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

A Freehold retail investment opportunity

Property details

Type Investment, Retail
Tenure Freehold
Size 719 Sq. Ft. (66.8 SqM)
Price £275,000 + VAT
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Features
  • Located in popular South Birmingham suburb
  • Prominent main road location with high footfall
  • Let to HRS Family Solicitors
  • Passing rent - £21,000 per annum
  • Freehold - £275,000 plus VAT, reflecting a NIY of 7.42%
Location
The property occupies a very prominent position on the corner of Alcester Road South and 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 corner retail unit at the junction of Alcester Road South and Vicarage Road. The property extends to 719 square feet and benefits from a return frontage providing good exposure to passing trade.

Price
Offers based on £275,000 are sought for the Freehold interest , subject to the existing tenancy. A purchase at this level represents a net initial yield of 7.42%, allowing for purchasers costs of 2.98%.
Tenancy
The property is let to HRS Family Solicitors for a term of 5 years from 26/1/2018, expiring on 25/1/2023. The passing rent is £21,000 per annum.
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.
Service Charge
Further information is 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.