property
The property is situated withn the popular and well established neighbourhood shopping area of Glebe Farm Road, Stechford. Within the vicinity there is a good mix of local retailers, together with a number of national operators including Greggs, Coral, Lloyds Pharmacy and The Post Office.
Glebe Farm Road lies within the densely developed suburb of Stechford, which lies approximately 7 miles east of Birmingham City Centre.
The property comprises a two storey mid terraced building of brick and tile construction, standing within a parade of similar properties. The ground floor comprises a modern convenience store, extending to approximately 949 sq.ft. (88.20 sq.m). On the first floor, we understand there is further accommodation accessd from the rear. Access to this was not possible at the time of our inspection.
A Freehold Retail Investment in Neighbourhood Parade.
Current Gross Income: £21,000 per annum.
We understand that the property is Freehold, subject to a Lease for 26 years with effect from 28th July 2006, on a full repairing and insuring basis. There is a rent review every 3 years and we understand that at the last review in July 2012, the rent was increased to £21,000 per annum.
We have not had sight of the Lease, but a copy will be available within the legal pack.
VAT will not be chargeable on this transaction.
Strictly by arrangement with the Auctioneers. For further details, please contact Ian Tudor on 0121 237 4850.
