1074 Warwick Road, Acocks Green, Birmingham, B27 6BH
Freehold town centre retail investment let to Card Factory.
- 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%
LocationThe 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.
AccommodationThe property extends to 1,484 sq ft
591 sq ft ITZA
PriceOffers 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.
TenancyThe 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.