Investment Consideration:
Gross Initial Yield: 10.34%
Rental Income: £15,000 p.a.
VAT is applicable to this property
Comprises mid-terrace ground floor shop t/a Book Store
Situated in the town centre, on the west side of Bearwood Road, in between Anderson Road and Adkins Lane, with occupiers close by including Aldi, Holland & Barrett, Costa Coffee, Peacocks, Costa Coffee, Iceland and the Bearwood Shopping Centre.
Property Description:
Comprises mid-terrace ground floor shop providing the following accommodation and dimensions:
Ground Floor: 92 sq m (969 sq ft)
Open plan retail, storage, ancillary, wc
Tenancy:
The property is at present let to Bear Bookshop Ltd for a term of 5 years from 1st October 2020 at a current rent of £15,000 p.a. and the lease contains full repairing and insuring covenants. Tenant break option in 2023 NOT exercised. Deposit held of £3,000.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.
Location:
Birmingham is the administrative centre of the West Midlands serving a population of some 1 million and is located at the heart of the national motorway network. Smethwick is a popular town located approximately 4 miles west of Birmingham city centre. The property is situated in the town centre, on the west side of Bearwood Road, in between Anderson Road and Adkins Lane. Occupiers close by include Aldi, Holland & Barrett, Costa Coffee, Peacocks, Costa Coffee, Iceland and the Bearwood Shopping Centre.
