Lot 3 - 10 Highfield Road, Birmingham, B8 3QX
- Unconditional Online Auction Sale
- Guide Price* : £750,000 plus
- Commercial Investment
- Muli-let at an annual equivalent income of £80,400
- Part vacant and scope to increase income
- Good location
ON BEHALF OF THE FIXED CHARGE RECEIVERS: Multi let industrial /commercial estate with 10 units, part let at a current combined rent of £80,400 with scope to increase
Description
The property comprises a freehold industrial estate that comprises ten units (A to K) extending to 2836.58 sq.m (30,533 sq.ft) on a site of approximately 0.442 hectares (1.093 acres). The units are occupied for a variety of uses and include a snooker club, a gym and a bakery as well as more traditional industrial type uses. Nine of the units are occupied and let at a combined monthly rent of £6,700 equivalent to £80,400 per annum, There's scope to increase the rent roll through letting of the vacant units and upon lease renewals.
Location
Situated in Saltey, approximately 2 miles north east of Birmingham city centre the estate sits on a site that lies between Alum Rock Road and Havelock Road and is accessed via Highfield Road. The area is an established location for commercial uses and benefits from good public transport links, with bus routes running along Alum Rock Road and Alderley Park railway station is within 0.5 mile. The junction of the A38(M) and the A4550 and the M6 motorway are within 1.5 miles to the east and north respectively.
Tenure
Freehold.
Outside
The units share yard space adjacent to the site entrance.
Tenancies
The accommodation sizes and rent details are as per the Tenancy Schedule PDF that can be downloaded from the auctioneers bidding website (From the Related Documents Links).
EPC
To be confirmed.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £3,000 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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