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

Freehold Investment Opportunity

Property details

Type Investment
Tenure Freehold, subject to the existing tenancies.
Price £300,000
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  • 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
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.

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

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.
Offers in the region of £300,000 are sought for the Freehold interest, subject to the existing tenancies.
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.
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.
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.