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    Key features

    • Investment let at £103,368 pa (10.88% on Guide Price)
    • Substantial building comprising 38 units
    • Let on multiple tenancies totaling 3,158.67 sq m (34,000 sq ft) on an area of on 0.53 acres
    • Development/Change of Use Potential (subject to necessary consents)

    Description

    The property comprises a substantial building which has been converted to provide 38 commercial units arranged around a central courtyard. Access into the courtyard is off Nursery Road with the rear building being four storeys in height and two buildings of double height and single storey to the front elevation. 

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been supplied by the vendor and the property has not been inspected by Savills.


    38 commercial units with a total area of approximately 3,158.67 sq m (34,000 sq ft) on an area of on 0.53 acres (0.21 Hectares).


    Tenancy

    Comprises 38 units with a total rent of £103,368 pa. Please see legal pack for a full breakdown of rents.


    All tenants are on simple licence agreements and are holding over.


    Planning

    The property may benefit from change of use/development potential, subject to necessary consents. For further planning enquiries please contact Birmingham City Council (https://www.birmingham.gov.uk).

    Rent

    £103,368 pa
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property occupies a prominent position along Nursery Road in the Hockley area of Birmingham approximately 1.5 miles from Birmingham City Centre and within close proximity to Hockley Circus. Hockley Circus offers access in and out of Birmingham City Centre via the A41 along with access to the inner ring road via New John Street West. The location also provides convenient access to the national motorway network at J1 of the M5 Motorway some 4 miles to the west and J6 of the M6 located only 5 miles distant via the A38 (M). 

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums