2 days Ago
The mixed-use investment property near Lickey Hills brings in annual rents of more than £36,000 is appearing in Bond Wolfe’s next auction. 4/4a and 5/5a Hillside Court, at 498 Lickey Road in Cofton Hackett , will have a guide price of more than £375,000 in the livestreamed auction on Thursday (March 27). Ian Tudor, commercial auction director at Bond Wolfe, said that the property included a double retail unit let to a health and beauty salon, and two self-contained duplex apartments.
Mr Tudor said: "This modern property was constructed approximately 17 years ago, with two inter-connected retail units on the ground floor fitted out to a high standard. "This extends to approximately 833 sq ft and is occupied by Lunatips Nails Ltd, a well-established health and beauty salon, with a main retail area, three treatment rooms, a shower room, rear kitchen area and toilet. "On the upper floors are two purpose built and modern self-contained duplex apartments, each with a hall entrance, stairs to a landing, lounge and kitchen on the first floor, and two double bedrooms and a bathroom on the second floor.
"The properties are well presented throughout with gas central heating, double glazing and a sprinkler system, plus shared car parking to the rear. The property is in a prominent position fronting the western side of the B4120 Lickey Road, near to its junction with Barnt Green Road, at the foot of the Lickey Hills Country Park, close to the affluent village of Barnt Green. "The parade has several other retailer and Cofton Park Manor Care Home, and this is considered to be an excellent location for the property’s existing use.
" 4/4a and 5/5a Hillside Court brings in total rents of £36,150 and is freehold subject to the following tenancies. Units 4 and 5 are let to Lunatips Nails Ltd on a three-year lease until June 2027 at a current rent of £18,750 per annum, with the tenant in place for around eight years. Flats 4a and 5a are both let on assured shorthold tenancies for £8,340 and £9,060 per annum respectively with the tenant at 4a in place for around nine years.
The mixed-use investment property will be among 176 lots appearing in Bond Wolfe’s next auction, which is due to start at 8.30am on Thursday (March 27). The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more information and to register to bid visit www.bondwolfe.com/auctions/properities/, email auctions@bondwolfe.
com or call 0121 312 1212 or 01902 928 510..
