150 Birmingham Road, West Bromwich, B70 6QT

Description

The property comprises a detached two-storey property trading as Sandwell Valley School. The property is set back behind a substantial car park to the front with main reception area leading to several classrooms and offices off a central corridor. There are passenger lifts and WCs to each floor. To the rear of the property is a former car park which is now utilised as exterior amenity space for students.

Location

The property occupies a prominent position on the main Birmingham Road just off Junction 1 of the M5 Motorway, on the outskirts of West Bromwich town centre. The property is situated by the A41 Expressway (Birmingham Road), which links nearby West Bromwich with Wolverhampton, Birmingham, and Solihull. Birmingham is approximately 5 miles east via the A41 (or M6 and A38M), London 120 miles southeast via the M40, Bristol 87 miles south-west via the M5 and Manchester 80 miles north via the M6. Road communications are therefore excellent as the property is located at the centre of the UK motorway network. National rail services are available from Birmingham New Street, Snow Hill, and Moor Street. In addition, the West Midlands Metro links the property to West Bromwich town centre, Wolverhampton, and Birmingham City Centre .

Accommodation

Please see enclosed detailed brochure.

Tenure

Freehold, subject to existing tenancies.

Tenancy

The property is let in its entirety to Sandwell Valley School Limited (company number 10288316, charity number 1172272) for a term of 25 years from 29/09/2016, expiring 28/09/2041. The passing rent is £100,000 per annum exclusive and there are five yearly rent reviews, the next of which is on 29/09/2026. There is a break clause on 29/09/2036, subject to six months written notice.

Price

Offers in excess of £1,347,000 are sought for the Freehold interest. A purchase at this level would equate to a net initial yield of 7.00% after the usual purchaser’s costs.

Additional Information

COVENANT -
Sandwell Valley School is a charity and an independent school (part of the Sandwell Community Caring Trust) which offers alternative provision to pupils aged 11 to 18 who study qualifications including GCSEs and Functional skills. The school was opened in September 2016.

TENANT GUARANTEE -
The lease is guaranteed by Sandwell Community Caring Trust (company number 03286106, charity number 1086162) and a copy of the lease is available upon request to the selling agents.

VAT

We understand that the building is elected for VAT and the transaction will be treated as a transfer of a going concern (TOGC).

EPC

C54 (valid until 30 March 2035).

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.

Disclaimer

A director of Bond Wolfe has a vested interest in this property.