City Centre Retail Investment
City Centre Retail Investment
The property is prominently situated in a very busy commercial location on the west side of New Town Row, north of the city centre and close to the junction of the A4540 which links directly to the A38(M), approximately 300 metres from the
property. Birmingham Snow Hill Station is located some 0.5 miles south of the
property. Neighbouring occupiers include Speedy Hire and Floors 2 Go.
Long Leasehold. Long Leasehold. Held for a term of 125 years from January 2013 at an initial rent of £30,000 per annum exclusive. The headlease provides for the rent to increase every 10th year by 2% per annum compounded.
The property is prominently situated in a very busy commercial location on the west side of New Town Row, north of the city centre and close to the junction of the A4540 which links directly to the A38(M), approximately 300 metres from the
property. Birmingham Snow Hill Station is located some 0.5 miles south of the
property. Neighbouring occupiers include Speedy Hire and Floors 2 Go.
Long Leasehold. Long Leasehold. Held for a term of 125 years from January 2013 at an initial rent of £30,000 per annum exclusive. The headlease provides for the rent to increase every 10th year by 2% per annum compounded.
The property comprises a substantial city centre ground floor trade counter with
significant frontage to New Town Row and forms part of a larger building. The property benefits from an undercroft loading bay and customer car parking.
VAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a substantial city centre ground floor trade counter with
significant frontage to New Town Row and forms part of a larger building. The property benefits from an undercroft loading bay and customer car parking.
VAT is not applicable to this lot.
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 | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground |
Retail | 1,031.97 sq m |
(11,108 sq ft) |
IMPERIAL CHEMICAL INDUSTRIES LTD (1) |
20 years from 21/09/2001 |
£131,702 |
2016 (2) |
| Totals | 1,031.97 sq m |
(11,108 sq ft) |
£131,702 rising to a minimum of £152,679 in 2016 |
||||
(1) Imperial Chemical Industries Limited are ultimately owned by Akzo Nobel NV. For the year ending 31st December 2011, Imperial Chemical Industries Limited
reported a turnover of £435,000,000, pre-tax profits of negative £36,000,000 and a net worth of £3,534,000,000 (Source: www.riskdisk.com). The tenant has offered to take a new 15 year lease with no break clause.
(2)The lease provides for the rent to be increased to the higher of 140% OMRV or 3% per annum compounded, therefore the rent will increase to a minimum of
£152,679 per annum exclusive on 21st September 2016.
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