59/69 Rowood Drive, Solihull, West Midlands, B92 9NG
- For Sale
- Investment, Retail
- 620 Sq Ft
- £75,000
An opportunity to acquire a mixed-use long leasehold investment comprising a ground floor commercial unit and residential flat above, situated within an established neighbourhood parade in the Damson area of Solihull.
The property currently produces a total income of £7,100 per annum, comprising £7,000 per annum from the ground floor commercial tenant and £100 per annum from the residential accommodation. A head ground rent of £180 per annum is payable, providing a net income of approximately £6,920 per annum.
The commercial premises is let on a lease expiring 21 October 2035, incorporating index-linked rental reviews. The property offers investors an attractive income-producing asset within a well-established residential location with convenient access to Solihull town centre, Birmingham Airport, the NEC and the regional motorway network.
The property occupies a prominent position on Rowood Drive within the established Damson Wood area of Solihull, approximately 2 miles north of Solihull town centre and 6 miles south-east of Birmingham city centre.
Rowood Drive forms part of a local neighbourhood shopping parade serving the surrounding residential catchment and accommodates a variety of independent retailers, service providers and food outlets. The location benefits from good road communications, with convenient access to the A45 Coventry Road, providing direct links to Birmingham City Centre, Birmingham Airport, Birmingham Business Park, the NEC, and Junction 6 of the M42 motorway.
The surrounding area is predominantly residential in nature, comprising a mixture of housing and local amenities, with regular public transport services operating nearby. Olton Railway Station is situated approximately 2 miles to the west, providing regular rail services to Birmingham Moor Street, Birmingham Snow Hill, Stratford-upon-Avon and London connections via Birmingham International.
* Guide Price: £75,000
* Gross Income: £7,100 pa
* Net Income: £6,920 pa
* Commercial Lease Expiry: 21 October 2035
* 99-year lease from 25 March 1983
* Ground Rent Payable: £180 pa
* Increases to £270 per annum from 25 March 2049
* Ground floor commercial unit let at £7,000 per annum.
* Commercial lease expiry 21 October 2035.
* Rent subject to index-linked review provisions.
* Residential element producing £100 per annum.
Long leasehold interest for sale. A ground rent of £180 per annum is payable to the freeholder. Further lease information is available upon request.
Strictly by prior appointment through the sole selling agents.