28 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 for a term of 10 years until 11/03/2031
- Passing rent - £20,000 per annum
- Freehold - £296,000 plus VAT, reflecting a NIY of 6.54%
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 1.465 sq. ft. (136.1 sq m) over ground and first floors and benefits from excellent levels of passing trade. The property is currently let to Moroccan Givings and incorporates open plan retail space to the ground floor with ancillary accommodation top the first floor.
AccommodationGround floor – 775 sq. ft. (71.999 sqm)
First Floor – 690 sq. ft. (64.103 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 6.54%, allowing for purchasers costs of 3.25%.
TenancyThe property is let to Brahim El Bakhar, trading as Moroccan Givings for a term of 10 years from 12/03/2021, expiring on 11/03/2031. The passing rent is £20,000 per annum.
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.