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Agent's details

2-3 Great Hampton Street, B18

For sale: £390,000.00|2,417 Sq Ft|Leisure Property, Office, General Retail, Licensed & Leisure, Offices, Retail

Property details

FOR SALE£390,000.00
SIZE2,417 Sq Ft
ADDRESS2-3 Great Hampton Street, Jewellery Quarter, Birmingham, B18 6AQ
TYPELeisure Property, Office, General Retail, Licensed & Leisure, Offices, Retail
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON16th February 2024

Description

Summary

A Historic and Prominent Commercial Premises Close to the Jewellery Quarter and Birmingham City Centre, Currently Let on a 15-year Lease.

Description

The property comprises a mid-terrace commercial unit with extensive frontage to Great Hampton Street.

The frontage has been carefully refurbished to provide two self-contained entrances with double glass frontages and feature woodworking providing a character aesthetic to the mixed-use block.

Internally the property has been opened to provide commercial space with rear extension opening into a courtyard and benefiting from full height crittall windows with integral pedestrian door.

Velux windows provide additional light to the rear and many character feature remain including exposed brick walls, concrete flooring, and structural steel pillars.

Location

The property occupies a prominent roadside position with substantial frontages to both Great Hampton Street and Great Hampton Row just outside of Birmingham City Centre and within Close Proximity to St Pauls Square and Birmingham’s historic Jewellery Quarter.

The location allows for convenient access to Snow Hill Train Station is just a seven-minute walk, while Birmingham New Street is a short 15-minute walk.

As well as being within walking distance of the city’s major public transport routes, the main Aston expressway is just one mile east of the property, allowing easy access to Junction 6 of the M6 Motorway at Spaghetti Junction.

The street is due to be narrowed down and the junction is anticipated to be changing to “Hampton Square” according to the Birmingham City Plan. The Gothic is a key property development on the edge of the historic Jewellery Quarter and will spearhead the future regeneration of the wider Great Hampton Street area.

Accommodation

Ground Floor - 1,362 ft2 (126.53 m2)

Basement - 1,055 ft2 (98.01 m2)

Total - 2,417 ft2 (224.54 m2) approximately

Tenure

The property is held long leasehold (999 years at peppercorn rental).

Tenancy

The property is let to Dark Blue Café Limited on a 15-year lease from 1st April 2023.

The rent is £31,194 per annum exclusive payable monthly and is reviewable 5 yearly to open market value with break options at years 5 and 10.

Pricing

Offers in excess of £390,000 are sought, subject to contract reflecting NIY of 7.78% (when assuming purchasers’ costs of 2.81%) and a low underlying Capital Value of £198.00 ft2.

VAT

All prices quoted are exclusive of VAT.

However, it is envisaged the sale will be treated as a TOGC.

Energy Performance Certificate (EPC)

Energy Performance Certificate (EPC) Available upon request.

Money Laundering

The money laundering regulations require identification checks are undertaken for all parties purchasing/leasing property.

Before a business relationship can be formed, we will request proof of identification for the purchasing/leasing entity.

Legal Costs

Each party are to be responsible for their own legal fees incurred during this transaction.

Viewings and Further Information

Viewings and further information strictly via the sole selling agent Siddall Jones.

Location

marker
Location: 2-3 Great Hampton Street, Jewellery Quarter, Birmingham, B18 6AQ

Jewellery Quarter (0.3 miles)

Birmingham Snow Hill (0.6 miles)

Birmingham New Street (0.8 miles)

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