1104 Warwick Road, Acocks Green, Birmingham, B27 6BH

Freehold High Street retail investment

Property details

Type Investment, Retail
Tenure Freehold, subject to the existing tenancy.
Price Offers based on 545,000
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Features
  • Prominent location in thriving neighbourhood shopping suburb
  • Rear car park, with service access for collections
  • Let to established national retailer until 31/10/2026
  • Passing Rent - £38,950 per annum
  • Freehold
  • Offers based on £545,000 (NIY of 6.81%)
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
Ground floor: 2,594 sq ft/241.07 sq m
First floor: 2,611 sq ft/242.65 sq m
Total: 5,205 sq ft/483.73 sqm
Price
Offers in the region of £545,000 are sought for the Freehold interest. A purchase at this level would equate to a net initial yield of 6.81%, based on a passing rent of £38,950 pa.
Tenancy
The property is let to Boots UK Ltd for a term of five years from 01/11/2021 and expiring on 31/10/2026. The tenant has the option to break on 31/10/2024, where the tenant will receive 3 months rent free if the break isn’t exercised. The passing rent is £38,950 pa. Boots have occupied this unit for over 20 years.
VAT
The property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
EPC
The property has an EPC rating of C.
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.