1086 Warwick Road, Acocks Green, Birmingham, B27 6BH
High Street Retail Investment in Acocks Green
Sold prior to auction, for an undisclosed amount
A Freehold High Street Retail Investment Let to Specsavers Current Gross Income: £425,000 pa.
Property DescriptionThe property comprises a ground floor retail area shop with ancillary accommodation and service access to the rear.
LocationThe property is located on Warwick Road (A41), in the busy retail location of Acocks Green, 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.
AccommodationThe property extends to 1,637 sq.ft. (152.08 sq.m.) 578 sq.ft. - (53.69 sq.m.) ITZA.
Energy Performance RatingSee legal pack.
TenureFreehold – Subject to the existing tenancy.
Tenancy DetailsThe property is let to Specsavers on a 10 year lease from 17/4/2015, expiring on 16/4/2025 at a passing rent of £31,000 per annum.
Value Added TaxWe are informed that VAT will be applicable on this transaction.
Tenant ProfileSpecsavers has over 1650 stores throughout the world including New Zealand, Australia, Netherlands and Denmark. In the UK they have 686 stores and total revenue for the Group for the year end 2012/13 was nearly £1.7bn.
ViewingsStrictly by appointment with the Auctioneers.
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.