Two retail units which form part of a larger retail/residential development
Unit 321-323 let until 2032 (subject to options – 2017 break option not exercised)
Nearby occupiers include Greggs, William Hill and a number of local occupiers
Lot 50
Auction 7th December 2017
Rent £18,198 per Annum Exclusive
Status Sold
Price £150,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
4 miles south of Birmingham city centre, 5 miles north-west of Solihull, 15 miles west of Coventry
Roads
A41, A34, A38, M6 (Junction 6), M42 (Junction 5)
Rail
Spring Road Rail (9 mins to Birmingham Snow Hill)
Air
Birmingham International Airport
Situation
Acocks Green is a suburb located approximately 5 miles south-east of Birmingham city centre. The property is situated in a prominent location on Fox Hollies Road (A4040), which provides direct access to the A41 and A34, the main arterial routes from the M42 Motorway to Birmingham City Centre. The property is located within a predominantly residential area, forming part of a local retail parade. Nearby occupiers include Greggs and William Hill, with Spring Road Rail within a short walk providing direct services to Birmingham Snow Hill in 9 minutes.
Tenure
Virtual Freehold. Held from Larch Associates Limited on two leasehold titles for a term of 999 years from 01/01/2006 until 31/12/3004 at a rent of £100 p.a. each.
Location
Miles
4 miles south of Birmingham city centre, 5 miles north-west of Solihull, 15 miles west of Coventry
Roads
A41, A34, A38, M6 (Junction 6), M42 (Junction 5)
Rail
Spring Road Rail (9 mins to Birmingham Snow Hill)
Air
Birmingham International Airport
Situation
Acocks Green is a suburb located approximately 5 miles south-east of Birmingham city centre. The property is situated in a prominent location on Fox Hollies Road (A4040), which provides direct access to the A41 and A34, the main arterial routes from the M42 Motorway to Birmingham City Centre. The property is located within a predominantly residential area, forming part of a local retail parade. Nearby occupiers include Greggs and William Hill, with Spring Road Rail within a short walk providing direct services to Birmingham Snow Hill in 9 minutes.
Tenure
Virtual Freehold. Held from Larch Associates Limited on two leasehold titles for a term of 999 years from 01/01/2006 until 31/12/3004 at a rent of £100 p.a. each.
Description
The property comprises two ground floor shops one of which is a double fronted shop. The shops trade as a tattooist and a convenience store and form part of a larger retail/residential development, the remainder of which is not included in the sale.
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 two ground floor shops one of which is a double fronted shop. The shops trade as a tattooist and a convenience store and form part of a larger retail/residential development, the remainder of which is not included in the sale.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x. (gross)
Review/ (Reversion)
321-323
Ground
Retail
76.9 sq m
(827 sq ft)
INDIVIDUAL t/a Booze Burst Convenience Store
20 years from 28/11/2012 (1)
£12,000
28/11/2017 and five yearly (27/11/2032)
325
Ground
Retail
33.8 sq m
(363 sq ft)
INDIVIDUAL t/a Blood & Armour Tattoo Studio
5 years from 25/03/2016 (2)
£6,198
25/03/2019 (24/03/2021)
Totals
110.7 sq m
(1,190 sq ft)
£18,198
(1) The lease provides an option to determine on 28/11/2020 and 28/11/2023. An option to determine on 28/11/2017 was NOT exercised and the notice period has now passed. (2) The lease provides an option to determine on 25/03/2019.
