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Selly Oak, Birmingham B29 7 bed block of apartments for sale
Mixed Use Site, 774-776 Bristol Road
£1,100,000
Mixed Use Site, 774-776 Bristol Road
£1,100,000
Our Summary
- This is a prime mixed-use development for sale, offering a solid income stream with significant growth potential
- Rental PotentialThe current owner is renting the units under market value, and we estimate the potential rental income could exceed £100,000 per year combined all flats and commercial units once rents are brought in line with the market
- Development PotentialThis property offers significant future development opportunities
- Planning potential exists to build additional stories and expand the building to the rear (subject to planning permission)
- There may also be opportunities to acquire additional land at the rear, providing further options for development
- This property offers a fantastic turnkey investment with a strong rental yield and the potential for considerable growth, both through increasing rents and future development
- with potential to increase
- Potential for significant development
Description
This prime mixed-use development for sale offers a solid income stream with significant growth potential. The property features 2 commercial units on the ground floor, currently generating a combined income of £21,020 per year, and 7 self-contained flats on the upper floors, producing a combined income of £66,280 per year. The flats are decorated to a high standard and benefit from a large communal area, pool table, TV lounge, and gym. The current rents are below market value, offering a significant opportunity for rental growth, with an estimated potential rental income of over £100,000 per year once rents are brought in line with the market. The property is located on a busy main road with high foot traffic, opposite a newly regenerated retail park, and is close to the University of Birmingham, Queen Elizabeth Hospital, and excellent public transport links. The property also offers significant future development opportunities, including the potential to build additional stories and expand the building to the rear, subject to planning permission.