712 – 716 Chester Road, Erdington, Birmingham, West Midlands, B23 5TE

Location

The properties form party of a prominent parade of retail shops at the main junction of the A452 Chester Road and the A5127 Sutton Road in Erdington and lies adjacent to McDonalds. Erdington lies approx. 4.5 miles north-east of Birmingham city centre and benefits from excellent road links. Important roads that access the area include A38 (Birmingham to Derby road), A5127 (Gravelly Hill) and the A47 Spine Road. The M6 motorway forms the southern border of the district, with connections at Junction 6 (Gravelly Hill Interchange). There is a well-established network of bus routes through Erdington with connections to Birmingham city centre and Sutton Coldfield.. The properties are located within walking distance of Chester Road railway Station.

Description

The properties comprise 3 ground floor retail shops with 3 separate self-contained apartments above.

Accommodation

712 Chester Road – Ground floor shop extending to approximately 870 sq. ft. with a self contained 1 bedroom flat above.
714 Chester Road – Ground floor shop extending to approximately 568 sq. ft. with a self contained 2 bedroom flat above.
716 Chester Road - Ground floor shop extending to approximately 704 sq. ft. with a self contained 2 bedroom flat above.

Price

Offers in the region of £750,000 are sought for the Freehold interest, subject to the existing tenancies.

Tenancy

712 Chester Road
Ground Floor Tenant - Roofa Miah T/A Balti Hut Takeaway
Lease Term - 25 years from 14/04/2014
Annual Rent - £16,000
First Floor - Residential
Lease Term - AST
Annual Rent - £6,000

714 Chester Road
Ground Floor Tenant - Tariq Mahmood T/A Express Wines
Lease Term - 25 years from 25/03/2003
Annual Rent - £13,000
First Floor - Residential
Lease Term - AST
Annual Rent - £6,000

716 Chester Road
Ground Floor Tenant - Alfat Hussain T/A Tasty Pizza
Lease Term - 20 years from 30/11/2016
Annual Rent - £13,000
First Floor - Residential
Lease Term - AST
Annual Rent - £6,000

Total Annual Rent - £60,000.

VAT

We are advised that VAT is not applicable. However, if VAT is payable, then it is anticipated that the sale will be dealt with by way of a TOGC.

EPC

Available upon request.

Legal Costs

Each party is to be responsible for their own legal costs that may be 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.