1090 Warwick Road, Acocks Green, Birmingham, B27 6BH

Freehold high street retail investment.

Property details

Type Investment, Retail
Tenure Freehold, subject to existing tenancy.
Price Offers based on £375,000
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Features
  • Prominent location in thriving neighbourhood shopping suburb
  • Rear access for collections/deliveries
  • Let to established national vetinary charity
  • Passing Rent - £30,500 per annum
  • Offers based on £375,000 (NIY of 7.82%)
Location
Acocks Green is a major conurbation of Birmingham. 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 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). Acocks Green ward is located in the south east of the city. It has a population of 23,117 making it the 3rd most populous ward in the city. The ward has a similar age profile to the city as a whole and a similar ethnic makeup.
Description

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

Accommodation
1,300 sq ft/120.81 sq m
Price
Offers in the region of £375,000 are sought for the Freehold interest. A purchase at this level would equate to a net initial yield of 7.82%, based on a passing rent of £30,500 pa.
Tenancy
The property is let to PDSA for a term of five years from 01/10/2018 and expiring on 30/09/2023. The passing rent is £30,500.
VAT
We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.
EPC
The property has an EPC rating of D.
Legal Costs
Each party are to responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with Anti Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.