236 - 240 Duchess Parade High Street West Bromwich B70 7QG

236 - 240 Duchess Parade
High Street
West Bromwich
B70 7QG

Freehold Retail and Residential Parade Investment

  • Part let to retailers trading as Ladbrokes and Paddy Power
  • Residential let to Smart Move Real Estate Limited - Comprising 25 studio apartments
  • Approximately 1,240 sq m (13,351 sq ft) (including residential)
  • Prominent town centre location close to Kings Square and Queens Square Shopping Centres and tenants including Argos, McDonald’s, New Look and WH Smith
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    53
  • Auction
    22nd October 2015
  • Rent
    £217,350 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Parade Investment

  • Part let to retailers trading as Ladbrokes and Paddy Power
  • Residential let to Smart Move Real Estate Limited - Comprising 25 studio apartments
  • Approximately 1,240 sq m (13,351 sq ft) (including residential)
  • Prominent town centre location close to Kings Square and Queens Square Shopping Centres and tenants including Argos, McDonald’s, New Look and WH Smith
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 53
  • Auction 22nd October 2015
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
5 miles north-west of Birmingham, 8 miles south-east of Wolverhampton
Roads
A41, M5 (Junction 1), M6 (Junction 8)
Rail
Sandwell and Dudley Railway Station
Air
Birmingham International Airport
Situation

The property occupies a prominent position on the south side of the pedestrianised High Street, in close proximity to Queens Square and Kings Square Shopping Centres housing occupiers including Primark, Poundland, Boots the Chemist, Carphone Warehouse, Holland & Barrett and H Samuel. Other nearby retailers include Argos, McDonald’s, New Look and WH Smith.

Tenure

Freehold.

Location
Miles
5 miles north-west of Birmingham, 8 miles south-east of Wolverhampton
Roads
A41, M5 (Junction 1), M6 (Junction 8)
Rail
Sandwell and Dudley Railway Station
Air
Birmingham International Airport
Situation

The property occupies a prominent position on the south side of the pedestrianised High Street, in close proximity to Queens Square and Kings Square Shopping Centres housing occupiers including Primark, Poundland, Boots the Chemist, Carphone Warehouse, Holland & Barrett and H Samuel. Other nearby retailers include Argos, McDonald’s, New Look and WH Smith.

Tenure

Freehold.

Description

The property comprises four retail units arranged on the ground and part first floors, with 25 recently created self-contained residential studios on the ground, part first and second floors, accessed from the rear.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises four retail units arranged on the ground and part first floors, with 25 recently created self-contained residential studios on the ground, part first and second floors, accessed from the rear.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground Retail/Ancillary
214.05 sq m
(2,304 sq ft)
LADBROKES
BETTING &
GAMING LIMITED
(1)
10 years from 4th July 2008 £39,500
Ground
(Rear)/First
Residential
18 Studio Apartments
SMART MOVE
REAL ESTATE
LIMITED
15 years from 23/02/2015 with tenant’s option to break on
22/02/2020 and 22/02/2025
£81,000 (2) 23/02/2020 and
23/02/2025 (2)
Ground Retail/Ancillary
92.07 sq m
(991 sq ft)
POWER LEISURE
BOOKMAKERS
LIMITED (3)
15 years from 18/07/2014 with tenant’s option to break on
17/07/2019 and 17/07/2024
£25,000 18/07/2019 and
18/07/2024
First and
Second Floors
Residential
7 Studio Apartments
SMART MOVE
REAL ESTATE
LIMITED
15 years from 23/08/2015 £33,600 (4) 23/08/2020 and
23/08/2025
Ground/
First
Retail
Tattoo Studio
(Sublet)
150.69 sq m
(1,622 sq ft)
R. KUMAR & R.D.
KUMAR (t/a Nibbles
Newsagents) (5)
20 years from 29/09/2002 £21,500 29/09/2017
Ground Retail
39.02 sq m
(420 sq ft)
H & B SONS
LIMITED (t/a
Sandwell Travel &
Mobile)
5 years from 05/03/2015 with a tenant option to break on 05/09/2016 (6) £16,750 (6)
Total Commercial Area
495.83 sq m
(5,337 sq ft)
    £217,350

(1) For the year ending 31st December 2013, Ladbrokes Betting and Gaming Ltd reported a turnover of £818,578,000, pre-tax profits of £87,693,000 and a total net
worth of £994,620,000. (Source: Experian Group 21/09/2015)
(2)The lease is subject to fixed rental increases to £7,000 p.c.m. (£84,000 p.a.) in 2020 and to £7,500 p.c.m. (£90,000 p.a.) in 2025. The rent stated in the tenancy
schedule is an annualised rent.
(3)For the year ending 31st December 2013, Power Leisure Bookmakers Limited reported a turnover of £814,514,814 and a pre-tax loss of £12,791,679. (Source: Experian Group 29/04/2015)
(4)The tenant pays £2,800 p.c.m. The rent stated in the tenancy schedule is an annualised rent.
(5)We understand that the tenant sublets the first floor to a tattoo studio.
(6) The Vendor holds a rent deposit of £4,187.50. The tenant has the right to renew the lease for a further 5 years.The rent stated in the tenancy schedule is an annualised rent.

Property Documents

  • Site Plan
    Updated Date
    30.09.15
    File Size
    109 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    1,002 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Kapasi & CO 1st Floor, 17 Birmingham Street
Oldbury
West Midlands
B69 4DT
Sabera Kapasi 0121 544 8289sab@kapasilegal.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now