Investors are expected to target a mixed-use property in Birmingham when it comes up in Bond Wolfe’s July auction.
The property in Stechford includes two shops and four large flats, and has a guide price of £550,000.
It currently generates more than £60,000 per annum in rental income.
Ian Tudor, commercial auction director at Bond Wolfe, says: “This attractive investment property comprises a three-storey detached building in an established local shopping parade.
“There are two retail units on the ground floor, with four self-contained three-bedroomed duplex flats above. Each has a lounge, kitchen and bathroom and benefits from gas central heating.
“To the rear is a surfaced and gated car park and a detached garage block divided internally to provide five secure storage bays, with a mezzanine.”
The property occupies a prominent position within a shopping parade, standing behind a service road with parking and fronting the busy A4040 near its junction with Manor Road.
Stechford Leisure Centre, Stechford Railway Station, Heartlands Hospital and Stechford Retail Park are all close by.
The sale of the freehold is subject to the existing tenancies which generate a total of £60,220 per annum.
Both retail units are let to a single tenant holding over a passing rent of £25,000 per annum.
The storage bays at the rear are included in that lease, with the four flats are each let on assured shorthold tenancies
The property is among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday 10 July.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/
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