0 bed (for sale) High Street, Erdington, Birmingham B23

£2,699,999
Add to Basket Basket Looks Interesting
agent logo
The Online Property Agency
Sovereign Court, Graham Street, Birmingham
0121 659 2987
First Published

21st Jul 2022

Last Published

9th Aug 2022

 

Features

  • Type:
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Description


The opa are pleased to present this exciting opportunity to acquire three prime retail units (10,262 Sqft) fronting Erdington High Street and circa 48,000 Sqft of vacant office space with planning for Conversion into 23 Apartments and may be sold STP for 47 residential apartments. The site further boasts a secured gated car park with approx. 40 parking spaces and loading bay.

The site comprises a large 3- and 4-storey flat roof building on the corner of High Street and Newman Road in Erdington. The site is situated within the Primary Shopping Area of the Erdington Local Centre and comprises retail uses, including a farmfoods supermarket, on the ground floor and offices on the upper floors.


Accommodation


Retail Units

The premises comprise of 3 x ground floor sales with rear ancillary stores and staff facilities.

Office Units

The offices are set over three floors, offering very well laid out bright and airy accommodation. The offices boast 2 lifts (and service lift), each floor has wc facilities, kitchen areas and a mixture of open plan and executive offices, air conditioning and central heating facilities.


Tenure


The office accommodation is vacant and two of the retail units are let and producing income of £72,500 p.a.

See schedule below:

Retail Unit 1 £30,000 Rent p.a

Lease Expiry 18/07/2028

Rent Review : 2026

Retail Unit 2 vacant

Potential Rental Income Circa £25,000

Retail Unit 3 £42,500

Lease Expiry 24/03/2023


Planning


2021/09918/pa - Prior approval notification for a change of use of upper floors from office (Use Class E(g)(i)) to 23 no. Apartments (Use Class C3).

We are advised that the property may be sold subject to planning for 47 apartments:

Summary of proposed 47 apartments

36 x 1 Beds

10 x 2 Beds

1 Studio

1 Overnight Concierge Accommodation

First Floor Areas Accommodation Floor Area (SqM)

01 1 Bedroom 57

02 2 Bedroom 68

03 2 Bedroom 68

04 2 Bedroom 43

05 1 Bedroom 43

06 1 Bedroom 44

07 1 Bedroom 54

08 1 Bedroom 50

09 2 Bedroom 61

10 2 Bedroom 78

11 2 Bedroom 70

12 1 Bedroom 44

13 1 Bedroom 43

14 1 Bedroom 63

15 1 Bedroom 64

16 1 Bedroom 57

17 1 Bedroom 45

18 1 Bedroom 45

Communal 40

Circulation 337

Second Floor Areas

19 1 Bedroom 56

20 2 Bedroom 68

21 2 Bedroom 68

22 1 Bedroom 43

23 1 Bedroom 43

24 1 Bedroom 44

25 1 Bedroom 54

26 1 Bedroom 50

27 1 Bedroom 56

Staff Accommodation 57

28 1 Bedroom 58

29 1 Bedroom 45

30 1 Bedroom 46

31 1 Bedroom 65

32 1 Bedroom 55

33 1 Bedroom 53

34 2 Bedroom 68

35 1 Bedroom 43

36 1 Bedroom 44

Gym 40

Common Room 46

Circulation 411

Third Floor Areas

37 1 Bedroom 66

38 1 Bedroom 48

39 1 Bedroom 49

40 1 Bedroom 49

41 1 Bedroom 52

42 1 Bedroom 52

43 1 Bedroom 51

44 2 Bedroom 74

45 2 Bedroom 75

46 2 Bedroom 85

Circulation 98


Location


The property is situated to the southern end of Erdington High Street. Erdington is located approximately 5 miles north west of Birmingham City Centre in close proximity to the countries motorway network, via junction 6 of the M6 motorway.

The immediate area is a mixture of multiple retailers and local traders, with multiple retailers being Greggs, Ladbrokes, Halifax, Coral Bookmakers, Lloyds, Scope and Iceland.


EPC- D

VAT


We understand VAT is payable. However, it is understood the sale would be treated as a togc.


Viewings


Please contact The Online Property Agency for viewings.

Buyers Fee

Buyer's Reservation Fee of 2% of The Purchase Price. T&Cs apply.

The opa’s “Secure It Now Exclusivity Package”

This property is being offered under The opa’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Properties are realistically priced

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• Focuses on speed

• Mortgage buyer friendly

• Suitable for first time buyer

• Mortgage buyers and cash buyers compete on equal terms

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping and the

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.


Agent notes


In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a relative of a Partner of The Online Property Agency Ltd

money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The opa has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.


CC

 

Local info for B23

Floor plan

 

Property Value Data/Graphs for B23

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Semi-detached house 31.5% £209,496 2.9 1.1
Terraced house 23.7% £175,763 3.1 1.2
Flat 21% £102,211 1.6 1.2
End terrace house 8.2% £176,775 3.2 1.2
Detached house 7.3% £318,431 3.6 1.6
Maisonette 5% £100,000 2 1
Other 1.8% £390,612 1.5 0.8
Detached bungalow 0.5% £190,000 2 1
Block of flats 0.5% £900,000 14 0
Town house 0.5% £235,000 3 1

Area Information

Average Price Paid

£155,348

Sales

3343

Current Average Value

£185,210

Value Change

£29,862 19.2%

 

Current Asking Prices in B23 Average: £185,210

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £140,000 (1) £155,694 (25) £201,882 (110) £256,047 (19) £257,475 (4)
Flats £87,143 (20) £109,996 (35) £104,500 (2) - -
All £89,660 (21) £129,037 (60) £200,143 (112) £256,047 (19) £257,475 (4)

Nearby Properties

0 bed Land () Suttons Drive, Great Barr B43 £7,000,000
8 bed Detached house () Green Lane, Wall, Lichfield WS14 £3,750,000
8 bed Detached house () Green Lane, Wall, Lichfield, Staffordshire WS14 £3,750,000
6 bed Detached house () Roman Lane, Little Aston, Sutton Coldfield, Staffordshire B74 £3,750,000
5 bed Detached house () Hillwood Road, Sutton Coldfield B75 £3,250,000
Property information powered by Zoopla