Let to Imperial Chemical Industries Ltd t/a Dulux Decorator Centre
Prominent Roadside Location 0.5 miles from Birmingham City Centre
Includes car parking
£152,679 p.a.x (gross) £122,679 p.a.x (net)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 71
Auction 30th March 2017
Rent
Status Withdrawn Post
Price
Sector Retail Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
0.5 miles from Birmingham city centre
Roads
A4540, A38(M)
Rail
Birmingham Snow Hill Station
Air
Birmingham International Airport
Situation
The property is prominently situated in a very busy commercial location on the west side of New Town Row, north of the city centre and close to the junction with the A4540 which links directly to the A38(M), approximately 300 metres from the property. Birmingham Snow Hill Station is located some 0.5 miles south of the property. Neighbouring occupiers include Speedy Hire and Floors 2 Go.
Tenure
Long Leasehold. Held for a term of 125 years from January 2013 at an initial rent of £30,000 per annum exclusive. The headlease provides for the rent to increase every 10th year by 2% per annum compounded.
Location
Miles
0.5 miles from Birmingham city centre
Roads
A4540, A38(M)
Rail
Birmingham Snow Hill Station
Air
Birmingham International Airport
Situation
The property is prominently situated in a very busy commercial location on the west side of New Town Row, north of the city centre and close to the junction with the A4540 which links directly to the A38(M), approximately 300 metres from the property. Birmingham Snow Hill Station is located some 0.5 miles south of the property. Neighbouring occupiers include Speedy Hire and Floors 2 Go.
Tenure
Long Leasehold. Held for a term of 125 years from January 2013 at an initial rent of £30,000 per annum exclusive. The headlease provides for the rent to increase every 10th year by 2% per annum compounded.
Description
The property comprises a substantial city centre ground floor trade counter with significant frontage to New Town Row and forms part of a larger building. The property benefits from an undercroft loading bay and customer car parking. The tenant refurbished the unit in 2016.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial city centre ground floor trade counter with significant frontage to New Town Row and forms part of a larger building. The property benefits from an undercroft loading bay and customer car parking. The tenant refurbished the unit in 2016.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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. (gross)
Reversion
Ground
Retail/Ancillary
1,031.97 sq m
(11,108 sq ft)
IMPERIAL CHEMICAL INDUSTRIES LTD (1)
20 years from 21/09/2001
£152,679
20/09/2021
Total
1,031.97 sq m
(11,108 sq ft)
£152,679
(1) For the year ending 31 December 2015, Imperial Chemical Industries Limited reported a turnover of £485,000,000, pre-tax profits of £108,000,000 and a net worth of £4,173,000,000 (Source: Experian Group 03/03/2017). Imperial Chemical Industries Limited are part of Akzo Nobel who are the leading global paints and coatings company and a major producer of specialty chemicals. They employ, approximately 45,000 people in around 80 countries and their portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka (Source: www.akzonobel.com 03/03/2017) .