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

£999,999
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The Online Property Agency
Sovereign Court, Graham Street, Birmingham
0121 659 2987
First Published

4th Sep 2022

Last Published

4th Sep 2022

 

Features

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

Description

Description


The opa are pleased to present this exciting opportunity to acquire three retail investment units located on the Erdington High Street with a rental income of £97,500 p.a and a fantastic rental yield of 9.75%.

The three retail units are sold as on a virtual freehold basis (ie a 999 year lease from completion) and subject to a peppercorn ground rent.

The shops fronting the high street are ground floor lock up shops with loading bay to the rear (upper floors not included)

See schedule below:

Total rental income: £97,500

Retail Unit 1 £30,000 Rent p.a

Lease Expiry 18/07/2028

Rent Review : 2026

Retail Unit 2

£25,000 - (Lease going through currently)

Retail Unit 3 £42,500

Lease Expiry 24/03/2023


Accommodation


Unit 1: 3496 SqFt

Unit 2: 2369 SqFt

Unit 3: 4397 SqFt

Total area 10,262 Sqft (approx)


Location


The property is situated along High Street Erdington at its junction with Newman Road, approximately 5 miles north-east of Birmingham City Centre.

The location benefits from excellent communication links, being only 1½ miles from Junction 6 of the M6 (“Spaghetti Junction”) and lying close to the affluent area of Sutton Coldfield.

The subject premises occupy a prime trading position, just to the south of the pedestrianised area of High Street.

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


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. Minimum Fee £2400. (All fees inclusive of VAT). 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.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

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.

“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The opa.”

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

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

Misrepresentation Act 1967: The opa for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselv

 

Local info for B23

 

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

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
6 bed Detached house () Roman Road, Little Aston, Sutton Coldfield B74 £2,950,000
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