Includes self-contained two/three bedroom duplex on first and second floors
Important Rent Review outstanding with notice recently served at £21,500 per annum
Tenant break option not exercised in 2017
Established retail parade in popular Birmingham suburb
VAT-free Investment
Lot 32
Auction 24th May 2018
Rent £11,500 per Annum
Status Sold
Price £192,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles south-west of Birmingham, 19 miles north-east of Worcester
Roads
A38, M5 (Junction 4), M42
Rail
Northfield (18 minutes to Birmingham New Street)
Air
Birmingham International Airport
Situation
The property is located in one of Birmingham’s largest suburbs, 6 miles south-west of the City Centre. The property is situated on the western side of Bristol Road South, a principal arterial route connecting Birmingham with the M5 motorway. The property is located in an established retail parade along with a number of independent retailers, with other nearby occupiers include One Stop convenience store. Longbridge Railway Station is a short walk away.
Tenure
Freehold.
Location
Miles
6 miles south-west of Birmingham, 19 miles north-east of Worcester
Roads
A38, M5 (Junction 4), M42
Rail
Northfield (18 minutes to Birmingham New Street)
Air
Birmingham International Airport
Situation
The property is located in one of Birmingham’s largest suburbs, 6 miles south-west of the City Centre. The property is situated on the western side of Bristol Road South, a principal arterial route connecting Birmingham with the M5 motorway. The property is located in an established retail parade along with a number of independent retailers, with other nearby occupiers include One Stop convenience store. Longbridge Railway Station is a short walk away.
Tenure
Freehold.
Description
The property comprises a ground floor shop with a self-contained two/three bedroom duplex arranged on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor shop with a self-contained two/three bedroom duplex arranged on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First/Second
Retail/Ancillary Two/Three Bedroom Flat with kitchen, living room and bathroom
95.13 sq m -
(1,024 sq ft) (-)
WILLIAM HILL ORGANIZATION LIMITED (1)
15 years from 29/09/2007 on a full repairing and insuring lease
£11,500 (2)
29/09/2017 (2) (28/09/2022)
Total
95.13 sq m
(1,024 sq ft)
£11,500 (2)
1) For the year ending 27th December 2016, William Hill Organization Limited reported a turnover of £879,000,000, pre-tax profits of £223,500,000 and net assets of £134,300,000 (Source: Experian Group 24/04/2018). The tenant sublets the residential accommodation above. (2) Notice has recently been served proposing a revised rent of £21,500 per annum.
