Commercial Property
False
The property occupies a prominent corner position within a well established, busy and popular local shopping area within the suburb of Kingstanding. There is a good mix of local retailers together with multiple operators including Halifax, Boots, Coral, Ladbrokes and Mecca all within close proximity.
The property is considered to occupy an excellent catchment area for trade for its existing use.
The property comprises a two storey part single storey end of terrace of brick construction with a pitched tiled roof and part flat felted roof. It provides on the ground floor a modern retail unit occupied by Greggs, with preparation area, stores, office, staff room and WC's extending to approximately 880 sq.ft. (81.80 sq.m.). On the first floor and having a separate front door entrance is a self-contained flat comprising a bedroom, lounge, kitchen and bathroom.
We have not had access to the flat.
A Freehold Retail Investment Let to Greggs Plc with a Residential Investment Over. Situated within a busy Neighbourhood Parade
Rent Passing: £15,700pa
We understand that the property is Freehold, subject to the following tenancies:-
625 Kingstanding Road
Ground floor retail unit let to Greggs Plc for a term of 10 years with effect from the 24th June 2010, with provision for a rent review on the 24th June 2015, and let at a current rent of £11,500 per annum.
625a Kingstanding Road
A first floor flat let by way of an Assured Shorthold Tenancy for a term of 12 months with effect from the 2nd November 2013 at a rent of £4,200 per annum. The tenant is currently holding over.
Copies of the Leases 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.
