FOR SALE 83-84 High Street, Cradley Heath, B64 5HA

SIGNIFICANT MIXED COMMERCIAL & RESIDENTIAL FREEHOLD INVESTMENT OPPORTUNITY Producing a net income of £41,580 per annum Comprising 3 retails units & 4 residential flats Net initial yield (NIY) 6.7% (after allowing for purchasers costs) On street parking available immediately fronting the property

Price: Offers in the region of £525,000 (Exclusive)

hallsgb.com 01743 450 700 FOR SALE 83-84 High Street, Cradley Heath, B64 5HA

LOCATION The property is prominently located upon Cradley Heath High Street, Cradley Heath is a small town and ward in the area of the borough of , .

Nearby multiples include Lloyds, Tesco, Iceland, Sense and Compton Hospice. Cradley Heath is approximately 3 miles north west of and approximately 12 miles west of City Centre.

Cradley Heath High Street is located 0.5 miles distance from Cradley Heath train station giving railway access into Worcester city centre and Birmingham city centre.

DESCRIPTION The property comprises a three storey mid terrace building with three retail units to the ground floor and four flats, known as Central Chambers, to first and second floors.

The ground floor accommodation comprises:-

•Mini market/off-license, having ancillary accommodation and access to the rear storage space. •Leo’s Hair Design, a popular and busy hairdressers which has been established since Spring 2012 abuts the mini market. •Vape shop

ACCOMMODATION (All measurements are approximate only) sq ft m sq

Ground Floor Retail 1,637 152.2 Ancillary 696 64.56 First Floor Flats 943 87.62 Second Floor Flats 916 85.09 TOTAL 4,192 75.5

PRICE Offers in the region of £525,000 (Five Hundred and Twenty Five thousand pounds only).

PLANNING Interested parties are advised to make their own enquiries to the local authority.

EPC E (124)

hallsgb.com 01743 450 700 FOR SALE 83-84 High Street, Cradley Heath, B64 5HA

TENURE The property is to be sold Freehold, held Title Number #WM741985 and subject to the following tenancies:

UNIT START DATE LENGTH OF TENURE RENT – PER ANNUM Unit 1 – Retail 3rd May 2016 5 years £6,600 Unit 2 – Retail 3rd June 2016 5 years £6,000 Unit 3 – Retail 1st April 2019 5 years £5,760 Flat A – Residential 24th February 2018 12 months £6,120 Flat B – Residential 28th June 2019 12 months £5,400 Flat C – Residential 23rd May 2019 12 months £6,300 Flat D – Residential 25th October 2019 12 months £5,400 TOTAL £41,580

Full copies of leases and assured shorthold tenancy agreements (ASTs) are available via the selling agents.

hallsgb.com 01743 450 700 FOR SALE 83-84 High Street, Cradley Heath, B64 5HA

RATEABLE VALUE Interested parties should make their own enquiries to the local authority.

SERVICES (Not tested at the time of our inspection) All mains services are understood to be connected and available at the property.

LEGAL COSTS Each party is responsible for their own legal costs.

VAT It is understood that the property is not elected for VAT.

LOCAL AUTHORITY Sandwell Council, Sandwell Council House, Freeth Street, Oldbury B69 3DE

01743 450700 Viewing via the sole agents: James Evans - 07792 222 028 E: [email protected]

Lucy Wilde - 07795 486 267 E: [email protected]

IMPORTANT NOTICE Halls have advised their clients on the Code of Practice for Commercial Leases in and Wales. Halls, enquiries in this regard. iii) Neither Halls nor any of their employees has any authority to make or give any representation or warranty for themselves and for the vendor of this property, or as the case may be, lessor whose agent they are, given notice that: i) These whatsoever in relation to the property. iv) The images show only certain parts and aspects of the property at the time they were taken/ particulars are intended for guidance only. They are prepared and issued in good faith and are intended to give a fair description but created. Any areas, measurements or distances given are approximate only. Any plans are for identification purposes only. v) Any do not constitute part of an offer or contract. Any information given should not be relied on as a statement or representation of fact or reference to alterations to, or use of, any part of the property is not a statement that any necessary planning, building regulations or that the property or its services are in good condition. ii) Halls have not made any investigations into the existence or otherwise of any other consent has been obtained. An intending purchaser must verify these matters. An occupier should not rely upon the Use stated issues concerning pollution and potential land, air and water contamination. The purchaser is responsible for making his or her own in these particulars and should check their proposed use with the relevant Planning Authority. hallsgb.com 01743 450 700