192 Streetly Road, Erdington, Birmingham

Description

A vacant freehold hot food takeaway/retail unit with living accommodation standing within an established neighbourhood shopping district. The property comprises a two storey mid terrace retail unit with living accommodation on the first floor, which can be accessed either internally or self contained having the benefit of a separate front door entrance. The ground floor is configured to provide a main retail area with trade counter and was formerly operating as a long established fish and chip shop, there is a spacious preparation area immediately to the rear, a large lounge/kitchen area, covered outside storage area and staff WC. On the first floor there are two bedrooms, lounge with a small kitchenette off, bathroom with shower cubicle and WC.

Accommodation

Ground floor: main retail area with trade counter, spacious preparation area, large lounge/kitchen area, covered outside storage area and staff WC. First floor: two bedrooms, lounge with a small kitchenette off, bathroom with shower cubicle and WC.

Location

The property occupies a prominent position within a parade of similar properties, fronting the western side of Streetly Road near its junction with Short Heath Road. The property has served as a well established neighbourhood fish and chip shop and is considered to occupy an excellent immediate catchment area as a hot food takeaway, but is also considered suitable for alternative uses subject to obtaining any necessary planning permission.

Tenure / Property Information

Investment Analysis

The evidence does not support a reliable GDV or market value estimate. The only recent comparable is 194 Streetly Road at £250,000, but it is described as detached and is not sufficiently comparable to this vacant mixed-use mid-terrace takeaway with living accommodation. The remaining terraced comparables are from 2003–2008 and range from £45,000 to £185,000, making them unsuitable for a current valuation without further adjustment evidence. The £220,000+ guide is not treated as market value evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack, confirming permitted takeaway and residential use, obtaining a building survey and establishing separate commercial and residential rental or resale evidence.

Works Required

No specific defects or required refurbishment are evidenced. Before bidding, inspect the retail, preparation, storage and residential areas; verify the condition of the gas central heating, bathroom, kitchenettes, trade-counter/preparation facilities and electrical installations; and confirm any statutory requirements for continued takeaway use or an alternative use. Any works allowance remains unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence. Purchase cost would start at the £220,000+ guide, with a known £2,700 administration charge, but works, rent, GDV and refinance value are unsupported. The vacant mixed-use configuration and planning position would require legal, surveying, valuation and lender confirmation before proceeding.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are provided. The property has vacant possession and mixed retail/residential accommodation, so the commercial and living accommodation income would need to be assessed separately. The £2,700 administration charge is known, while any additional legal-pack costs, taxes and refurbishment costs remain unquantified.

Flip Analysis

A flip surplus cannot be calculated. The recent £250,000 sale on the same road is for a detached property, while the older terraced evidence is too dated and varied to establish a supported resale value for this subject property. Refurbishment, selling costs and any planning-related value impact are also unquantified.

Investor Risks & Due Diligence

• Vacant possession means there is no passing income.

• No sufficiently specific rental evidence is provided, so income and yield cannot be established.

• Alternative uses are subject to obtaining any necessary planning permission.

• The flat EPC is not supplied; only the retail unit EPC rating of D is stated.

• Additional completion costs may be listed in the Special Conditions and are not quantified.

• The available recent comparable is detached and therefore not directly comparable to this mid-terrace mixed-use property.

• The property’s condition and the cost of bringing the retail and living accommodation into use are not evidenced.

Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack, confirming permitted takeaway and residential use, obtaining a building survey and establishing separate commercial and residential rental or resale evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, guide and administration charge are provided, but there is no reliable current comparable set, no rent evidence, no condition survey, no works budget and no supported GDV or planning assessment.