Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Wesleyan Assurance Society
Property Information
Location
Miles
5 miles north-east of Birmingham City Centre
Roads
A38, A452, M6
Rail
Erdington Railway Station
Air
Birmingham City Airport
Situation
Erdington is one of Birmingham’s residential and retail suburbs located some 2 miles north of the M6 and 5 miles north-east of Birmingham City Centre. The property is situated in a prominent position on High Street near to its junction with Church Road and close to the Central Square Shopping Centre. Nearby occupiers include New Look, Holland & Barrett, Iceland and Nationwide.
Tenure
Long Leasehold. Held for a term of 125 years from 25th December 1983 at a current rent reserved of £6,100 per annum exclusive. The rent is reviewed every 5 years to 10% of Rack Rental Value. The next rent review is on 25th December 2018.
Location
Miles
5 miles north-east of Birmingham City Centre
Roads
A38, A452, M6
Rail
Erdington Railway Station
Air
Birmingham City Airport
Situation
Erdington is one of Birmingham’s residential and retail suburbs located some 2 miles north of the M6 and 5 miles north-east of Birmingham City Centre. The property is situated in a prominent position on High Street near to its junction with Church Road and close to the Central Square Shopping Centre. Nearby occupiers include New Look, Holland & Barrett, Iceland and Nationwide.
Tenure
Long Leasehold. Held for a term of 125 years from 25th December 1983 at a current rent reserved of £6,100 per annum exclusive. The rent is reviewed every 5 years to 10% of Rack Rental Value. The next rent review is on 25th December 2018.
Description
The property comprises a double fronted ground floor accommodation unit with ancillary accommodation on the first floor. The property benefits from a service road to the side and rear car parking for approximately 16 cars.
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 a double fronted ground floor accommodation unit with ancillary accommodation on the first floor. The property benefits from a service road to the side and rear car parking for approximately 16 cars.
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
Reversion
Ground First
Retail/Ancillary Ancillary
280.80 sq m 68.30 sq m
(3,023 sq ft) (735 sq ft)
KRUIDVAT REAL ESTATE UK LIMITED (guaranteed by Superdrug Stores PLC) (1)
10 years from 17/06/2010 on a full repairing and insuring lease (2)
£50,000
16/06/2020
Totals
349.10 sq m
(3,758 sq ft)
£50,000
(1) Kruidvat Real Estate UK Limited is a subsidiary of Hutchinson Whampoa Limited. With global services in Telecommunications, Infrastructure and Energy and Retail, Hutchinson Whampoa Limited owns many large brands such as Superdrug Stores PLC. (2)The tenant occupies the property by virtue of a lease for a term of 5 years from 17th June 2010 until 16th June 2015 and a reversionary lease for a term of 5 years from 17th June 2015 until 16th June 2020.