Long Leasehold Investment Property Located In Kings Norton

Long leasehold Investment Property Located In Kings Norton
Ground Floor Commercial Let
Two Bedroom Flat Above
Income £14,520 (11.2%)

Ref 2499

Location
This delightful Investment Property which is located in Kings Norton, Birmingham. The property sits within a prominent and highly visible trading position within a small parade of shops to include a Post Office, Pharmacy and Michaels Supermarket. The immediate area is densely populated with residential properties and you are within close proximity to Kings Norton Business Park where there is a wealth of businesses and industry. Kings Norton Green is (0.6 miles), Kings Heath is (2.7miles) and Birmingham city centre (6.9 miles).

Asking Price: £129,950

Business Description
Veritas Business Sales are privileged to offer to the market this Investment property which is located in Kings Norton. The property is held on a 75 year lease from Birmingham City Council dated from 1980. The annual ground rent is £100.
The ground floor comprises of a commercial let which is on a 15 year lease which expires in 2027 and produces rental income of £7,800 pa. Above is a self-contained 2 bedroom flat held on 3 year tenancy agreement which produces rental income of £6,720 pa. Combined annual rental income is £14,520 which gives a (11.2%) return on investment.
This is a superb opportunity to purchase a fully let investment property and as such early viewing is highly recommended as this is not to be missed.

Ground Floor
Retail takeaway
Kitchen/ preparation room with rear exit door and boiler cupboard
W/C with wash basin

External
Rear yard. Side access with stairs leading to the first floor

First Floor
Entrance door leading into a small porch
Kitchen
Lounge
Hallway with stairs leading to the second floor

Second Floor
Double Bedroom
Double Bedroom
Bathroom with bath, W/C and wash basin

The flat benefits from gas fired central heating and UPVC double glazing

EPC Rating C