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
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Wesleyan Assurance Society

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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

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

Tenure

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

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.