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 with a slate roof. It provides on the ground floor a split level retail area, currently used as a home entertainment store, being well presented and having a roller shutter grille to the frontage. On the first floor, there is living accommodation, however we have not been able to inspect this, but understand it comprises three rooms, kitchen and shower room.
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 new 15 year Lease from August 2015, at a rental of £14,000 per annum. There are 5 yearly rent reviews and a tenant's option to break in 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.
