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Under Offer
£199,999

Retail Shop + 2 Bedroom Self Contained Flat-Maryland Avenue, Birmingham

Maryland Avenue, Birmingham, West Midlands, B34 6EA

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0121 740 1000

Key Features

  • Freehold Mixed Use Investment
  • Retail Unit With Self Contained Flat
  • Current Gross Income: £11,700 pa. / £975 pcm
  • Retail Unit With Two Bedroom Self Contained Flat
  • 976ft2 (91m2)
  • Potential For Rental Increase To £16,200
  • Retail Unit Due For Rent Review May 2022

Summary

Mixed use investment opportunity - Potential For Rental Increase - Ground floor retail shop plus two bedroom self contained flat with separate rear access. Current rental income £11,700 p.a

Description

DESCRIPTION

The property comprises a two storey mid terrace of brick construction with a pitched tiled roof.

The property is currently configured to provide a retail unit on the ground floor occupied by a well established fishing tackle and pet food store, having a main retail area, kitchen, WC, store and enclosed yard.

At the rear there is a entrance to the self-contained living accommodation having a lobby entrance and kitchen on the ground floor whilst on the first floor there is a lounge, bathroom and two bedrooms

Set over approx 976ft2 / (91m2) .

TENURE:

The property is freehold and is being sold with tenants in situ.

The ground floor retail shop is let for  £500 pcm / £6000 p.a.

The flat is rented on a 6 month ast from January 2020 at £475 pcm.

The total combined income is £11,700 per annum.

We are advised that the ground floor retail unit is let by way of a new Lease for 5 years with effect from November 2019 at a current rental of £6,000 per annum. There is provision for a rent review in May 2022. The current tenant is well established having been in occupation for approximately 12 years.

INVESTMENT

The property is currently let for £11,700 p.a but there is scope for potential increase for circa £16,200 p.a (Buyers are advised to carry out their own due diligence)

LOCATION

The property occupies a prominent position within a parade of similar properties fronting Maryland Avenue near its junction with Hodge Hill Road opposite the Raven Public House. The property is situated within the popular residential suburb of Hodge Hill which lies approximately 7 miles east of Birmingham city centre.

VAT

VAT is not applicable on this transaction.

EPC

Available upon request.

Viewings

Strictly by appointment through The OPA.

BUYERS FEE

Buyer's Fee of 2% of The Purchase Price (Minimum £1800). 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.

1. 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.

Misrepresentation Act 1967: The Online Property Agency 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 themselves as to their accuracy.

Floor Plan