571 Bearwood Road, Smethwick, West Midlands, B66 4BH

Freehold retail investment opportunity let to long established tenant.

Property details

Type Investment
Tenure Freehold, subject to the existing tenancy.
Size 1,554 sq ft
Price Offers invited £395,000
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  • High Street retail investment opportunity
  • Prominent location in thriving neighbourhood shopping suburb
  • Let to Alan Warwick Butchers Ltd on a 10 year lease, expiring 24/5/2026
  • Passing Rent - £28,500 per annum
  • Offers based on £395,000 (NIY of 6.93%) after purchasers costs of 4.11%
The property occupies a prominent position on the main A4030 Bearwood Road, which leads directly off the A456 Hagley Road. Bearwood is a thriving commercial and residential suburb and forms the southern part of Smethwick to the north of the Hagley Road (A456). The town is centred on Bearwood Road at the crossroads of Sandon Road and Three Shire Road, bordering the city centre, 4 miles (6.4 km) to the east. The town also benefits from excellent communications strategically lying within the motorway network which skirts the city (M5, M6, and M42).

571 Bearwood Road comprises a mid-parade two-storey retail premises, currently trading as a long established Butchers with ancillary accommodation above.

Ground floor – 995 sq ft
First Floor – 559 sq ft
Offers in the region of £395,000 are sought for the Freehold interest. A purchase at this level would equate to a net initial yield of 6.93% (after purchasers costs of 4.11%), based on a passing rent of £28,500 pa.
The property is let to Alan Warwick Butchers Ltd for a term of ten years from 25/5/2016 and expiring on 24/5/2026. The passing rent is £28,500 pa.
Tenant profile - Alan Warwick Butchers are a 30 year established Butchers serving the Black Country & West Midlands. They have 11 stores located throughout the region.
The property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
Available upon request.
Legal Costs
Each party are to be responsible for their own legal costs incurred in this transaction.
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.