Three Retail Units with Six Residential Units on Uppers
Tenants include Personal Training Services Limited and Midland Carpets & Furnishings Ltd
High Street Location just 1 mile from the University of Birmingham with nearby occupiers including The Co-Operative and Kumon Maths & English Centre
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 44
Auction 11th February 2016
Rent £71,528 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Joint LPA Receivers
Property Information
Location
Miles
4 miles south-west of Birmingham, 7 miles south-east of Dudley and 23 miles north-east of Worcester
Roads
A4040, A38, M5 (Junction 3)
Rail
University (Birmingham) Rail
Air
Birmingham International Airport
Situation
The property is situated in the popular area of Harborne, 4 miles south-west of Birmingham City Centre and 1 mile north-west of The University of Birmingham. The property is located at the western end of the High Street, close to its junction with Harborne Park Road (A4040). Nearby occupiers include The Co-Operative, Kumon Maths & English Centre and a number of local businesses.
Tenure
Freehold.
Location
Miles
4 miles south-west of Birmingham, 7 miles south-east of Dudley and 23 miles north-east of Worcester
Roads
A4040, A38, M5 (Junction 3)
Rail
University (Birmingham) Rail
Air
Birmingham International Airport
Situation
The property is situated in the popular area of Harborne, 4 miles south-west of Birmingham City Centre and 1 mile north-west of The University of Birmingham. The property is located at the western end of the High Street, close to its junction with Harborne Park Road (A4040). Nearby occupiers include The Co-Operative, Kumon Maths & English Centre and a number of local businesses.
Tenure
Freehold.
Description
The property comprises three ground floor retail units with six residential units above. The property benefits from a rear yard used for servicing/parking and six garages.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises three ground floor retail units with six residential units above. The property benefits from a rear yard used for servicing/parking and six garages.
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
334-340
Ground First
Retail Residential
632.47 sq m
4 x Two Bedroom Flats
(6,808 sq ft)
MIDLAND CARPETS & FURNISHINGS LTD (1)
5 years from 30/04/2014
£40,000
30/04/2019
342
Ground First
Betting Office Residential
97.82 sq m
1 x Two Bedroom Flat
(1,053 sq ft)
CORAL RACING LTD
5 years from09/12/2009 (3)
£18,000
08/12/2014
344
Ground
Gym
106.37 sq m
(1,145 sq ft)
PERSONAL TRAINING SERVICES LIMITED (t/a Tone Up UK)
5 years from 02/10/2012
£10,000
01/10/2017
346 Flat 6
First
Residential
1 x Flat
INDIVIDUAL
Regulated tenancy from 14/12/1987
£3,528 (4)
Total Commercial Area
£71,528 (3)
(1) Midland Carpets & Furnishings have over 25 years experience, and offer a wide range of brands and fine selection of carpets, beds and furnishings. (Source: http://www.midlandcarpets.co.uk/ 18/12/2015) (2) Some of the residential flats under the Midland Carpets & Furnishings Ltd lease have been sublet. (3) The tenant of 342 High Street is holding over. They are not in occupation of the retail unit and the residential flat above is currently sublet at a rent of £480 pcm (£5,760 pa). Coral Racing Ltd have served notice to determine their tenancy on 28/03/2016. (4) The rental income for the residential flat has been annualised.
Contacts
Seller's Solicitors
DLA Piper LLP Victoria Square House, Victoria Square Birmingham B2 4DL
