No longer on the market
This property is no longer on the market
Map
Area statsIndustrial development
Under offer
Industrial development
9368
Features and description
- Vacant first floor
- Secure yard area
- 4 parking spaces
- Prominent retail pitch
- Income producing until September 2028 at £78,000 pa
- Seeking offers in excess of £950,000 reflecting a NIY of 7.77%.
Description
The property is mid terrace spread over ground and first floor, fronting Coventry Road, with vehicular access off Wordsworth Road. The orientation is of the property is dog legged in nature, enabling the property to benefit from a secure yard, roller shutter rear access and four parking spaces. Internally the ground floor has tiled floors, air conditioning, a cold food refrigerated counter, fluorescent strip lighting and glazed frontage. The first floor comprises vacant open plan accommodation with solid floors, sky lights and toilets.
Location
The subject property is situated on Coventry Road, a busy neighbourhood centre arranged as a linear retail pitch stretching for roughly a mile. The subject property is situated at the Southern edge of this pitch, close to Small Heath Park. National occupiers in the immediate area consist of Greggs, Post Office and Betfred, with a variety of local operators and service providers.
Situated in a prime retail pitch along Coventry Road, Small Heath, an area located approximately 2 miles south east of Birmingham city centre. Neighbouring districts include Alum Rock, approximately 1½ miles north west and Digbeth.
Transport links to the area are good, with nearby roads including the A4540 Outer Ring Road, and the A45 and A41, which both connect to the City Centre and the M42/M40. The nearest railway station is Small Heath, 0.5 miles south, which offers a regular service to Birmingham (Snow Hill) in approximately 7 minutes.
VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.
Legal Costs
Each party to be responsible for their own legal costs incurred in this transaction.
AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.
Tenancy & Accommodation
Ground floor is let to Sonali Supermarket (Birmingham) LTD
Passing Rent - £78,000
Lease Start -01/08/2018
Expiry Date - 01/09/2028
First Floor - Vacant
Proposal
We are instructed to seek offers in excess of £950,000 (nine hundred and fifty thousand pounds) which reflects a Net Initial Yield of 7.77% (allowing for purchaser' costs of 5.69%), or £101.41 per sq ft.
The property is mid terrace spread over ground and first floor, fronting Coventry Road, with vehicular access off Wordsworth Road. The orientation is of the property is dog legged in nature, enabling the property to benefit from a secure yard, roller shutter rear access and four parking spaces. Internally the ground floor has tiled floors, air conditioning, a cold food refrigerated counter, fluorescent strip lighting and glazed frontage. The first floor comprises vacant open plan accommodation with solid floors, sky lights and toilets.
Location
The subject property is situated on Coventry Road, a busy neighbourhood centre arranged as a linear retail pitch stretching for roughly a mile. The subject property is situated at the Southern edge of this pitch, close to Small Heath Park. National occupiers in the immediate area consist of Greggs, Post Office and Betfred, with a variety of local operators and service providers.
Situated in a prime retail pitch along Coventry Road, Small Heath, an area located approximately 2 miles south east of Birmingham city centre. Neighbouring districts include Alum Rock, approximately 1½ miles north west and Digbeth.
Transport links to the area are good, with nearby roads including the A4540 Outer Ring Road, and the A45 and A41, which both connect to the City Centre and the M42/M40. The nearest railway station is Small Heath, 0.5 miles south, which offers a regular service to Birmingham (Snow Hill) in approximately 7 minutes.
VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.
Legal Costs
Each party to be responsible for their own legal costs incurred in this transaction.
AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.
Tenancy & Accommodation
Ground floor is let to Sonali Supermarket (Birmingham) LTD
Passing Rent - £78,000
Lease Start -01/08/2018
Expiry Date - 01/09/2028
First Floor - Vacant
Proposal
We are instructed to seek offers in excess of £950,000 (nine hundred and fifty thousand pounds) which reflects a Net Initial Yield of 7.77% (allowing for purchaser' costs of 5.69%), or £101.41 per sq ft.
Property information from this agent
Area statistics
Crime score
High crime
10/10
About this agent
Vail Williams - Birmingham
Edmund House, 12-22 Newhall Street
Birmingham, West Midlands
B3 3EF
0121 721 9032Where great relationships yield the best property outcomes. Vail Williams is a national property adviser with ten offices based throughout the North, Midlands and South of England.