Freehold Ground Rent Investment with Valuable Reversion in 2021
Ground rent investment let until 2021
Comprises two retail units
Forms part of popular retail parade to be sold as eight separate lots (11-18)
Valuable Reversions to be realised in 2021
Development potential (subject to consents)
Current rent £10.60 p.a.x with rateable value of £28,250
Lot 16
Auction 18th October 2018
Rent £10 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of a Cambridge College
Property Information
Location
Miles
7 miles north-east of Birmingham
Roads
A452, M1, M6
Rail
Sutton Coldfield
Air
Birmingham International
Situation
Sutton Coldfield is an affluent suburb some 7 miles north-east of Birmingham city centre. The property occupies a prominent position on Birmingham Road (A5127), the main arterial route between Sutton Coldfield town centre and the A38(M) and M6 Motorway. The property is located less than five minutes’ walk south of the Gracechurch Shopping Centre. Other nearby occupiers including Lloyds Bank, Oxfam, Pizza Express, Nando’s, Slug & Lettuce and Empire Cinema. Sutton Cottage Hospital is also located opposite.
Tenure
Freehold.
Location
Miles
7 miles north-east of Birmingham
Roads
A452, M1, M6
Rail
Sutton Coldfield
Air
Birmingham International
Situation
Sutton Coldfield is an affluent suburb some 7 miles north-east of Birmingham city centre. The property occupies a prominent position on Birmingham Road (A5127), the main arterial route between Sutton Coldfield town centre and the A38(M) and M6 Motorway. The property is located less than five minutes’ walk south of the Gracechurch Shopping Centre. Other nearby occupiers including Lloyds Bank, Oxfam, Pizza Express, Nando’s, Slug & Lettuce and Empire Cinema. Sutton Cottage Hospital is also located opposite.
Tenure
Freehold.
Description
The property comprises two ground floor retail units with first floor ancillary accommodation.
The property forms part of a parade which is being offered in eight separate lots (11-18).
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 retail units with first floor ancillary accommodation.
The property forms part of a parade which is being offered in eight separate lots (11-18).
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 No
Floor
Use
Floor Areas (Approx)
Tenant
Current occupier trading as
Term
Rent p.a.x
Rateable Value (3)
No 22
No 24
Ground, First & Second
Ground, First & Second
Retail & Ancillary
Retail & Ancillary
152.54sqm
118.10sqm
(1,641sqft)
(1,272sqft)
DARVIST PROPERTY LTD (2)
C Michael’s Drinks Store
Martin & Co
99 years expiring 18/03/2021
£10.60
£13,750
£14,500
Total
270.64sqm
(2,913sqft)
£10.60
(1) A measured survey with a breakdown of the areas is available to view in the legal pack. (2) We understand the property has been sublet - information of these sublettings can be found in the legal pack. (3) Source: www.tax.service.gov.uk
