16 Alcester Road South, Kings Heath, Birmingham, B14 7PU

Location

The property occupies a very prominent position on Alcester Road South near it’s junction with Vicarage Road, within the prime retail pitch close to the Sainsbury's supermarket. Major multiple retailers within the immediate vicinity include, Boots, WH Smith, Superdrug, Argos 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).

Description

A prominent mid parade retail unit extending to 1.409 sq. ft. (130.9 sq m) over ground and first floors and benefits from excellent levels of passing trade.

The property currently trades as a Barnardo's charity shop, and incorporates open plan retail space to the ground floor with ancillary accommodation top the first floor.

Accommodation

Ground floor – 794 sq. ft. (73.765 sqm)
First Floor – 615 sq. ft. (57.135 sq m)

Price

Offers based on £335,000 are sought for the Freehold interest, subject to the existing tenancy. A purchase at this level represents a net initial yield of 6.91%, allowing for purchasers costs of 3.67%.

Tenancy

The property is let to Barnardo's for a term of 10 years from 25/12/2013, expiring on 24/12/2023. The passing rent is £24,000 per annum.
Covenant : Barnardo's is a British charity founded by Thomas John Barnardo in 1866, to care for vulnerable children. As of 2013, it raised and spent around £200 million each year running around 900 local services, aimed at helping these same groups. It is the UK's largest children's charity, in terms of charitable expenditure.

VAT

We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.

EPC

Available upon request.

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.
Agents Note:
A member of Bond Wolfe has a vested interest in this property.

Disclaimer

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