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Property for sale: High Street, 166,167,168,169, Flats 1-7, Eley Ct, Halesowen St, Rowley Regis, B65


Reference: 37196_MSQ210180

Summary

For Sale - An investment opportunity to acquire a mixed-use development of retail shops with residential accommodation above fronting both High Street and Halesowen Street in Blackheath centre. Consisting of 8 shops, 2 studio apartments, 5 maisonettes and 3 flats at a total rent of £133,940.00.

Description

For Sale - An investment opportunity to acquire a mixed-use development of retail shops with residential accommodation above fronting both High Street and Halesowen Street in Blackheath centre. Consisting of 8 shops, 2 studio apartments, 5 maisonettes and 3 flats at a total rent of £133,940.00.

PROPERTY DESCRIPTION
ACCOMMODATION The accommodation briefly comprises:

RETAIL UNITS
NO. 4 HIGH STREET - Ground and first floor lock up shop
GROUND FLOOR (Approx. dimensions taken from architect’s plan)
RETAIL AREA (FRONT): 3.72m x 5.25m (max) plus 1.61m x 0.8m
REAR ROOM (REAR): 1.58m x 3.28m
Hallway leading to:
KITCHEN
SEPARATE W.C
Staircase to:FIRST FLOOR FRONT ROOM: 4.49m (max) x 3.95m
REAR ROOM: 4.49m (max) x 2.71m


NO. 5 HIGH STREET – Ground floor lock-up shop (craft and fancy goods)
RETAIL AREA: Frontage: 4.73m max. (3.83m min. width) x 7.22m plus bay
With display window and central entrance door, sink unit to the rear bay. WASHROOM: with w.c. and wash hand basin.


NO. 6 HIGH STREET – Ground floor lock-up shop (barbers)
RETAIL SHOP AREA: (Front): 3.45m x 7.35m
SEPARATE W.C. and wash hand basin.


NO. 6A HIGH STREET – Ground floor lock-up shop (butchers)
RETAIL AREA: 5.50m x 7.49m
STOCK ROOM (INCLUDING COLD STORE): 5.33m x 8.65m (min) 12.62 (max)
SEPARATE W.C AND WASHROOM


NO. 166 HALESOWEN STREET (nail bar)
RETAIL SHOP AREA: (Front): 4.47m wide x 9.06m
KITCHENETTE/LOBBY: 3.36m x 1.59m
Base unit with sink.
SEPARATE W.C.


NO. 167 HALESOWEN STREET (micro bar)
RETAIL SHOP AREA: 4.02m min. (4.06m max.) x 9.30m KITCHENETTE/LOBBY: 3.00m x 1.57m
Base unit with sink.
SEPARATE W.C.


NO. 168 HALESOWEN STREET (coffee house)
RETAIL SHOP AREA: (Front): 4.29m x 9.18m KITCHENETTE/LOBBY: 3.09m x 1.68m
Base unit with sink.
SEPARATE W.C.


NO. 169 HALESOWEN STREET (hairdressers)
RETAIL SHOP AREA: (Front): 3.63m max. width x 7.77m depth
SEPARATE W.C.


RESIDENTIAL FLATS

FLATS 1 – 5 (Maisonettes)

ALL APPROACHED VIA AN EXTERNAL STAIRCASE WITH MAIN FRONT DOORS AT FIRST FLOOR LEVEL
KITCHEN, LIVNG/DINING ROOM, W.C. AND STORE
STAIRS TO FIRST FLOOR
BEDROOM, SHOWER ROOM AND STORE.


FLAT 5A (FIRST FLOOR)
LIVING/DINING/KITCHEN, BEDROOM WITH ENSUITE SHOWER ROOM

FLAT 6B (FIRST FLOOR)
LIVING/DINING/KITCHEN, BEDROOM & BATHROOM

FLAT 6C (SECOND FLOOR)
KITCHEN/DINING/LIVING, BEDROOM, BATHROOM & STUDY

FLAT 6 (FIRST FLOOR – STUDIO APARTMENT)
STUDIO FLAT WITH LARGE OPEN-PLAN LIVING SPACE, KITCHEN, WALK-IN-WARDROBE AND SHOWER ROOM.

FLAT 7 (FIRST FLOOR – STUDIO APARTMENT)
STUDIO FLAT WITH LARGE OPEN-PLAN LIVING SPACE, KITCHEN, WALK-IN-WARDROBE AND SHOWER ROOM.

OUTSIDE

SHARED COURTYARD PROVIDING ACCESS FROM HIGH STREET AND HALESOWEN STREET INCLUDING BIN STORAGE AREA, METER CUPBOARD AND STAIRCASE TO RESIDENTIAL ACCOMMODATION.

TENURE We understand the property is held freehold.

All retails shops are let on an internal repairing and insuring basis with the exception of No. 4 which is let on an FRI basis and subject to a service charge payment.

No. 4 - £10,250 pa – 10-years from 1st January 2018.
No. 5 – £7950 pa – 3 years from 12th April 2021. New tenancy currently being arranged with the proposed rent being £8950 pa.
No. 6 - £8000 pa – 6-years from 9th November 2016.
No. 6A – currently used as the owner’s butchers’ shop. A lease will be granted to the occupier once a sale is agreed at a rent of £16,000 per annum for a term of 15 years with five yearly rent reviews and 5 yearly break clauses.
No. 166 - £9,500 pa – 6-years from 19th July 2021.
No. 167 – £9,500 pa –3 years from 9th April 2021.
No. 168 – £9,500 pa - 6-years from 27th August 2021.
No. 169 – £6,960 pa - 3-years from 27th August 2021.

