1076 Warwick Road, Acocks Green, Birmingham, B27 6BH

Freehold town centre retail investment

Property details

Type Investment, Retail
Tenure Freehold, subject to existing tenancy.
Price Offers based on £475,000
Mail icon

Enquire about this property

Save property
Features
  • High Street retail investment opportunity
  • Prominent location in thriving shopping suburb
  • Let to Merkur Slots UK Limited on a 15 year lease, expiring 26/05/2036
  • Passing Rent - £35,000 pa
  • Offers based on £475,000 (NIY of 7.05%), after purchasers costs of 4.59%
Location
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).
Description

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

Accommodation
Ground floor retail area - 1,463 sq ft
First Floor ancillary accommodation - 958 sq ft
Total - 2,421 sq ft
Price
Offers in the region of £475,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 7.05% (after purchasers costs of 4.59%), based on a passing rent of £35,000 pa.
Tenancy
The property is let to Merkur Slots UK Ltd from 27/05/2021, expiring on 26/05/2036 at a passing rent of £35,000 pa. There is a rent review on 27/05/2026, and a break clause on 26/05/2026 with a break penalty of £8,750 and a further break clause on 26/05/2031.
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.