173 - 177 High Street Erdington Birmingham B23 6SY

173 - 177 High Street
Erdington
Birmingham
B23 6SY

Prominent Retail Investment

  • Let to Kruidvat Real Estate UK Limited (guaranteed by Superdrug Stores plc)
  • Prominent double fronted position on High Street
  • Nearby occupiers include New Look, Holland & Barrett and Nationwide
  • Currently Producing £50,000 p.a.x. (Gross) £43,900 p.a.x. (Net)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    46
  • Auction
    9th July 2015
  • Rent
    £50,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £420,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Wesleyan Assurance Society
  • Expand
  • Photos
  • Map

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

Prominent Retail Investment

  • Let to Kruidvat Real Estate UK Limited (guaranteed by Superdrug Stores plc)
  • Prominent double fronted position on High Street
  • Nearby occupiers include New Look, Holland & Barrett and Nationwide
  • Currently Producing £50,000 p.a.x. (Gross) £43,900 p.a.x. (Net)
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 46
  • Auction 9th July 2015
  • Rent
  • Status Sold
  • Price £420,000
  • Sector
    High Street Retail
  • 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.

Property Documents

  • Catalogue Page
    Updated Date
    17.06.15
    File Size
    749 KB
    View PDF
  • Site Plan
    Updated Date
    17.06.15
    File Size
    71 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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Associate Auctioneers
Franck-Steier Price Ltd Victoria House, 3rd Floor, 114 - 116 Colmore Row
Birmingham
B3 3BD
Andrew Price 0121 513 0892andrew.price@fspproperty.co.uk
Seller's Solicitors
Coley & Tilley Solicitors Neville House, 14 Waterloo Street
Birmingham
B2 BUF
Grahame Griffiths +44 (0)121 643 5531gg@coleyandtilley.co.uk

Useful Links

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

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