62 - 65 Kings Square High Street West Bromwich West Midlands B70 7NW

62 - 65 Kings Square
High Street
West Bromwich
West Midlands
B70 7NW

Prime Retail Parade Investment

  • Unbroken Parade Comprising Four Shops
  • Approximately 7,766 sq ft
  • Fronting Kings Square and opposite Queens Square Shopping Centre
  • Prime Pedestrianised Town Centre Location
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    38
  • Auction
    30th March 2017
  • Rent
    £124,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,000,000
  • Sector
    High Street Retail
  • Auction Venue
    The 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

Prime Retail Parade Investment

  • Unbroken Parade Comprising Four Shops
  • Approximately 7,766 sq ft
  • Fronting Kings Square and opposite Queens Square Shopping Centre
  • Prime Pedestrianised Town Centre Location
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 38
  • Auction 30th March 2017
  • Rent
  • Status Sold
  • Price £1,000,000
  • Sector
    High Street Retail
  • Auction Venue
    The 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 prime 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, Iceland, Holland & Barrett and H Samuel. Other nearby
retailers include Argos, McDonald’s, New Look and WHSmith.

Tenure

Long Leasehold. Held for a term of 150 years from 27/11/1995 from The Borough Council of Sandwell at a peppercorn rent.

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 prime 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, Iceland, Holland & Barrett and H Samuel. Other nearby
retailers include Argos, McDonald’s, New Look and WHSmith.

Tenure

Long Leasehold. Held for a term of 150 years from 27/11/1995 from The Borough Council of Sandwell at a peppercorn rent.

Description

The property comprises an unbroken parade of four ground floor shops with ancillary accommodation on the first floor.

VAT

VAT is 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 an unbroken parade of four ground floor shops with ancillary accommodation on the first floor.

VAT

VAT is 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

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
62
Ground
First
Retail
Ancillary
85.00 sq m 76.55 sq m
(915 sq ft) (824 sq ft)
KENMARE ESTATES LIMITED (1) WITH A
GUARANTEE FROM THE
MIDCOUNTIES
CO-OPERATIVE LIMITED (2)
15 years from
16/04/2007
£42,500
16/04/2017
(15/04/2022)
63
Ground
First
Retail
Ancillary
95.41 sq m 93.18 sq m
(1,027 sq ft) (1,003 sq ft)
RKAS LIMITED t/a Oggy Oggy Pasty (3)
10 years from 01/02/2016 (4)
£25,000
01/02/2021
(31/01/2026)
64
Ground
First
Retail
Ancillary
98.10 sq m 82.68 sq m
(1,056 sq ft) (890 sq ft)
HARVEY & THOMPSON LIMITED (5)
t/a H & T Money
10 years from
8/04/2011 (6)
£27,000
(07/04/2021)
65
Ground
First
Retail
Ancillary
96.43 sq m 94.11 sq m
(1,038 sq ft) (1,013 sq ft)
WALTER SMITH FINE FOODS LIMITED
t/a Walter Smith Butchers (7)
5 years from
22/11/2013
£30,000
(21/11/2018)
Totals  
721.46 sq m
(7,766 sq ft)
    £124,500
 

(1) The property is currently sublet to a tenant trading as Cash Converters.
(2) For the year ending 24th January 2015, The Midcounties Co-operative Limited reported a turnover of £910,000,000, pre-tax profits of £9,181,000 and a total net worth of £100,083,000 (Source: Experian Group 13/02/2017).
(3) Oggy Oggy Pasty Company trade from about 15 shops (Source: ww.oggyoggyfranchise.com 13/02/2017).
(4) The lease provides for a tenant option to determine 1st February 2019 subject to six months’ prior written notice.
(5) For the year ending 31st December 2015, Harvey & Thompson Limited reported a turnover of £89,244,000, pre-tax profits of £7,636,000 and a total net worth of £71,545,000 (Source: Experian Group 09/02/2017).
(6) The lease provides for a tenant option to determine 8th April 2018 subject to six months’ prior written notice.
(7) Walter Smith have been providing quality meat and quality service since 1885. They currently operate from 16 stores located in towns including Stratford-upon-Avon, Huntingdon and Tamworth (Source: www.waltersmith.co.uk 09/02/2017).
For the year ending 31st December 2015, Walter Smith Fine Foods Limited reported a turnover of £11,584,858, a pre-tax profit of £51,464, total current assets of £1,522,197 and a total net worth of £194,756 (Source: Experian Group 13/02/2017).

Property Documents

  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    29.10.19
    File Size
    2 MB
    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
BSG Solicitors
Masood Haider 020 8343 4411masood@bsgsolicitors.com

Useful Links

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

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