Commercial property for sale in Bates Hill, Redditch B97

Mixed residential and commercial investment, six flats let by way of ASTs and one vacant hot food takeaway with planning consent to convert to additional flat. Current rental income £43,080 pa gross with ability to increase to £51,580pa

Location

The Property fronts onto Unicorn Hill, which forms part of the traditional heart of Redditch Town Centre, linking Church Green with the Train Station and Bus Station.

The occupiers in the immediate vicinity include a range of national operators and local independents, including Wetherspoons, West Bromwich Building Society and Nationwide Bank.

Redditch Town Centre is conveniently accessed via The Ring Road, which provides access the M42 Motorway, with Junctions 2 & 3 being within approximately 4 miles.

Description

The Property forms part of a mixed-use terrace, with a prominent frontage onto Unicorn Hill.

The accommodation in 20 Unicorn Hill has been configured to create five one bedroomed flats and one studio apartment. Each of the properties are fitted to a good standard though out including Lounge and kitchen area, Bedroom and Shower Room with WC withinthe one bedroom units and Bedsitting area with kitchenette and Shower Room with WC in the Studio.

1 Bates hill currently comprises a ground floor vacant Hot Food Takeaway unit of some 445 sqft arranged as sales area, kitchen and WC. Planning consent has been granted to convert to one bedroom dwelling.

Asking Price

£630,000

Tenure

Freehold subject to five Assured Shorthold Tenancy (AST) at the following rents:

Flat 20 - £680pcm
Flat 20A - £425pcm
Flat 20B - £655pcm
Flat 20C - £680pcm
Flat 20D - £625pcm
Flat 20E - £525pcm
1 Bates Hill - Vacant.

The current Gross rent is £43,080 pa with ability to increase to 51,580pa

Services

All mains services are believed to be available, although gas is not currently connected.

Epc

Tbc

Legal Fees

Each party to pay their own costs.

Anti-Money Laundering

In accordance with Anti-Money Laundering Regulations, we require two forms of Identification and confirmation of source of funding from all Purchasers.

Viewing

Strictly by appointment with our Reception on .