Sold in Birmingham, B12
Haden Works, Haden Street/Upper Balsall Heath Road, Birmingham, West Midlands
A secure and well established development being sold as a going concern with established tenants - offering a healthy yield with the potential for further developments/changes,including start ups units.
An exciting opportunity to acquire a secure and well established going concern, with a mixture of tenants, including long standing and a recent business start up. This property is located just over a mile south of Birmingham city centre in a predominantly commercial and industrial area.
The property is located within a few hundred metres of Belgrave Middleway (A41) which forms part of Birmingham’s middle Ring Road system providing radial access around the city. The national motorway network is accessible at junction 6 (Spaghetti Junction) of the M6 motorway approximately three miles to the north
The property occupies a prominent corner site bounded by Haden Street, Arter Road and Upper Balsall Heath Road.
The property comprises industrial buildings probably constructed during the 1960’s that have been converted to form five separate workshop/ warehouse buildings and an open storage yard.
The buildings appear of reinforced concrete portal frame construction with a variety of wall and roof cladding materials. We are informed by the vendor the entire site is currently let and income producing:
Unit 1 282.4 m2 (3040 ft2)
Unit 2 163 m2 (1755 ft2)
Unit 3 226.2 m2 (2435 ft2)
Unit 4 149.8 m2 (1612 ft2)
Unit 5 147.1 m2 (1583 ft2)
Yard 217.4 m2 (2340 ft2)
Total Gross Internal Area
968.5 m2 (10,425 ft2)
The entire site is held leasehold for a term of 99 years from the 25th of March 1997 at a current annual ground rent £8225.
Please see legal pack for further details and verification of individual tenancies.
The entire investment currently produces a gross rental income of £42000 per annum.
The vat exemption in respect of the property has not been waived.
Accordingly the sale proceeds should not attract VAT.
Potential : Depending on appropriate planning permission there is a potential to create smaller start up units within the existing space.
Inquiry Level: On average 1 call a week from basic banner on the side of building.