15 Watford Road, Birmingham, West Midlands, B30 1JB

Description

The property comprises a two storey mid terrace within a parade of similar properties. On the ground floor there is a spacious open plan retail unit with kitchen. On the first floor there is staff and storage facilities. The property is let & currently trades as an established convenience store.

Location

The property lies to the eastern side of the main A4040 Watford Road near to it's junction with the A441 Pershore Road within the heart of the busy shopping area of Cotteridge close to the Bournville borders. There is a good mix of local retailers together with a number of national operators including Heron Foods, Greggs, Subway, Savers, Spar and the Post Office in the immediate vicinity. Cotteridge is a popular suburb bordering Bournville, Kings Norton and Stirchley, located approximately 4 miles south of Birmingham City Centre, it is well served by public transport including the nearby Kings Norton and Bournville Railway Stations.

Accommodation

Internal width 14’ 0”
Ground floor sales area 416 sq ft
Ground floor store 96 sq ft
Kitchen 64 sq ft
First floor 310 sq ft

Tenure

Freehold, subject to the existing tenancies

Tenancy

The property is let in it’s entirety to Boss Mart 3 Ltd for a term of 7 years from 7/2/2024 at a passing rent of £13,250 per annum. There is a rent review at the 5 anniversary and an option to break at the 3 anniversary, subject to 6 months prior written notice.

Price

£160,000 is sought for the Freehold interest , subject to the existing tenancy. A purchase at this level equates to a Net initial yield of 8.12%

Business Rates

Current rateable value (1 April 2023 to present): £10,250

EPC

Available upon request.

Legal Costs

Each party is to be 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.