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Restaurant With Development Opportunity, The Mill Walk, Northfield, Birmingham, B31 4HL

not specified / Leisure / Restaurants / Cafes

For Sale - £500,000.00

Sold - Last updated: 13 April 2022

A Freehold Restaurant building with first floor two bedroom flat which was recently let at a rent of £24,000 per annum and is now vacant.

The building has the scope to be re-let as an income producing investment or converted into four self-contained residential flats. A planning consent for the conversion of the ground floor into three self-contained 1 bedroom flats with the first floor being an existing self-contained 2 bedroom flat was granted by Birmingham City Council under application number 2019/02930/PA.

The building also has a further second floor area which is only accessible by ladders at present but has the potential for further accommodation (subject to the necessary consents).

Full plans and a copy of the planning permission are available upon request from the agent’s office.

A further planning permission was granted by Birmingham City Council under application number 2020/09593/PA for the erection of four bungalows to the rear of the restaurant on the existing car parking and lawn area. This consent consists of three 1 bedroom bungalows and one 2 bedroom bungalow. 

Location

Mill Walk is within walking distance to the train station and with good transport links to central Birmingham. 

Accommodation

Restaurant with planning consent for residential dwellings. 

Terms

The entire Freehold lot is available as a whole for £500,000, the residential property is not subject to the VAT but the commercial property is subject to VAT. The vendor informs us that VAT will be payable on approximately 50% of the sale value.

Any interested parties should seek their own independent tax advice on the matter.

Specification

  •  Freehold Lot
  •  Development Opportunity
  •  Potential for Rental Income from Restaurant
  •  Planning for 4 Bungalows
  •  Planning for 4 Flats
  •  Price £500,000 (partly subject to VAT) 

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £500,000.00 NA

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