67 Cape Hill, Smethwick, Sandwell, B66 4SF

Description

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.

Location

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.

Accommodation

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.

Tenure

Freehold, subject to the existing tenancies.

Tenancy

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.

Price

Offers in the region of £900,000 are sought for the Freehold interest, subject to the existing tenancies.

VAT

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.

EPC

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.