Retail Property (high street)
Please note that pre-auction offers will not be considered for this Lot.
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The property occupies a prominent position fronting the southern side of Alum Rock Road, set within a parade of similar properties, lying between Edmund Road and the main Bowyer Road and Highfield Road junction. The property is situated within the heart of the main Alum Rock shopping area, where there is a varied mix of local retailers and other commercial uses, together with national operators, which within the immediate vicinity include Greggs, TSB Bank and Betfred.
Alum Rock Road is a busy local route throughout the day, running between Saltley Gate and Washwood Heath Road. Alum Rock is a densely developed suburb lying approximately 2 miles east of Birmingham city centre.
The property comprises a two storey mid terrace, of brick construction providing a spacious ground floor split level retail unit, currently used as a homeware store, being well presented and having a roller shutter grille to the frontage. On the first floor, there is a store room and WC.
Commercial Investment
A Freehold Retail Investment within a Popular and Busy Parade
Current Gross Income: £14,000 pa.
We understand that the property is Freehold, subject to a Lease for 15 years, with effect from 25th March 2015, at a rental of £14,000 per annum. There are 5 yearly rent reviews and a tenant's option to break at year 10.
We have not had sight of the legal documentation, however a copy of the Lease will be available within the legal pack.
VAT maybe chargeable on this transaction. All interested parties must obtain their own verification by referring to the legal pack and are also advised to obtain specialist advice in this respect.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
