Four shop premises on a busy Birmingham street with a combined starting price of £220,000 are set to go under the hammer in Bond Wolfe’s July auction.
All four properties on Barnabas Road in Erdington have tenants and generate a total of £47,000 per annum in rental income.
They are expected to attract intense interest from property investors at the livestreamed auction on Thursday July 10.
Gurpreet Bassi, chief executive of Bond Wolfe, says: “Barnabas Road is part of the shopping area at the heart of the Birmingham suburb of Erdington, connecting the High Street to Sutton New Road, so attracts a strong footfall. The tenants at all four freehold retail investment properties have signed new leases in the last couple of years, for 10 or 15 years, so are set to provide a stable income for their new owners.”
9-11 Barnabas Road is listed with a guide price* of £75,000+ in the July auction.
Currently trading as a beauty salon, it comprises a double-fronted retail premises with office and ancillary accommodaton on the first floor, plus WC, storage and kitchen facilities. Roller shutters are fitted.
The property is let for a term of 10 years from 23 July 2024, at a current rent of £15,000 per annum, subject to a break clause on 22 July 2029.
19-21 Barnabas Road is another double-fronted premises and also listed at £75,000+. It has ancillary accommodation on the first floor, above the retail area.
It currently trades as Printerwise and is let for 10 years from 16 August 2023, at a current rental of £15,000 per annum, subject to a break clause on 14 August 2028.
15 Barnabas Road has a guide price of £30,000+. It has first floor ancillary accommodation and currently trades as a Turkish barber.
The property is let for a term of 15 years from 5 July 2023, at a rent of £8,000 per annum.
23 Barnabas Road is listed at £40,000+ and trades as a confectionary store called Candyland. The premises are let for a 10-year term from 17 July 2024 at a rent of £9,000 per annum, subject to a break clause on July 2027.
Bassi continues: “In respect of all four premises, offers in excess of the guide price may be considered prior to the auction sale.”
The Barnabas Road shops will be among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday July 10.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email [email protected] or call or call 0121 312 1212 or 01902 928 510.
