Staffordshire takeaway and office block set to go under the hammer next month

The two investment properties in Tamworth, Staffordshire are currently bringing in more than £45,000 rent a year between them, according to property agents Bond Wolfe, who have them listed in their December auction.

A freehold, mixed-use investment property at 318 Glascote Road, will have a guide price of £240,000+ while a freehold office investment at 4 Victoria Road also in Tamworth will go up with a guide price of £230,000+.

Ian Tudor, commercial auction director at Bond Wolfe, said that the Glascote Road property included a hot food takeaway and two self-contained flats, plus commercial lockers, together producing rents of £23,100 a year.

“This property occupies a prominent frontage on the Glascote Road, opposite its junction with Argyle Street," he said. 

“This is a popular and well-established predominantly residential neighbourhood, about one and a half miles east of Tamworth town centre.

“The property hosts the Big Harry takeaway business downstairs, serving everything from pizza and burgers to fried chicken and balti dishes, and paying £8,400 rent a year on a 15-year lease until September 2038.

“The two self-contained flats upstairs each have a lounge, kitchen, bathroom and bedroom, and are both on assured shorthold tenancies paying £7,200 and £6,600 a year respectively.

“In addition, standing on the forecourt outside the property are parcel collection lockers let to InPost Lockers, at a current rent of £900 a year.”

Mr Tudor said the lot at Victoria Road was a modern office let to a local firm of solicitors for £22,500 rent a year.

He said: “This two-storey, mid-terraced office building has recently undergone a comprehensive refurbishment programme to provide modern, well-presented offices.

“On the ground floor is an entrance and reception area, meeting room, office, general office, kitchenette and toilet, with a landing, four further offices, a kitchenette, stationery store and toilet on the first floot.

“The property is rented on a full repairing and insuring lease to David J Foster & Co, a well-established local solicitors.

“It occupies a prominent position fronting Victoria Road, close to its junction with Bolebridge Street and Colehill in the town centre, with a mix of professional offices and retailers close by.”

The investment properties in Tamworth will be among 183 lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Wednesday, December 11.

The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.