128-130 High Street, Birmingham, B14 7LG

A prime freehold retail investment property let to Lloyds Pharmacy

Property details

Type Investment
Tenure Freehold, subject to the existing tenancy.
Price Please refer
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  • Prime retail location on Kings Heath High Street
  • 1,585 sq ft (147.25 sq m) retail unit
  • Let to Lloyds Pharmacy Limited
  • 10 year lease, expiring 21/11/2024
  • Passing rent - 70,000 pax
The property occupies a very prominent position on Kings Heath High Street close to its junction with Silver Street within the prime retail pitch close to the Sainsbury’s supermarket. Major multiple retailers within the immediate vicinity include, Boots, WH Smith, Superdrug, and Poundland. It is also situated close to one of Kings Heath’s main car parks in Institute Road. Kings Heath is a popular residential suburb of Birmingham located approximately 4 miles (6km) south of the City Centre, 25 miles (40km) north of Worcester and 20 miles (32km) west of Coventry. The town lies within 5 miles (8km) from Junction 3 of the M42, which in turn links to the M40 (Junction 3A), the M5 (Junction 4A) and the M6 (Junction 7A).

The property comprises a purpose-built retail unit extending to 965 sq ft (89.65 sq m) trading as Lloyds Pharmacy and fitted out to the tenant’s usual corporate branding. The property is situated in a prime position within the heart of Kings Heath High Street and its bustling retail Centre.

Ground floor retail - 1,585 sq ft/147.25 sq m
Please refer.
The property is let to Lloyds Pharmacy Limited on a ten year lease from 22/11/2014, expiring 21/11/2024. There are no break clauses.

Tenant profile - Lloyds Pharmacy is a leading community pharmacy and healthcare provider with over 1,400 pharmacies across the UK, mainly in community and health centre locations. They employ around 17,000 staff and dispense over 150 million prescription items every year.
The property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
Available upon request.
Legal Costs
Each party are to be responsible for their own legal costs.
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.