22-24 Alcester Road South, Kings Heath, Birmingham, B14 7PU

Description

A prominent mid parade double retail unit extending to 3,202 sq. ft. (297.48 sq m) over ground and first floors and benefits from excellent levels of passing trade.

The property currently let to Kofo Cosmetics and incorporates open plan retail space to the ground floor with ancillary accommodation top the first floor.

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).

Accommodation

Ground floor – 1,638 sq. ft. (152.175 sq m)
First Floor – 1,564 sq. ft. (145.300 sq m)

Tenure

Freehold

Tenancy

The property is let to Kofo Cosmetics for a term of 5 years from 01/10/2021, expiring on 30/09/2026. The passing rent is £45,000 per annum.

Price

Offers based on £575,000 plus VAT are sought for the Freehold interest , subject to the existing tenancy. A purchase at this level represents a net initial yield of 7.46%, allowing for purchasers costs of 4.97%.

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.

Size

3,202 sq. ft. (297.48 sq m)