67 Cape Hill, Smethwick, Sandwell, B66 4SF

Freehold Investment Opportunity

Property details

Type Investment
Tenure Freehold, subject to the existing tenancies.
Price Offers based on £900,000
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  • Freehold mixed use investment opportunity
  • Prominent corner location in popular suburb
  • Ground floor fast food restaurant let for 20 years from 2019
  • 5 fully let self contained flats above
  • Total annual income of £73,000 per annum
  • Offers invited based on £900,000

The property comprises a Grade II listed building with ground floor fast food outlet and basement strong room. There are 5 self-contained flats to the first and second floors. The property also benefits from car parking to the rear.

Smethwick is a popular and cosmopolitan suburb of Birmingham. The property is prominently located in a corner position on the junction of Cape Hill and Salisbury Road, approximately 200 meters from Windmills Shopping Centre with occupiers including Matalan, Shoe Zone, Iceland, Asda, Boots, Pure Gym and Home Bargains. Cape Hill is a busy local shopping street with an eclectic mix of local occupiers.
Ground floor – fast food outlet extending to approximately 1,854 sq. ft. ( 172.30 sq m)
First and Second Floors – 4 x 1 bed self-contained flats and 1 x 2 bedroom self-contained flat.
Basement – Storage
External – Rear car parking.
Freehold, subject to the existing tenancies.
Ground Floor – Let to Meatin for a term of 20 years at a passing rent of £30,000 per annum.
First and Second floors – All let on ASTs at a combined rental income of £43,000 per annum ( full breakdown available upon request)

Total Income - £73,000 per annum.
Offers in the region of £900,000 are sought for the Freehold interest, subject to the existing tenancies.
We are advised that VAT is not applicable. However, if VAT is payable, then it is anticipated that the sale will be dealt with by way of a TOGC.
Available upon request.
Legal Costs
Each party is to be responsible for their own legal costs that may be 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.