A fantastic opportunity to acquire this income producing, freehold mixed-use block located in Tamworth Town Centre.
Ground Floor (Commercial)
The ground floor market place is made up of 15 units, let to individual businesses on license agreements. Over 70% of the existing tenants have been in tenancy for over 5 years and occupy multiple units.
First Floor (Residential)
Access via College Lane, the residential aspect is made up of a mixture of one Studio Flat, 2 x One Bedroom Flats and Four- Bedroom HMO- ALL fully occupied.
Recently refurbished, with all flats finished to an extremely high standard. All fitted kitchens include integrated appliances, modern shower rooms, chrome light switches, spotlights to ceiling and wood effect laminate flooring.
Each apartment having its own separate meters and secure video intercom entry system.
FLAT 1: 4-bedroom HMO comprising a communal fully fitted kitchen area and four self- contained bedrooms each with en- suite shower facilities.
FLATS 2 & 3: Located on the first floor. Having entrance hallway, high specification shower room, open plan kitchen lounge space and double bedrooms. Both of the one-bedroom flats have pleasant views overlooking the Church.
FLAT 4: First floor studio apartment having its own private access. Briefly comprising entrance hallway, high specification shower room, open plan kitchen living space.
These flats have always been fully occupied with no void period.
The Investment block is prominently situated within the heart of Tamworth Town Centre.
Positioned opposite the St Edithas Square near to Ankerside and Middle Entry Shopping Centres. Church Street falls within walking distance of all local amenities and only 400 meters Tamworth Railway Station which offers a direct train route to London.
Those looking to travel by car will find useful travel links via the A5 and M42.
Tamworth has been awarded an incredible £21.65 million from the Future High Streets Fund to develop a town centre that meets the needs of 21st century shoppers, residents and businesses.
The exciting proposals include:
• Ambitions to relocate Tamworth College, part of South Staffordshire College, into the heart of the town centre
• Development of new affordable and flexible space for smaller, independent hospitality, leisure and retail businesses • Restoration of heritage features and buildings so they can be brought back into use
• An improved entrance between the town centre and the Castle Grounds
• More affordable office space
• Improvements to Middle Entry
Total current GROSS annual income for the whole property: £11,194 pcm / £134,328 pa
Total current NET annual income for the whole property: £10,416 pcm / £125,000 pa
Current Residential Rental Income: £52,428 PA
Current Commercial Rental Income: £81,900 PA
* Scope to increase rental income. The above figures are based on 3 market place units still vacant.
[FULL RENT SCHEDULES AVAILABLE ON REQUEST]
Mains electricity and water.
This property is held Freehold
Strictly via the vendors agent ONLY.
All measurements are approximate and quoted in metric with imperial equivalents and for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied on. The fixtures, fittings and appliances referred to have not been tested and therefore no guarantee can be given and that they are in working order. Internal photographs are reproduced for general information and it must not be inferred that any item shown is included with the property.
Tenure : Freehold