Comprises 5 retail units and 7 self-contained residential flats above
Includes tenants trading as Post Office and Lloyds Pharmacy
Unbroken parade
Prominent corner location in popular Birmingham suburb
Nearby occupiers include Coral and Greggs
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 44
Auction 25th May 2017
Rent £100,480 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles east of Birmingham City Centre
Roads
M6, M42
Rail
Stechford Railway Station
Air
Birmingham Airport
Situation
Stechford is a popular Birmingham suburb some 7 miles east of Birmingham City Centre. The property is situated in a prominent position at the junction of busy Audley Road and Glebe Farm Road. Nearby occupiers include Coral and Greggs.
Tenure
Freehold.
Location
Miles
7 miles east of Birmingham City Centre
Roads
M6, M42
Rail
Stechford Railway Station
Air
Birmingham Airport
Situation
Stechford is a popular Birmingham suburb some 7 miles east of Birmingham City Centre. The property is situated in a prominent position at the junction of busy Audley Road and Glebe Farm Road. Nearby occupiers include Coral and Greggs.
Tenure
Freehold.
Description
The property comprises an unbroken parade of five ground floor retail units with seven self-contained residential flats on the first floor which are accessed off Audley Road.
VAT
VAT is 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 an unbroken parade of five ground floor retail units with seven self-contained residential flats on the first floor which are accessed off Audley Road.
VAT
VAT is 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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
1/1A Audley Road
Ground
Retail
128.20 sq m
(1,380 sq ft)
INDIVIDUALS t/a Double Save Supermarket
30 years from 04/07/2007 until 2037
£18,500
04/07/2017 and five yearly
8 Glebe Farm Road
Ground
Retail
128.88 sq m
(1,387 sq ft)
MC & M PARMER (ON ASSIGNMENT FROM T & S STORES PLC, A SUBSIDIARY OF TESCO PLC) t/a Post Office (1)
30 years from 29/09/1990
£12,000
(28/09/2020)
10 Glebe Farm Road
Ground
Retail
215.40 sq m
(2,319 sq ft)
A & J LLOYD INVESTMENTS t/a Lloyds Pharmacy (2)
15 years from 24/06/2006
£23,000
(23/06/2021)
12 Glebe Road
Ground
Retail
46.70 sq m
(503 sq ft)
INDIVIDUAL t/a Glebe Farm Butchers
10 years from 19/03/2015 (3)
£9,000 Rising by £500 p.a.x. to £10,000 in 2019
19/03/2020 (18/03/2025)
First
Residential
3 x 3 bedroom flats 4 x 2 bedroom flats
INDIVIDUALS
Let on Separate Assured Shorthold Tenancies
£37,980
Total Commercial Area
519.18 sq m
(5,589 sq ft)
£100,480
(1) T&S Stores Limited formerly T&S Stores Plc, are a subsidiary of Tesco Plc. For the year ending 27th February 2016, T&S Stores Limited reported a total net worth of £573,589,000 (Source: Experian Group 25/04/2017). (2) Lloyds Pharmacy is one of UK's largest community pharmacy chains, with more than 1,800 pharmacies across the country (Source: www.lloydspharmacy.com 25/04/2017) (3) The tenant is not currently trading from the property.
