Let to Iceland Foods Limited on a lease expiring 28th October 2025
Close to Morrisons supermarket, car park (200 spaces) and a bus stop
VAT-free investment
Lot 6
Auction 12th February 2020
Rent £78,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
On Behalf of Wesleyan
Property Information
Location
Miles
3 miles north-west of Solihull
4 miles south of Birmingham city centre
15 miles west of Coventry
Roads
A41, A34, A38, M6 (Junction 6), M42 (Junction 5)
Rail
Acocks Green Railway Station
Air
Birmingham International Airport
Situation
Acocks Green is a busy and popular urban suburb located approximately 4 miles south-east of Birmingham city centre. The property is situated in a prominent location on Warwick Road (A41), Acock Green's main retailing area. The property is located on Warwick Road, close to its junction with Station Road. A Morrisons supermarket and large car park is located close by, with other nearby occupiers including NatWest, Lloyds Pharmacy, KFC, Boots, Halifax and Superdrug.
Tenure
Freehold.
Location
Miles
3 miles north-west of Solihull
4 miles south of Birmingham city centre
15 miles west of Coventry
Roads
A41, A34, A38, M6 (Junction 6), M42 (Junction 5)
Rail
Acocks Green Railway Station
Air
Birmingham International Airport
Situation
Acocks Green is a busy and popular urban suburb located approximately 4 miles south-east of Birmingham city centre. The property is situated in a prominent location on Warwick Road (A41), Acock Green's main retailing area. The property is located on Warwick Road, close to its junction with Station Road. A Morrisons supermarket and large car park is located close by, with other nearby occupiers including NatWest, Lloyds Pharmacy, KFC, Boots, Halifax and Superdrug.
Tenure
Freehold.
Description
The property comprises a ground floor shop with ancillary accommodation above and rear service access.
VAT
VAT is not applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Description
The property comprises a ground floor shop with ancillary accommodation above and rear service access.
VAT
VAT is not applicable to this lot.
EPC
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail Ancillary
491.7 sq m 228.5 sq m
(5,293 sq ft) (2,460 sq ft)
ICELAND FOODS LIMITED (1)
20 years from 29/10/2005 on a full repairing and insuring lease (2)
£78,800
29/10/2020
Total
720.20 sq m
(7,753 sq ft)
£78,800
(1) For the year ended 29th March 2019, Iceland Foods Limited reported a turnover of £3,022,800,000 pre-tax profits of £31,200,000 and a net worth of £792,900,000 (Source: Experian 13/01/2020). (2) Please note the term of the lease is 15 years from 29/10/2005, together with a reversionary lease granted to extend the lease by a further 5 years expiring 08/10/2025.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
