Freehold Commercial/Residential Investment for sale by Auction on Thursday 13th July 2023 (unless sold prior).
Location
Occupying a prominent trading position within this established local shopping parade including a Spar and a Post Office.
Monyhull Hall Road runs between the main A441 Pershore Road South and the A435 Alcester Road South, serving the surrounding pleasant residential community of King's Norton some 2 miles south-east of Bourneville and 5.5 miles south of Birmingham City Centre.
Accommodation
A mid-terraced building comprising a Ground Floor Shop with separate front access to a Large Self-Contained Flat at first and second floor levels.
In addition, there is an enclosed rear garden and forecourt parking for 2 cars.
Ground Floor Shop:
Gross Frontage 26'9"
Built Depth 32'3"
WC
Area Approx. 610 sq ft (Area taken from VOA)
First & Second Floor Flat:
Believed to be 2 Bedrooms, Living Room, Kitchen, Bathroom/WC
GIA Approx. 1,235 sq ft (Area taken from EPC)
Terms
VAT is NOT applicable to this Lot
FREEHOLD
TENANCIES:
Shop - Let on a full repairing and insuring lease for a term of 10 years from 28th July 2015 to Boots UK Limited (having over 2,200 branches) (T/O for Y/E 31/8/22 £6.512 billion, Pre-Tax Profit £4 million and Shareholders' Funds £1.815 billion) at £7,250 per annum exclusive.
Flat - Let on an AST for a term of 1 year from 21st August 2020 (Holding Over) to an Individual at a rent of £7,800 per annum.
TOTAL INCOME FROM SHOP & FLAT - £15,050 PER ANNUM with potential for rental increases (see Notes 1 & 2 below).
Note 1: The adjacent Shop (No. 139) is currently on the market at an asking rent of £15,600 p.a.
Note 2: The adjoining Flat (No. 139a) was recently on the market to rent for £13,200 p.a.