Long Leasehold Office Investment
Long Leasehold Office Investment
The property is located in Sutton Coldfield town centre on Victoria Road, close to its junction with Lower Queen Street. Victoria Road multi storey car park is located close by and Gracechurch Shopping Centre is approximately 200 metres to the north-west. Sutton Coldfield railway station is 400 metres to the north. Nearby occupiers include HCB Solicitors, Central Law Training, Hydrop, Inform Accounting, TGI Fridays, TK Maxx and Halfords.
Long Leasehold. Held from Birmingham City Council for a term of 125 years (less 10 days) from 11th November 1988 (approximately 95 years unexpired) at a peppercorn rent.
The property is located in Sutton Coldfield town centre on Victoria Road, close to its junction with Lower Queen Street. Victoria Road multi storey car park is located close by and Gracechurch Shopping Centre is approximately 200 metres to the north-west. Sutton Coldfield railway station is 400 metres to the north. Nearby occupiers include HCB Solicitors, Central Law Training, Hydrop, Inform Accounting, TGI Fridays, TK Maxx and Halfords.
Long Leasehold. Held from Birmingham City Council for a term of 125 years (less 10 days) from 11th November 1988 (approximately 95 years unexpired) at a peppercorn rent.
The property provides a four storey office building and benefits from four car parking spaces. The tenant occupies the adjoining Unit No.5. The tenant has made alterations so that units 4 & 5 interconnect. Unit 5 is not included in the sale.
VAT is applicable to this lot.
The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Birmingham City Council. www.birmingham.gov.uk
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
The property provides a four storey office building and benefits from four car parking spaces. The tenant occupies the adjoining Unit No.5. The tenant has made alterations so that units 4 & 5 interconnect. Unit 5 is not included in the sale.
VAT is applicable to this lot.
The property may benefit from conversion to residential use, subject to the current occupation and the necessary consents/permissions. Interested parties are referred to Birmingham City Council. www.birmingham.gov.uk
Six Week Completion
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review/ (Reversion) |
|
|---|---|---|---|---|---|---|---|
| Lower Ground Ground First Second |
Office Office Office Office |
34.7 sq m 95.1 sq m 95.1 sq m 68.5 sq m |
(373 sq ft) (1,024 sq ft) (1,024 sq ft) (737 sq ft) |
WAA CHOSEN LIMITED (1) |
8 years from 08/07/2015 (2) on a full repairing and insuring lease |
£32,500 | 2020 (2023) (2) |
| Total |
293.4 sq m |
(3,158 sq ft) |
£32,500 | ||||
(1) For the year ended 31st December 2016, WAA Chosen Limited reported a turnover of £2,677,029, pre-tax profits of £201,745 and a total net worth of £421,361 (Source: Experian 12/01/2018). Website: www.waachosen.co.uk
Founded in 1986, WAA Chosen Limited is one of the UK’s most respected independent [marketing and advertising agencies] (Source: www.waachosen.co.uk).
(2) Tenant’s option to break in 2020 upon 6 months’ prior written notice.
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