3 Blackberry Lane, Halesowen
Sold STC - £220,000
3 Blackberry Lane Halesowen, B63 4NX 3 Blackberry Lane, Halesowen, B63 4NX
Floor Area (Max)
5,386 SqFt ( 500 SqM )
This premises is situated on Blackberry Lane in Halesowen and is currently occupied by a car garage on the ground floor and a denture clinic on the first floor. The ground floor is accessed via a driveway leading to large workshop with several ancillary rooms including an office and storage space. The first floor is accessed via front entrance to the right hand side of the property, leading to staircase to above.
The current lease for the ground floor dated 26th February 1996 for an original term of 6 years has now expired. The lease is now in holdover and it is understood that the tenant pays rent totalling £12,000 per annum.
The current lease for the first floor dated 30th June 2016 expires on 29th September 2021. The tenant pays rent totalling £5,000 per annum.
At asking price the investment represents a 7.54% net initial yield (after assuming standard purchaser's costs.)
The property is located less than a mile from Halesowen Town Centre, on a densely populated residential estate known locally as 'The Huntlands'. Blackberry Lane is situated off the B4183 Hagley Road, which provides a convenient connection to the A456, linking local cities and towns including Stourbridge (6 miles), Birmingham (9 miles) and Kidderminster (10 miles). Junction 3 of the M5 is 2 miles away.
Ground Floor:- 4,334 sq ft in total
First Floor:- 1,052 sq ft in total
Ground Floor:- Rateable Value - £10,250
First Floor:- Rateable Value - £5,800
(If ground and first floors are occupied by different tenants 100% rate relief should be available via Small Business Rate Relief)
We are instructed to seek offers in the region of £220,000 for the Freehold interest.
Chris Jeffries/Harvey Pearson 01384 374888 firstname.lastname@example.orgemail@example.com
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T: 01384 374888