Substantial public house/live music venue situated in Birmingham city centre
Prominently situated close to Birmingham International Conference Centre and the National Indoor Arena
Close to Cambrian Hall, a major student halls of residence
Canal side frontage benefiting from a large beer garden
Six week completion available
Lot 37
Auction 9th December 2010
Rent Gross: £61,600 per Annum
Status Sold Post
Price
Sector Public House
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Estimated Population
977,087
0.3 miles north west of Birmingham city centre
50 miles south-west of Nottingham
115 miles north-west of London
Roads
A456, A457, A41
Rail
Birmingham New Street Railway Station
Air
Birmingham International Airport
Situation
The property is situated in a prominent position overlooking Birmingham Canal Basin accessed via Kingston Row. The property benefits from being a short walk from the city centre and from its proximity to Birmingham International Conference Centre, the National Indoor Arena and Cambrian Hall of Residence.
Tenure
Leasehold. Leasehold Held on a lease from the City of Birmingham for a term of 99 years from 2nd June 1969 expiring 1st June 2068 at a rent of £3,400 per annum exclusive The rent is subject to reviews every 25 years with the next review being 1st June 2019
Location
Estimated Population
977,087
0.3 miles north west of Birmingham city centre
50 miles south-west of Nottingham
115 miles north-west of London
Roads
A456, A457, A41
Rail
Birmingham New Street Railway Station
Air
Birmingham International Airport
Situation
The property is situated in a prominent position overlooking Birmingham Canal Basin accessed via Kingston Row. The property benefits from being a short walk from the city centre and from its proximity to Birmingham International Conference Centre, the National Indoor Arena and Cambrian Hall of Residence.
Tenure
Leasehold. Leasehold Held on a lease from the City of Birmingham for a term of 99 years from 2nd June 1969 expiring 1st June 2068 at a rent of £3,400 per annum exclusive The rent is subject to reviews every 25 years with the next review being 1st June 2019
Description
The property comprises a PUBLIC HOUSE on the ground and first floors with BASEMENT CELLAR together with a SELF-CONTAINED RESIDENTIAL FLAT comprising kitchen, bathroom, separate WC and four rooms on the second floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a PUBLIC HOUSE on the ground and first floors with BASEMENT CELLAR together with a SELF-CONTAINED RESIDENTIAL FLAT comprising kitchen, bathroom, separate WC and four rooms on the second floor.
VAT
VAT is 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
Gross Rent p.a.x
Reversion
Basement, Ground & First Second
Public House Residential Flat
649.93 sq m 106.47 sq m
(6,996 sq ft) (1,146 sq ft)
INDIVIDUAL
5 years from 16/04/2007 (2)
£65,000
15/04/2012
Totals
756.40 sq m
(8,142 sq ft)
£65,000 (3)
(1) The Flapper is one of the leading independent live music venues and pubs in Birmingham city centre. The gig room provides two of the city’s best promoters every weekend, as well as showcasing gigs during the weeknights, featuring bands from a local level to a national level. (Source: www.theflapper.co.uk11/11/2010)(2) Under the terms of the lease there is a rolling landlord break after 16th October 2010, subject to three months’ notice.(3) The current gross rental income is £65,000 p.a.x. Therefore the current net rental income after allowing for the head rent payable is £61,600 p.a.xThis lot is opted to tax and a sale as a TOGC may be possible.Rent £65,000 per annum exclusive (Gross) £61,600 per annum (Net)
