Units 1 and 2, 1078 Warwick Road, Acocks Green, Birmingham, B27 6BH

Location

The property is located on Warwick Road (A41), some 6 miles south east of Birmingham City Centre. Solihull is 4 miles to the south east, Birmingham International Airport is 5 miles to the east, while the NEC is 9 miles to the east. The M42 motorway is 5 miles to the south via Junction 5 of the M6. Acocks Green shopping centre is on the north side of Warwick Road, fronting on to the roundabout junction with Westley Rd and Shirley Rd. Access to the car parking at the rear is via Station Road. This leads to Acocks Green rail station, less than ½ a mile from the property. Motorway is 6.5 miles to the north. Acocks Green rail station is located in close proximity and has frequent services to Birmingham Snow Hill (9 minutes) and Solihull (6 minutes).

Description

The property comprises two separate ground floor retail units with large first floor retail/ancillary accommodation and service access to the rear.

Accommodation

Unit 1 - 306 square feet (trading as a mobile phone shop at ground floor)
Unit 2 – 1,590 square feet (trading as a dental practice at ground floor and includes the whole first floor)

Price

Offers in the region of £550,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 7.51% (after purchasers costs of 4.89%), based on a passing rent of £43,300 pa.

Tenancy

Unit 1 – Let to Mobile n Gadgets for a term of 13 years from 22/12/2017, expiring 27/12/2030. The passing rent is £15,000 per annum exclusive. There are mutual break clauses at 28/12/2023, 28/12/2026, 28/12/2029, and a rent deposit of £4,500 is held)

Unit 2 – let Dr Tarlok Singh Marok (T/A Acocks Green Dental Practice) for a term of 15 years from 11/1/2021, expiring 10/1/2036. The passing rent is £28,300 per annum exclusive. There is a rent review and break clause at 11/1/2026.
The total rental income therefore is £43,300 per annum exclusive.

VAT

The property is elected for VAT, although 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 incurred in this transaction.

Anti Money Laundering

In 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.