• High quality, manufacturer compliant dealership facility situated within an established commercial and out of town retail destination
• Prominently situated on the A452 Chester Road, approximately 5.4 miles (8.7 km) to the north east of Birmingham city centre
• Located within an extensive catchment area which forms a key territory for both the manufacturers and dealer network groups
• Purpose-built car showroom comprising a total of 18,278 sq. ft (1,698sq m) (includes extensive tenant improvements) situated on a 1.48 acre site
• Let to Volvo Car UK Limited for a term of 17 years from 26 July 2013, providing an unexpired term of approximately 8.8 years
• Passing rent of £200,000 per annum, equating to £15.11 per sq. ft (on the assumed lease area of 13,240 sq. ft)
• Two further rent reviews in 2023 and 2028, linked to the Retail Price Index (RPI), capped at 3% per annum
• Established manufacturer covenant with an annual turnover in excess of £1.4 billion (Dec 19)
• Freehold We are instructed to seek offers in excess of £3,250,000 (Three Million, Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 5.78%, assuming purchaser’s costs of 6.5%.
