Microtech House, 74 New Town Row, Birmingham, B6 4HA
A prominent Freehold redevelopment opportunity on City Centre outskirts
- Prominent location on main arterial route into City Centre
- 0.37 acre (0.15 hectare) site
- 15,042 sq. ft GIA ( 1,397.42 sq. m) with tarmac surfaced yard to rear
- Ground floor currently producing £30,000 plus VAT per annum
- Ideal redevelopment opportunity (STP)
- Freehold - £1,275,000
LocationThe property is in a prominent position fronting New Town Road which forms part of the A34 one of the main arterial routes into Birmingham City centre from the North. The A34 links the city with Walsall and junction 7 of the M6. Also, the A34 provides access to both the Aston Expressway and the A4540 inner ring road. The property is situated approximately 2 miles north of Birmingham city centre in a mixed commercial location with several retail units fronting New Town Row mainly with residential upper parts. In terms of public transport there are numerous bus routes which run along New Town Road providing easy access to the city centre and the northern residential suburbs. Birmingham lies approximately 118 miles northwest of London, 80 miles south of Manchester and 16 miles southeast of Wolverhampton. Road communications to the city are excellent with Birmingham lying at the focal point of the M6, M5 and M42 motorways which, in turn, provide access to the M1, M40 and M54. Birmingham international airport is situated approximately 8 miles southeast of the city centre, close to Junction 4 of the M6 motorway and Junction 6 of the M42. Rail services to London Euston are available in approximately 1 hour 15 minutes.
The subject property currently comprises a ground floor retail unit with office space above and the property is constructed of traditional brick elevations under a flat asphalt covered roof. The ground floor has a full height, single glazed, metal framed, retail display frontage with electrically operated security shutters. To the rear of the premises there is a tarmac surfaced yard which is surrounded by palisade fencing and accessed off Brearley Street. Internally, the ground floor unit provides open plan retail space with a linoleum covered floor, painted plastered walls and suspended ceilings with recessed fluorescent strip lighting. There is also toilet facilities, two small storage cupboards and a staffroom. The upper parts provide former office space which is currently occupied by a charity at a peppercorn rent.
PriceOffers based on £1,275,000 are sought for the Freehold interest, subject to contract.
PlanningWe are advised that the property is not listed and does not lie within the local conservation area. The site is deemed suitable for redevelopment, particularly retention of the ground floor for retail use with conversion of the upper floors to residential use ( subject to consent) . A variety of schemes are possible and interested parties can make further enquiries via Birmingham City Council planning department on 0121 303 1115.
TenancyThe ground floor is let to Aris Flooring Ltd (trading as Floors 2 You) on a five-year term from 1/1/2020 at a passing rent of £30,000 plus VAT per annum. The upper floors are currently let on an informal basis to a charity at a peppercorn rent.
VATWe are advised that VAT is applicable and will be payable in addition to the purchase price.
ServicesWe understand that all mains services are available to the property, although we have not made any enquiries of the respective service supply companies.
EPCAvailable upon request.
Legal CostsEach party is to be responsible for their own legal costs incurred in this transaction.
Anti Money LaunderingIn accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of any funding will be required from the successful purchaser.
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