Freehold Commercial and Residential Investment Opportunity on behalf of M J Cowlishaw & D J Langton, Joint Administrators.
The property is located on Tenby Street, in the Jewellery Quarter area of Birmingham, circa one mile northwest of Birmingham city centre. The surrounding area comprises predominantly offices/workshops and residential uses.
Tenby Street is well placed for all local amenities, access to the national motorway network via the A4540 and is located within close proximity to the Jewellery Quarter railway and Midland Metro stations.
The property comprises a three storey property situated around a central courtyard, with three ground floor retail/office units and six apartments at first and second floor levels.
The ground floor accommodation comprises a retail/office unit fronting on to Tenby Street and two beauticians/clinic units, plus an annex, accessed from the central courtyard.
The gross rental income currently produced is £47,400 per annum. With the two vacant flats re-let, the total income could be circa £64,500 per annum (i.e. £53,700 from the apartments alongside the £10,800 commercial rent).
Offers in excess of £1.2 million are invited on an unconditional basis.