Freehold Ground Rent Investment with Valuable Reversion in 2021
Ground rent investment let until 2021
Two retail units with three bed residential flat
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 £18.25 p.a.x with rateable value for commercial units of £39,250
Lot 17
Auction 18th October 2018
Rent £18 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 which are currently used as restaurants with first floor ancillary accommodation at unit 28. 26a comprises a self contained three bedroom residential flat.
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 which are currently used as restaurants with first floor ancillary accommodation at unit 28. 26a comprises a self contained three bedroom residential flat.
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 26
No 26a
No 28
Ground
First
Ground & First
Retail & Ancillary
Residential
Retail & Ancillary
203.09 sq m
83.03 sq m
133.02 sq m (GIA)
(2,186 sq ft)
(894 sq ft)
(1,432 sq ft) (GIA)
ROMAR INVESTMENTS LTD (2)
Bodega Cantina
Sangria Spanish Restaurant
99 years expiring 18/03/2021
£18.25
£27,250
£12,000
Total
419.14 sq m
(4,512 sq ft)
£18.25
(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