26 Alcester Road South, Kings Heath, Birmingham, B14 7PU
A Freehold retail investment opportunity
- Located in popular South Birmingham suburb
- Prominent main road location with high footfall
- Let to PDSA until 23/01/2023
- Passing rent - £21,750 per annum
- Freehold - £299,000 plus VAT, reflecting a NIY of 7.04%
LocationThe 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).
A prominent mid parade retail unit extending to 1.514 sq. ft. (140.66 sq m) over ground and first floors and benefits from excellent levels of passing trade.
The property currently let to PDSA and incorporates open plan retail space to the ground floor with ancillary accommodation top the first floor.
AccommodationGround floor – 812 sq. ft. (75.437 sqm)
First Floor – 702 sq. ft. (65.217 sq m)
PriceOffers based on £290,000 are sought for the Freehold interest, subject to the existing tenancy. A purchase at this level represents a net initial yield of 7.04%, allowing for purchasers costs of 3.29%.
TenancyThe property is let to PDSA for a term of 5 years from 24/01/2018, expiring on 23/01/2023. The passing rent is £21,750 per annum.
PDSA is a major registered charity that has been established for 96 years. The PDSA operate 179 retail shops in the UK, 377 Pet Aid practices and 43 Pet Aid hospitals.
VATWe are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.
EPCAvailable upon request.
Anti Money LaunderingIn accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
A member of Bond Wolfe has a vested interest in this property.
2 & 4 Parade, Leamington Spa, Warwickshire, CV32 4DW
Investment, Retail For Sale
Offers in the region of £625,000