1074 Warwick Road, Acocks Green, Birmingham, B27 6BH

Freehold town centre retail investment let to Card Factory.

Property details

Type Investment
Tenure Freehold, subject to the existing tenancy.
Size 1484 sq ft.
Price Guide Price £445,000
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  • High Street retail investment opportunity
  • Prominent location in thriving shopping suburb
  • Let to Card Factory on a 10 year lease, expiring 17/6/2025
  • Passing Rent - £32,500 pa
  • Offers based on £445,000 (NIY of 7%) after purchasers costs of 4.44%
The property is located on Warwick Road (A41), 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. Access to the car parking at the rear is via Station Road. This leads to Acocks Green rail station, less than ½ a mile from the property. Motorway is 6.5 miles to the north. Acocks Green rail station is located in close proximity and has frequent services to Birmingham Snow Hill (9 minutes) and Solihull (6 minutes).

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

The property extends to 1,484 sq ft
591 sq ft ITZA
Offers in the region of £445,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 7% (after purchasers costs of 4.44%), based on a passing rent of £32,500 pa.
The property is let to Sportswift Ltd (trading as Card Factory) on a 10 year lease from 18/6/2010, expiring 17/6/2025. A reversionary lease was signed for a further 5 years from 18/6/20 to 17/6/25 at a rent of £16,250 pa from 18/6/20 to 17/6/22 then rising to £32,500 pa thereafter. The vendor will top up the rent to cover this period.

Tenant profile - Card Factory have over 700 stores in the UK, and is positioned in the lower/middle value sector of the greeting cards market.
The property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
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.