Available
Birmingham – Boots Pharmacy & Ground Rent
1 Middlemore Road, Northfield, Birmingham B31 3UDFreehold Retail & Residential Ground Rent Investment
Price
£175,000
Rent P.A.
£8,900
Yield
5.09%
Tenure
Freehold
Lease Term
Term of Years
Years Left on Lease
2y 4m
Area
861 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop and residential flat above (sold-off)
- Property benefits from outdoor space at front suitable for retail/parking use and advertising board on the side wall, currently let to an advertising company
- Situated within 2 min walk from Northfield Train Station and nearby occupiers including Post Office, Convenience Store, Texaco Filling Station and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor retail premises t/a Boots pharmacy with residential flat above which has been sold-off on long leasehold. The property provides the following accommodation and dimensions:
Ground Floor: 80 sq m (861 sq ft)
Open plan retail, Ancillary, Kitchenette, WC
First/Second Floor: Residential Flat (sold-off)
Ground Floor: 80 sq m (861 sq ft)
Open plan retail, Ancillary, Kitchenette, WC
First/Second Floor: Residential Flat (sold-off)
Tenancy Description
The retail shop is at present let to Boots UK Limited for a term years expiring 9th May 2027 at a current rent of £8,900 p.a. and the lease contains full repairing and insuring covenants. Tenant in occupation since 2011.
Flat No.1A has been sold off on long leasehold for a term of 99 years from 25th March 2000 at a ground rent of £150. Reversion March 2099 (75 years unexpired).
The advertising board is currently let at £150 p.a.
Flat No.1A has been sold off on long leasehold for a term of 99 years from 25th March 2000 at a ground rent of £150. Reversion March 2099 (75 years unexpired).
The advertising board is currently let at £150 p.a.
Tenancies & Accommodation
Location Description
Northfield is a residential area in outer south Birmingham, England, and near the boundary with Worcestershire, which it was historically within. The property is situated within 2 min walk from Northfield Train Station and nearby occupiers including Post Office, Convenience Store, Texaco Filling Station and more.
