Commercial Property
The property occupies a prominent corner position fronting Birmingham Road at its junction with Broadfields Road in Wylde Green, Sutton Coldfield. The main frontage is to Birmingham Road, which forms part of the main A5127, and the property forms part of a busy parade of shops, professional offices and other amenities. Wylde Green is regarded as a popular and attractive residential suburb forming part of Sutton Coldfield.
Sutton Coldfield is located approximately 7 and a half miles northeast of Birmingham city centre and 7 and a half miles southwest of Tamworth. The main route into the town is the A5127 which leads from junction 6 of the M6 motorway and heads north through to Lichfield. Access to the M6 toll road is approximately 4 miles from Sutton Coldfield via the A38, which provides access to the regional motorway network via junction 6 of the M6 motorway approximately 5 miles to the southwest.
On Behalf of Fixed Charge Receivers
Living Accommodation
Occupier Information
The four self contained flats comprise flats 1-3 having one bedroom and flat 4 having two bedrooms, each flat has a kitchen, bathroom and living area and are considered to be well presented throughout.
Loungers Limited are a national restaurant/bar operator with 49 sites throughout the country and continue to expand with four further sites opening soon. The latest filed accounts as at 28th April 2013 show a turnover of £22,148,754 and pre-tax profit of £1,053,397. They have a 3 star Delphi Rating with a below average risk of failure.
The property comprises a prominent brick built end of terrace two storey property, which has been extended into the roof space creating a third floor and has a part single, part two storey extension to the rear. The original building has a pitched and tiled roof whilst the rear extension has a flat roof.
At ground floor level there is Verdo Lounge, a well presented restaurant and bar which is fitted out to a high standard.
Internally the property includes wooden floor coverings, plastered and papered walls, feature lighting. As part of the A3 use there is a fully fitted commercial kitchen, food store/cold store, chilled cellar and male, female and disabled WC's.
Outside there is a seating area to the front.
At first and second floor levels there are four well presented self contained flats. We understand that flats 1-3 have one bedroom and flat 4 has two bedrooms. The flats are accessed from the rear via an external staircase and shared terrace area, the flats benefit from a car park with each flat having an allocated car parking space.
A Prominent Freehold Mixed Commercial and Residential Investment Property
Current Rent Passing: £70,960 pa
We understand that the property is Freehold subject to the highlighted tenancy details.
Copies of the Lease documentation will be available for inspection within the legal pack.
We understand that VAT will be chargeable on this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
