1072 Warwick Road, Acocks Green, Birmingham, B27 6BH

Freehold High Street retail investment.

Property details

Type Investment, Retail
Tenure Freehold, subject to the existing tenancy.
Price Offers based on £415,000
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Features
  • High Street retail investment opportunity
  • Prominent location in thriving shopping suburb
  • Let to Razghan Ahmed T/A Caspian Pizza on a 10 year lease, expiring 23/06/2025
  • Passing rent - £33,000 per annum
  • Offers based on £415,000 (NIY of 7.63%), after purchaser's costs of 4.27%
Location
The property is located on Warwick Road (A41), in the busy retail location of Acocks Green, some 6 miles south east of Birmingham City Centre. Solihull is 4 miles to the south east, Birmingham International Airport is 5 miles to the east, while the NEC is 9 miles to the east. The M42 motorway is 5 miles to the south via Junction 5 of the M6 Acocks Green shopping centre is on the north side of Warwick Road, fronting on to the roundabout junction with Westley Rd and Shirley Rd.
Description

The property comprises a ground floor retail area shop with ancillary accommodation and service access to the rear.

Accommodation
Ground floor retail area - 904 sq ft
First Floor ancillary accommodation - 678 sq ft
Total - 1,582 sq ft
Price
Offers in the region of £415,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 7.63% (after purchasers costs of 4.27%), based on a passing rent of £33,000 pa.
Tenancy
The property is let to Razghan Ahmed trading as Caspian Pizza on a ten year lease from 24/06/2015, expiring 23/06/2025 at a passing rent of £33,000 pa.
VAT
The property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
EPC
Available upon request.
Legal Costs
Each party is to be responsible for their own legal costs incurred in this transaction.
Anti Money Laundering
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of any funding will be required from the successful purchaser. Disclaimer - A director of Bond Wolfe has a vested interest in this property.