111 Westley Road Acocks Green Birmingham West Midlands B27 7UW

111 Westley Road
Acocks Green
Birmingham
West Midlands
B27 7UW

Freehold Roadside Investment with annual uncapped RPI Rent Reviews

Let to Halfords Autocentres Limited
Lease expires August 2036 (no breaks) (1)
Annual UNCAPPED RPI-linked rent reviews
Approximately 4,780 sqft on a 0.4 acre site
Tenant in occupation since 2003
Future Residential change of use potential (subject to lease and consents)

Lot
8
Auction
22nd September 2022
Rent
£59,810 per Annum Exclusive
(3) rising annually
Status
Sold
Price
£1,130,000
Auction Venue
Live Streamed Auction
Octopus Bridging Loan
To be confirmed

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Freehold Roadside Investment with annual uncapped RPI Rent Reviews

Let to Halfords Autocentres Limited
Lease expires August 2036 (no breaks) (1)
Annual UNCAPPED RPI-linked rent reviews
Approximately 4,780 sqft on a 0.4 acre site
Tenant in occupation since 2003
Future Residential change of use potential (subject to lease and consents)

Lot 8
Auction 22nd September 2022
Rent £59,810 per Annum Exclusive (3) rising annually
Status Sold
Price £1,130,000
Sector
Industrial, Warehouse
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 4 miles south of Birmingham City Centre
Roads: A34, A38, A4040, A41, A45, M6 (Junction 6), M42 (Junction 5)
Rail: Acocks Green and Spring Road Railway Station
Air: Birmingham International Airport

Situation

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.

Location

Miles: 4 miles south of Birmingham City Centre
Roads: A34, A38, A4040, A41, A45, M6 (Junction 6), M42 (Junction 5)
Rail: Acocks Green and Spring Road Railway Station
Air: Birmingham International Airport

Situation

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.