1098 Warwick Road, Acocks Green, Birmingham, B27 6BJ
Freehold town centre bank investment
- High Street bank investment opportunity
- Prominent location in thriving shopping suburb
- Let to Lloyds TSB (T/A Lloyds Bank) on a 15 year lease, expiring 24/12/2027
- Passing Rent - £75,000 pa
- Offers based on £887,000 (NIY of 8.01%), after purchasers costs of 5.62%
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 bank/shop area with ancillary accommodation and service access to the rear.
AccommodationGround floor - 3,075 sq ft
First floor ancillary accommodation - 815 sq ft
Total 3,890 sq ft
PriceOffers in the region of £887,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 8.01% (after purchasers costs of 5.62%), based on a passing rent of £75,000 pa.
TenancyThe property is let to Lloyds PLC from 25/12/2012, expiring on 24/12/2027 at a passing rent of £75,000 pa.
VATThe property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
EPCAvailable upon request.
Legal CostsEach party is to be responsible for their own legal costs incurred in this transaction.
Anti Money LaunderingIn 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.
2 & 4 Parade, Leamington Spa, Warwickshire, CV32 4DW
Investment, Retail For Sale
Offers in the region of £625,000