Acquired
Erdington – Two Shops & Four Flats
177A-179 High Street, Erdington, Birmingham, West Midlands B23 6SYFreehold Shops and Residential Investment
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
2m
Area
7,310 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Occupying a prominent trading position in the heart of the town centre
- Ground Floor comprising 2 shops
- First and Second Floors comprising 4 Self-Contained Flats with separate rear access
- The property benefits of Rear Car Park
- Occupiers close by include Nationwide, Betfred, Poundland, Holland & Barrett, EE and Specsavers
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
A terraced building located on a prominent trading position in the heart of the town centre, comprising 2 Ground Floor Shops with separate rear access to 4 Self-Contained Flats on first and second floor levels. The property also includes a Rear Car Park.
Tenancy Description
No. 177A is currently let to Midas Pet Products Limited (Pet Centre) for a term of 15 years from 18th February 2010 at a current rent of £20,000 per annum and the lease contains effectively full repairing and insuring covenants.
No. 179 is currently let to AM 2 PM Group Holdings (Recruitment Agency) for a term of 5 years and 6 months from 26th February 2019 at a current rent of £24,000 per annum and the lease contains effectively full repairing and insuring covenants.
First floor, Flat 1 flat is at present let on an AST to an individual for a term of 6 months from 5th February 2020 at current rent of £8,400 per annum.
First floor, Flat 2 flat is at present let on an AST to an individual for a term of 6 months from 1st February 2020 at current rent of £8,400 per annum.
Second floor, Flat 3 flat is at present let on an AST to an individual for a term of 12 months from 3rd February 2020 at current rent of £6,600 per annum.
Second floor, Flat 4 flat is at present let on an AST to an individual for a term of 6 months from 14th February 2020 at current rent of £8,400 per annum.
No. 179 is currently let to AM 2 PM Group Holdings (Recruitment Agency) for a term of 5 years and 6 months from 26th February 2019 at a current rent of £24,000 per annum and the lease contains effectively full repairing and insuring covenants.
First floor, Flat 1 flat is at present let on an AST to an individual for a term of 6 months from 5th February 2020 at current rent of £8,400 per annum.
First floor, Flat 2 flat is at present let on an AST to an individual for a term of 6 months from 1st February 2020 at current rent of £8,400 per annum.
Second floor, Flat 3 flat is at present let on an AST to an individual for a term of 12 months from 3rd February 2020 at current rent of £6,600 per annum.
Second floor, Flat 4 flat is at present let on an AST to an individual for a term of 6 months from 14th February 2020 at current rent of £8,400 per annum.
Tenancies & Accommodation
Location Description
Erdington lies approx. 5 miles north-east of Birmingham city centre and benefits from excellent road links. Important roads that access the area include A38 (Birmingham to Derby road), A5127 (Gravelly Hill) and the A47 Spine Road. The M6 motorway forms the southern border of the district, with connections at Junction 6 (Gravelly Hill Interchange). There is a well-established network of bus routes through Erdington with connections to Birmingham city centre and Sutton Coldfield.
