-year lease from 24/10/2022
  • 3 bedroom apartment above let on AST
  • Total income - £24,000 per annum
  • Offers sought on £300,000
Description

The property comprises a ground floor fast food takeaway restaurant with a self-contained duplex apartment to the first and second floors.

Location
The properties occupy a prominent mid parade position on the main A456 Hagley Road West in Quinton, close to the main crossroads with the A4123 Wolverhampton Road. The property is approximately 1 mile north eats of junction 3 of the M5 motorway and lies approximately 4 miles west of Birmingham City Centre. Other nearby occupiers include Greggs ( next door) , McDonalds, Lloyds Pharmacy and Bet Fred.
Accommodation
Ground floor – the ground floor extends to approximately 680 sq. ft. with ancillary areas and staff toilets to the rear.
First and Second Floors – A self-contained 3 bedroom apartment accessed via the rear of the subject property.
Tenure
Freehold, subject to the existing tenancies.
Tenancy
Ground Floor – Let to Balti Herbs and Spices takeaway for a term of 20 years at a passing rent of £18,000 per annum.
First Floor – let on an assured short hold tenancy at a passing rent of £6,000 per annum

Total Income - £24,000 per annum.
Price
Offers in the region of £300,000 are sought for the Freehold interest, subject to the existing tenancies.
VAT
We are advised that VAT is not applicable. However, if VAT is payable, then it is anticipated that this will be dealt with by way of a TOGC.
EPC
Available upon request.
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.