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Selly Oak, Birmingham B29 Mixed use for sale
Selly Oak, Birmingham B29
£1,100,000
Selly Oak, Birmingham B29
£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 offers a solid income stream with significant growth potential. The property consists of two commercial units on the ground floor, currently generating a combined income of £22,020 per year, and seven self-contained flats on the upper floors, which produce a combined income of £66,000 per year. The flats are decorated to a high standard and feature a communal area with a pool table, TV lounge, and gym. The property has a highly sought-after location, with high foot traffic and proximity to the University of Birmingham, Queen Elizabeth Hospital, and excellent public transport links. With its mixed-use nature and prime location, the property offers a rare and valuable asset in the current market, with potential for future development and significant rental growth.