Acocks Green is a busy and popular urban suburb located approximately 4 miles South of Birmingham City Centre. The property is approximately located in a predominantly residential road. Nearby retailers include KFC, Greggs, Boots the Chemist, Superdrug, Morrisons, Lidl, Aldi, Tesco, NatWest, Halifax, Lloyds Pharmacy.
Acocks Green is a busy and popular urban suburb located approximately 4 miles South of Birmingham City Centre. The property is approximately located in a predominantly residential road. Nearby retailers include KFC, Greggs, Boots the Chemist, Superdrug, Morrisons, Lidl, Aldi, Tesco, NatWest, Halifax, Lloyds Pharmacy.
Tenure
Freehold.
Description
The property comprises a single-story roadside car servicing centre that benefits from a forecourt and approximately 8 car parking spaces at the front.
VAT
VAT is applicable to this lot.
Completion Period
Completion 31st October
EPC
Band C
Description
The property comprises a single-story roadside car servicing centre that benefits from a forecourt and approximately 8 car parking spaces at the front.
VAT
VAT is applicable to this lot.
Completion Period
Completion 31st October
EPC
Band C
Tenancy & Accommodation
Floor
Use
Gross Internal Floor Areas Approx sq m
Gross Internal Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Annual Rent Reviews
Ground
Workshop/Office
444.08
(4,780)
HALFORDS AUTOCENTRES LIMITED (2)
40 years (less 1 day) from 19/08/1996 on a full repairing and insuring lease (1)
£59,810.92 (3)
29/09/2022 and annually thereafter (3)
Total
444.08
(4,780)
£59,810.92 (3)
(1) The property is let by way of 35 year lease (less 1 day), from 19/08/1996, expiring on 17/08/2031. The lease is subject to a landlord option to renew to be exercised at any time for a term of 5 years and 1 day from 18/08/2031. The lease is also subject to a tenant option to renew for a term of 5 years and 1 day to be exercised at any time on or after 18/08/2030 - please see lease (2) Halfords Autocentres Limited is one of the UK’s leading MOT, car servicing, repairs and tyre specialists. The company services hundreds of thousands of vehicles every year across a network of over 600 Autocentres nationwide (www.blog.halfords.com 30/08/2022) (3) The lease is subject to uncapped, annual RPI-linked rent reviews on 29th September each year. The lease allows for an increase in the passing rent to the higher of 2% and the 12-month RPI % for the month of July. The current rent passing under the terms of the lease is £53,240.98 p.a. from September 2021, but this will rise to £59,810.92 p.a. from 29/09/2022 (July RPI figure 12.34%) - please see lease.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
