Let to Peacock Stores Properties Limited on Assignment and with Privity of Contract from British-American Tobacco (Holdings) Limited (Formerly Tesco Stores Limited)
58 Years Unexpired Term
British-American Tobacco (Holdings) Limited reported Pre Tax Profits of £5.1bn and Net Assets of £25.1bn
Substantial Building of Approximately 1937.10 sq m (20,851 sq ft)
2023 Rent Review Outstanding
Nearby Occupiers include B&M Store, Tesco Express, KFC, Erdington Library, Erdington Leisure Centre and a range of local businesses
Let to Peacock Stores Properties Limited on Assignment and with Privity of Contract from British-American Tobacco (Holdings) Limited (Formerly Tesco Stores Limited)
58 Years Unexpired Term
British-American Tobacco (Holdings) Limited reported Pre Tax Profits of £5.1bn and Net Assets of £25.1bn
Substantial Building of Approximately 1937.10 sq m (20,851 sq ft)
2023 Rent Review Outstanding
Nearby Occupiers include B&M Store, Tesco Express, KFC, Erdington Library, Erdington Leisure Centre and a range of local businesses
Lot 18
Auction 15th May 2025
Rent £43,100 per Annum Exclusive
Status Available
Guide* Contact Us
Sector Retail, High Street Retail, Ground Rent
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles north-east of Birmingham City Centre
Roads
A38, A452, M6
Rail
Erdington Railway Station
Air
Birmingham City Airport
Situation
The property is prominently situated in on the north side of the busy High Street, approximately 100 metres east of its junction with Summer Road. The immediate locality benefits from an eclectic mix of local retailers and major occupiers include B&M Store, Tesco Express, KFC, Erdington Library, Erdington Leisure Centre,
Tenure
Freehold.
Location
Miles
4 miles north-east of Birmingham City Centre
Roads
A38, A452, M6
Rail
Erdington Railway Station
Air
Birmingham City Airport
Situation
The property is prominently situated in on the north side of the busy High Street, approximately 100 metres east of its junction with Summer Road. The immediate locality benefits from an eclectic mix of local retailers and major occupiers include B&M Store, Tesco Express, KFC, Erdington Library, Erdington Leisure Centre,
Tenure
Freehold.
Description
The property comprises a regular and level site of approximately 1045 sq m (1250 sq yards/0.25 Acres), upon which has been constructed a a large format retail building with accommodation on the ground, first and second floors. The property benefits from a rear Car Park and a significant rear frontage to the A5127.
VAT
VAT is not applicable to this lot.
EPC
Band C
Description
The property comprises a regular and level site of approximately 1045 sq m (1250 sq yards/0.25 Acres), upon which has been constructed a a large format retail building with accommodation on the ground, first and second floors. The property benefits from a rear Car Park and a significant rear frontage to the A5127.
VAT
VAT is not applicable to this lot.
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
All floors
Retail and Ancillary
1,937.10
(20,851)
BRITISH-AMERICAN TOBACCO (HOLDINGS) LIMITED (CRN 00262254)(FORMERLY TESCO STORES LIMITED) (1) ON ASSIGNMENT TO PEACOCK STORES PROPERTIES LIMITED (CRN: 13324423) AND WITH PRIVITY OF CONTRACT
120 years from 24th June 1963 until 2083
£40,000
24/06/2023 and 2053 (4)
Roof
Communications Equipment
ORANGE PERSONAL COMMUNICATIONS LIMITED (CRN 2178917) (2)
15 years from 30th October 2007 (Holding over)
£3,100
-
Total Approximate Floor Area
1,937.10 (3)
(20,851) (3)
£43,100
(1) For the year ending 31st December 2023 British-American Tobacco (Holdings) Limited (crn 00262254)(Formerly Tesco Stores Limited) reported Pre-Tax Profits of £5,097,403,000. and Net Assets of £25,132,839,000. (Source: Annual report and financial statements for the year ended 31 December 2023 as published at Companies House 23/04/2025). (2) The lease of the Roof Space for use of Telecommunications equipment is a sub lease granted by Peacock Stores Properties Limited (CRN: 13324423). The rent shown in the schedule above is payable to the Seller by Peacock Stores Properties Limited and is a sum equal to 33% of the Basic sub Rent payable by the Undertenant to the Tenant under the terms of the Underlease. See Licence to Underlet dated 30th October 2007 in the Legal Pack. (3) The The floor areas stated above are those published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/start/320083221 (4) The lease provides for the rent to be reviewed to a "Fair and Proper Rent" for 1250 square yards of the land.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
