property
The property occupies are prominent frontage to the eastern side of the A4034 Long Lane, within Blackheath Town Centre, close to its junction with Park Street West. The property is situated within a densely developed commercial and retail environment, with a good mix of local retailers and a number of national operators including a new Sainsburys Superstore and recently developed Lidl Food Store. Blackheath lies approximately 8½ miles west of Birmingham City Centre and 4½ miles south of Dudley Town Centre.
The property comprises a prominent and spacious mid terraced unit, believed to have been originally constructed as a cinema, of brick construction with an artificial slate roof.
The property is divided internally to provide a sales area, storage, ancillary kitchen, offices, staff wcs, whilst there is a rear car park.
We have only had access to the part of the property relating to the business comprising the main retail area and storage areas, which extend to approximately 2,135 sq.ft. There are further void storage areas to the rear and basement.
A Freehold Town Centre Retail Investment
Current Rental Income: £22,000 pa
We understand that the property is Freehold, subject to a Lease in favour of MTD Trading Ltd, as Enfranchise for Cash Converters UK Ltd, for a term of 10 years commencing on 17th May 2010, at a rental of £22,000 per annum. The Lease is on a full repairing and insuring basis and there is a provision for a rent review at the end of year 5.
A copy of the Lease is available for inspection within the legal pack.
We understand that VAT will be chargeable on this transaction.
Viewings are strictly by arrangement with the Auctioneers.
For further details, please contact Ian Tudor on 0121 237 4850.
