The building is situated on a prominent location fronting Hockley Hill, a busy slip road leading onto the A41 southbound into Birmingham City Centre. The Hockley Circus roundabout forms part of the Birmingham Inner Ring Road (A4540). Junction 1 of the M5 is located within 3 miles of the subject property. The A38(M) is located approximately 1 mile away connecting to the M6 and wider national motorway network.
The premises comprise a four storey mid-terraced building of brick-built construction surmounted by a flat roof. Internally the property has two wings which have been converted to provide 48 self-contained rooms arranged over four floors. Each of the rooms are carpeted and benefit from gas fired central heating, light points, plaster & painted walls and a bathroom. There is a large hall on the ground floor which can also be converted into further rooms. The property was previously used for educational/training purposes as well as a crèche facility and contains a fully fitted cafeteria on the ground floor. There is a lift which provides access to all floors.
Energy Performance Certificate:
Details available upon request.
We are advised all main services are connected to include mains gas, water and three phase electricity.
We have been informed planning was granted for a change of use to a 46 bedroom hostel facility (Sui Generis). Planning application no: 2015/06417/PA.
The building also benefits from a premises licence. Premises licence number: 4995/1.
Interested parties should contact Birmingham City Council Planning Department on 0121 303 1115.
Tenure / Price:
The property is available at a rent of £300,000 per annum on a FRI basis, subject to contract. Terms to be agreed. Alternatively, the freehold interest is available at a quoting price of £2M, subject to contract.
The property is currently listed within the 2017 rating listing as having a rateable value of £91,000. Rates payable will be in the region of £43,589.00 per annum. Interested parties are advised to make their own enquiries to Birmingham City Council on 0121 303 5511.
We understand that the property is not elected for VAT.
Each party to be responsible for their own legal costs incurred during this transaction.