Retail property (high street) for sale
Property description & features
- Tenure: Freehold
The property comprises a former high street bank premises which has recently been converted to provide a large coffee house and restaurant premises benefiting from substantial double frontage to the high street.
Location
The property is situated along Harborne High Street within the affluent Edgbaston constituency and lying approximately 3 miles Southwest of Birmingham City Centre.
Harborne is considered one of Birmingham’s wealthier suburbs with an abundance of bars, eateries and boutique retail outlets.
The subject property is located in the centre of the High Street with local occupiers including Slug & Lettuce, Harborne Kitchen, Pizza Express, Caffe Nero and Oliver Bonas.
Tenure
The property is held freehold.
Tenancy
The property is let to COFFEE TALES HARBORNE T/A COFFEE TALES LTD on a new 15-year lease from July 2023 at £50,000 per annum rising by £1,000 on each anniversary for the first two years and is reviewable 5 yearly to open market value.
Covenant
Coffee Tales currently trade from both Harborne and Jewellery Quarter having been in business for approximately 8 years.
Pricing
Offers in excess of £700,000 are sought, subject to contract reflecting NIY of 7.14% (based on £52,000 pa and assuming purchasers’ costs of 4%) and a low underlying Capital Value of £260 ft2.
VAT
All prices quoted are exclusive of VAT which we understand is not payable.
Energy Performance Certificate (EPC)
Energy Performance Certificate (EPC) 85 D
Money Laundering
The money laundering regulations require identification checks are undertaken for all parties purchasing/leasing property.
Before a business relationship can be formed, we will request proof of identification for the purchasing/leasing entity.
Legal Costs
Each party are to be responsible for their own legal fees incurred during this transaction.
Viewings and Further Information
Viewings and Further Information strictly via the sole selling agent Siddall Jones.
Property information from this agent
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Property reference 182691-1. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Siddall Jones - Birmingham.
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Broadband availability and predicted speed
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Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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