Mixed-use property generating £57,500 a year among lots going to auction
A property close to Solihull generating healthy rents from a betting shop, four flats and a telecoms mast is among the lots in Bond Wolfe’s next auction.
The part three-storey, end-terraced property at 1192 Warwick Road in Acocks Green, Birmingham, has a £615,000+ guide price in the next Bond Wolfe auction taking place on Thursday September 11.
Ian Tudor, commercial auction director at Bond Wolfe, said there were total annual rents of £57,500 coming from the mixed-use investment property which has a betting shop on the ground floor.
Mr Tudor said: “This spacious freehold property is in a prominent position within a popular suburban shopping district.
“There is a Coral betting shop on the ground floor, with four well-presented, self-contained flats above, which all have central heating.
“There are four surfaced car parking spaces and an O2 telecom mast fixed to the rear of the building.”
The retail unit is rented to Ladbrokes Betting & Gaming Ltd, trading as Coral, at £11,200 per annum, on a 10-year lease until November 2030, with a rent review in November 2025.
The four flats currently produce £37,800 per annum, while the O2 telecoms mast is let via a 10-year agreement until November 2026 at a current rent of £8,500 per annum.
The property fronts the northern side of the main A41 Warwick Road, at the junction with Woodberry Walk, close to the Acocks Green border with Solihull.
There is a good mix of independent retailers nearby, together with national operators including Aldi and Farm Foods opposite.
Bond Wolfe has been appointed to sell the property with AMT Commercial as joint agents.
It will feature in Bond Wolfe’s next livestreamed auction, starting at 8.30am on Thursday September 11, which will can be watched via the Bond Wolfe website.
Remote bidding can be done by proxy, telephone or internet. For more details go to the Bond Wolfe website or email auctions@bondwolfe.com.
