FOR SALE RETAIL/RESIDENTIAL DEVELOPMENT 44-47 Church Street, Tamworth B79 7DE GUIDE PRICE 750,000 Prime Central Town Location Ground Floor Retail/First Floor Residential Current Rental Income over 79,000 Per Annum Planning Permission for Conversion of 3 more Flats Further Potential Income up to 20,000 Per Annum Please contact the Atherstone Office on 01827 721380 for further details or to arrange a viewing. Websites: www.howkinsandharrison.co.uk; www.estatesgazette.com/propertylink; www.novaloca.com; www.rightmove.co.uk
An excellent investment opportunity in the centre of Tamworth town centre. Current income over 79,000 per annum with a further 20,000 per annum potential income. LOCATION Located at a central prime retail location at Church Street in Tamworth just to the rear of Market Street and in a pedestrianised zone. This is in a busy area of town with excellent pedestrian footfall and plenty of public parking nearby. ACCOMMODATION The property comprises a retail unit with residential development potential at first floor level. The property is located in the middle of a parade of shops in a popular Tamworth market area. The ground floor retail area is currently being utilised as an indoor small market with various pitches let to individual retailers. Each retailer is in occupation under a Licence and at present the property produces 1,400 per week income. The retail area could be split into 3 individual shops and the overall dimensions of the shop retail area is 15.89m width x 13.32m depth. There are two additional storage areas, one which could be converted into more retail space. Retail area: 15.89m x 13.32m - 211.7 sq m (2,278 sq ft) Store: 3.0m x 14.8m - 14.4 sq m (155 sq ft) Store Area Two: 4.8m x 4.8m - 23 sq m (248 sq ft) Total Ground Floor NIA: 249.1 sq m (2681 sq ft) At first floor level there is currently one 2 bedroom flat producing an income of 550 pcm and there is planning permission in place to convert the rest of the first floor into two 1 bedroom flats and a bedsit which has just been granted. Please contact agent for further information. RENTAL INCOME The property currently produces income from the retail area and the two bed flat. The planning permission for 3 further dwellings could produce a further income in the region of 20,100 Area Income Annual income Retail area 1,400 per week 72,800 Flat 550 per month 6,600 Potential income from new flats Between 525 and 600 each pcm 20,100 Total 99,500 PRICE Guide price 750,000 PLANNING The property is being sold subject to planning permission 0183/2014 Website Link: http://planning.tamworth.gov.uk/northgate/planningexplo rer/generalsearch.aspx for the conversion of the first floor area into 2 one bed flats and 1 bedsit. Further details can be found on the Tamworth Borough Council website and through the selling agents. The property falls within Tamworth Borough Council and further enquiries can be made to the planning department on 01827 709709. TENURE The property is available for sale freehold. SERVICES We are advised that mains services are connected to the property including mains water, drainage, electricity and gas. We would advise interested parties to undertake their own enquiries as to the adequacy and availability of these services, which have not been tested or verified by Howkins & Harrison LLP. OUTGOINGS The property is subject to paying Business Rates and Council Tax. The current Rateable Value is 56,500 Please note this includes the first floor area with planning permission. The existing flat has a Council Tax Band A. LEGAL FEES Each party to bear their own legal fees. EPC C(63) VAT Howkins & Harrison LLP stipulate that all prices and rents are stated exclusive of VAT whether or not payable. VIEWING Strictly by appointment with Howkins and Harrison LLP. Please contact the Atherstone office on 01827 721380. IMPORTANT NOTICE 1. These particulars have been prepared in all good faith to give a fair overall view of the property. If any points are particularly relevant to your interest in the property please ask for further information. 2. Nothing in these particulars shall be deemed to be a statement that the property is in good structural condition or otherwise, nor that any services, appliances, equipment or facilities are in good working order. Purchasers should satisfy themselves on such matters prior to purchase. 3. The photograph(s) depicts only certain parts of the property. It should not be assumed that any contents, furnishings/furniture etc photographed are included in the sale. It should not be assumed that the property remains as displayed in the photograph(s). No assumptions should be made with regard to parts of the property that have not been photographed. Please ask for further information if required. 4. Any areas, measurements or distances referred to are given as a GUIDE ONLY and are not precise. If such details are fundamental to a purchase, purchasers must rely on their own enquiries or those which can be performed by their appointed advisers.