Total Annual Income - £77,660.00 (current) £78,660.00 (proposed).

All residential flats are let on assured shorthold tenancies.

Flat 1 - £5940 pa
Flat 2 - £6300 pa
Flat 3 - £5940 pa
Flat 4 - £5940 pa
Flat 5 - £5940 pa
Flat 5A - £5580 pa
Flat 6 - £5100 pa
Flat 6B - £5100 pa
Flat 6C – £5340 pa
Flat 7 - £5100 pa

Total Annual Income - £56,280.00

SERVICE CHARGE

A service charge is levied in respect of communal waste disposal, cleaning of the common yard, CCTV surveillance and building insurance.

As soon as practicable after each Accounting Date, the landlord will prepare an account showing the Service Cost for that Financial Year and containing a fair summary of expenditure and will send a copy of the account to the tenant.

Copy of the most recent service charge budget can be provided upon request.

SERVICES
No. 4 – Mains electric and water.
No. 5 – Mains electric and water.
No. 6 - Mains electric and water.
No. 6A - Mains electric and water.
No. 166 - Mains electric and water.
No. 167 - Mains electric and water.
No. 168 - Mains electric and water.
No. 169 - Mains electric and water.

Flat 1 Eley Court - Mains electric, gas and water.
Flat 2 Eley Court - Mains electric, gas and water.
Flat 3 Eley Court - Mains electric, gas and water.
Flat 4 Eley Court - Mains electric, gas and water.
Flat 5 Eley Court - Mains electric, gas and water.
Flat 6 Eley Court - Mains electric and water.
Flat 7 Eley Court - Mains electric and water.
Flat 5A - Mains electric and water.
Flat 6B - Mains electric and water.
Flat 6C - Mains electric and water.

The Agents have not tested any apparatus equipment, fixtures, fittings or services and cannot verify they are in working order or fit for their purpose. The buyer is advised to obtain verification from their solicitor or surveyor.

RETAIL SHOP RATING ASSESSMENT

No. 4 – £5400 (1st April 2017)
No. 5 – £4700 (1st January 2020)
No. 6 - £4600 (1st April 2017)
No. 6A - £10,750 (1st April 2017)
No. 166 - £3850 (4th October 2017)
No. 167 - £4250 (9th August 2018)
No. 168 - £3850 (1st April 2017)
No. 169 - £3850 (13th November 2017)

RESIDENTIAL COUNCIL TAX BAND

Flat 1 - A
Flat 2 - A
Flat 3 - A
Flat 4 - A
Flat 5 - A
Flat 5A - A
Flat 6 - A
Flat 6B - A
Flat 6C - A
Flat 7 - A

Where provided the Agent has made an online enquiry with the Valuation Office website and this information should be verified by interested parties making their own enquires.

ENERGY PERFORMANCE

No. 4 – E (109) – Valid until 19 April 2031
No. 5 – E (101) – Valid until 28 May 2028
No. 6 – E (118) – Valid until 29 March 2026
No. 6A – D (83) – Valid until 19 April 2031
No. 166 – C (60) – Valid until 11 February 2026
No. 167 – C (61) – Valid until 11 February 2026
No. 168 – C (65) – Valid until 11 February 2026
No. 169 – C (62) – Valid until 11 February 2026

Flat 1 – B (82) – Valid until 1 March 2026
Flat 2 – B (85) - Valid until 1 March 2026
Flat 3 – B (85) – Valid until 1 March 2026
Flat 4 – B (85) – Valid until 1 March 2026
Flat 5 – B (82) – Valid until 1 March 2026
Flat 5A – C (70) – Valid until 12 March 2030
Flat 6 – C (79) – Valid until 1 March 2026
Flat 6B – E (46) – Valid until 11 December 2028
Flat 6C – E (49) – Valid until 5 February 2029
Flat 7 – C (79) – Valid until 1 March 2026

Copies of Energy Performance Certificates available upon request.

FIXTURES AND FITTINGS
All residential flats include fitted kitchens with oven, hob and extractor hood.

VAT
All figures quoted are exclusive of VAT where applicable.

MONEY LAUNDERING REGULATIONS:
In order to comply with Money Laundering Regulations, all prospective purchasers are required to provide the following - 1. Satisfactory photographic identification. 2. Proof of address/residency. 3. Verification of the source of purchase funds including bank statements for deposits in order to purchase and copy of mortgage agreement in principle from the appropriate lender. In the absence of being able to provide appropriate physical copies of the above, Scriven & Co reserves the right to obtain electronic verification of identity. VIEWING Strictly by prior appointment through Agents Scriven & Co. Commercial on 0121 422 4011.

NOTE:

Information was correct as at the 22nd March 2022. This is subject to change should tenants vacate or tenancies be renewed.
The landlord is currently negotiating with the tenant of 4 High Street with a view to agreeing a separate sale of this property.
If the proposed sale proceeds to completion these details will be amended accordingly.

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Reference: 37196_MSQ210180

Contact Agent

Scriven & Co
Tel: 0121 422 4011