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For Sale£1,700,000.00

Ulleries Road, Solihull, B92 8DS

Other, Other Property Types & Opportunities , 13181 - 21473 Sq Ft
Property type: Other, Other Property Types & Opportunities
Tenure: For Sale Freehold
Size: 13181 - 21473 Sq Ft
Price: £1,700,000.00
Location: Ulleries Road, West Midlands, Solihull, B92 8DS
The property was constructed by St Modwen in 2001 and comprises a steel portal frame building with brick elevations to approx. 3 metres and cladding above. The tenant has fully fitted out the property as a gym, including the installation of a mezzanine floor. The property has been measured on a GIA basis and extends to approximately 13,181 sq ft (1,224.5 sq m) with a mezzanine extending to 8,292 sq ft (770.41 sq m) GIA. The property is let to Fitness First Clubs Limited for a term of 25 years commencing on 24 June 2001 on FRI terms. The passing rent is £123,500 per annum (reflecting £9.37 per sq ft excluding mezzanine). Offers for the long leasehold interest are invited of £1,700,000 subject to contract and exclusive of VAT. A purchase at this level would represent a net initial yield of 6.84% after allowing for purchaser's costs of 6.18%.
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