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

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. The first floor has been sold off on a long leasehold basis at a peppercorn ground rent.

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).

Accommodation

Ground Floor - 719 sq. ft.
First Floor - sold off long leasehold at a peppercorn ground rent.

Tenure

Freehold, subject to the existing tenancy.

Tenancy

The 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.

Price

Offers based on £275,000 are sought for the Freehold interest, equating to a net initial yield of 7.94%.

Service Charge

Further information is available upon request.

VAT

We are advised that VAT is payable in addition to the purchase price.

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.

Disclaimer

A director of Bond Wolfe has a vested interest in this property,

Size

719 Sq. Ft. (66.8 Sq M)