4 Alcester Road South, Kings Heath, Birmingham, West Midlands, B14 7PU
A Freehold Retail Investment Opportunity for Sale, Let on a New Lease at £22,500 per annum
- Located in popular South Birmingham suburb
- Prominent main road location with high footfall
- Ground floor – 719 sq. ft.
- Rear car parking
- Let on a new 10 year lease at a passing rent of £22,500 per annum
- Freehold - £275,000 plus VAT per annum
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. The first floor has been sold off on a long leasehold basis at a peppercorn ground rent.
LocationThe 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).
AccommodationGround Floor - 719 sq. ft.
First Floor - sold off long leasehold at a peppercorn ground rent.
TenureFreehold, subject to the existing tenancy.
TenancyThe property is let to a local convenience store operator for a term of ten years from 16/3/2023, at a passing rent of £22,500 per annum.
PriceOffers based on £275,000 are sought for the Freehold interest, equating to a net initial yield of 7.94%.
Service ChargeFurther information is available upon request.
VATWe are advised that VAT is payable in addition to the purchase price.
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.
DisclaimerA director of Bond Wolfe has a vested interest in this property,
Size719 Sq. Ft. (66.8 Sq M)
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