Broad Street & Providence Road, Sidemoor Bromsgrove, B61 8LW

Features

• Mixed Retail & Residential Investment
• Popular residential neighbourhood
• Asset Management potential
• Current Income £38,520pa
• Fully Let
• Freehold

Location

The property is located at the prominent corner of Broad Street and Providence Road which are at the centre of Sidemoor, an established residential neighbourhood on the outskirts of Bromsgrove Town Centre. The property is within easy walking distance of the main retail centre of Bromsgrove and is well served by all modern amenities together with good road, rail and bus communication links.

Description

The property comprises a block of three shops and three residential flats above, sitting behind an ample car park and rear stores & garages. The total site area is 0.27 acres.

The accommodation is arranged as follows:

48 / 50 Broad Street - retail premises with rear store and WC fitted as a launderette. Net floor area 510 sqft

44 / 46 Broad Street - retail premises with WC and store operating as an established hairdressing salon. Net floor area 619 sqft

2 Providence Road - corner retail premises with WC and office let to Age UK. Net floor area 444 sqft.

Flat 4 Providence Road and 46 & 48 Broad Street are two spacious two bedroom flats and one three bed flat.

The property has been well maintained by our client, with an interlinked fire alarm system having been installed in the last six months.

Tenure

The property is held by way of two Freehold titles which are subject to the following tenancies:

48/50 Broad Street - Tenant holding over on commercial lease at rent £5000pa
44/46 Broad Street - Tenant holding over on a commercial lease at rent £6520pa
2 Providence Road - Let to Age UK until July 2026 at a rent of £6520pa. Tenant break July 2023.

The three flats were all let on ASTs, now periodic Tenancies at rents of £465, £580 and £580pcm.

The total Gross Rental Income is £38,520 pa.

Services

All mains services are available.

Purchase Price

£550,000 (no VAT)

Energy Performance Certificate

available on application.

Business Rates & Council Tax

2 Providence Road - £6900
44 Broad Street - £6200
50 Broad Street - £7800
Each of the flats are placed in band A for Council Tax purposes

Legal Fees

Each party to bear their own fees.

Viewing

Strictly by appointment with our reception on 01527 584242