Acquired
West Bromwich – Shop with Future Development Potential
248 Duchess Parade, High Street, West Bromwich B70 7QGFreehold Retail Investment with Future Development Potential
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
6y 2m
Area
1,157 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises ground floor retail shop t/a Nail Salon with ancillary accommodation at first floor.
- Future residential development potential, subject to obtaining the necessary consents.
- Total area size 107.40 sq m (1,157 sq ft)
- Pedestrianised town centre location
- Occupiers nearby include McDonalds, Nationwide, Santander, Halifax, Betfred, New Look and Home Bargains, amongst many more.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises ground floor retail shop with ancillary accommodation at first floor and benefits from having separate access at rear. Future development potential to convert first floor ancillary to residential accommodation, subject to obtaining the necessary consents.
The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop 76.10 sq m (820 sq ft)
First Floor: Ancillary 31.30 sq m (337 sq ft)
Total area size: 107.40 sq m (1,157 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop 76.10 sq m (820 sq ft)
First Floor: Ancillary 31.30 sq m (337 sq ft)
Total area size: 107.40 sq m (1,157 sq ft)
Tenancy Description
The property is at present let to an Individual t/a RoNa Nails for a term of 10 Years from 12th March 2021 at a current rent of £15,000 per annum and the lease contains full repairing and insuring covenants. Rent review and tenant option to determine on 12th March 2026.
Tenancies & Accommodation
Location Description
West Bromwich is a large market town in the borough of Sandwell, West Midlands, England. The M5 motorway between the West Midlands and the West Country and its junction with the M6 motorway passes through the town, making West Bromwich at the hub of Britain's motorway network. The nearest airport which is approximately 16 miles (26 km) away, is Birmingham Airport, which can be reached by tram to Birmingham New Street and train to Birmingham International. West Bromwich has a large bus station managed by Transport for West Midlands and served by a large number of routes, both locally to places such as Oldbury, Smethwick and Stone Cross as well as regional bus routes to places such as Birmingham, Wolverhampton and Walsall. The properties occupy a prominent position on the southern side of the pedestrianised High Street, in close proximity to Queens Square and Kings Square Shopping Centres housing retailers including Poundland, Boots the Chemist, Greggs, Superdrug, Iceland and H Samuel. Other nearby retailers include McDonald’s, Farmfoods and Heron Foods. Car parking with over 820 car parking spaces is nearby.