Sutton Coldfield

119
LOT
Sutton Coldfield
45/63 (odd)
Birmingham Road
West Midlands
B72 1QF
• Freehold Parade of Shops and
Residential Investment
• Affluent Birmingham suburb
• Comprises six shops, six selfcontained maisonettes and a
substation
• Large car park to the rear
• Good secondary location
• Asset management opportunity
• Rent Review from 2019 and
Reversions from 2016
• Total Current Rents Reserved
£205,510 pa
SIX WEEK COMPLETION
AVAILABLE
Tenure
Rear car park for some 57 spaces
Freehold.
Location
Sutton Coldfield, an affluent suburb of Birmingham with a population in
excess of 105,000, is located some 7 miles north-west of Birmingham. The
town is located on the A453, providing access to the M6 Motorway
(Junction 6) to the south and the M42 Motorway to the east.
The property is situated on the east side of Birmingham Road (A5127),
inbetween its junctions with Duke Street and While Road, close to the town
centre. The A5127 is a main arterial road linking the M6 Motorway and
A38(M) to Sutton Coldfield town centre.
Occupiers close by include RBS, William Hill, Iceland, Tesco Express and
Kwik-Fit amongst other local traders.
Planning
The rear car park may lend itself to future development for a variety of
uses, subject to obtaining all the necessary consents. All enquiries should
be referred to the local authority.
VAT
VAT is applicable to this lot.
Documents
The legal pack will be available from the website www.allsop.co.uk
Energy Performance Certificate
EPC Ratings 81-113 Band D-E (Copy available on website).
Description
The property is arranged on ground and two upper floors to provide six
shops over the ground floor with six self-contained maisonettes above. The
property provides car parking for 57 allocated cars to the front and rear.
The rear car park is accessed off Duke Street.
174
NB. The plan is for identification only. © Crown Copyright, ES 100004106
Prospective buyers are strongly advised to read the Auctioneers’ Notices Part One and Part Two and all applicable conditions of sale and addenda
Seller’s Solicitor Michael Twining, Gowling WLG. Tel: 03707 330609 e-mail: [email protected]
119
LOT
No.
Present Lessee
Accommodation (NIA)
Lease Terms
Current Rent
£ p.a.
Next Review/
Reversion
45/47 Birmingham Road Michaela Devlin Limited (1)
Ground Floor
124.90 sq m
(1,344 sq ft)
5 years from 08.06.2011 (1)
FR & I
£24,000 p.a.
Reversion 2016 (1)
49 Birmingham Road
NRG Industries Limited (2)
Basement and Ground Floor
243.60 sq m
(2,622 sq ft)
5 years from 24.06.2015
FR & I
£33,000 p.a.
Reversion 2020
51 Birmingham Road
Comfort Beds Furniture Bros Co Limited
Basement and Ground Floor
316.10 sq m
(3,403 sq ft)
5 years from 08.07.2014
FR & I
£35,000 p.a.
Reversion 2019
53 Birmingham Road
Save the Children Fund (3)
Basement and Ground Floor
135.80 sq m
(1,461 sq ft)
5 years from 31.01.2012
FR & I
£23,500 p.a.
Reversion 2017
55 Birmingham Road
Salvation Army Trading Company Limited (4) Basement and Ground Floor
139.80 sq m
(1,504 sq ft)
10 years from 15.10.2010
Rent review every 5th year
FR & I
£24,000 p.a.
Reversion 2020
Rent Review October
2015 (outstanding)
57 Birmingham Road
Donna Marie Freeman (Not in Occupation)
(5)
Basement and Ground Floor
211.80 sq m
(2,279 sq ft)
First and Second Floor Maisonette – 3 Rooms, Kitchen and Bathroom
10 years from 09.07.2014
Rent review every 5th year
FR & I
£24,000 p.a.
Rent Review 2019
Substation
The Midlands Electricity Board (6)
Substation
99 years from 25.12.1963
£10 p.a.
Reversion 2062
45A Birmingham Road
Individual
First and Second Floor Maisonette – 3 Rooms, Kitchen and Bathroom
Assured Shorthold Tenancy from 03.01.2016
£6,900 p.a.
47A Birmingham Road
Individual
First and Second Floor Maisonette – 3 Rooms, Kitchen and Bathroom
Periodic Tenancy from 04.09.2015
£6,600 p.a.
49A Birmingham Road
Individual
First and Second Floor Maisonette – 3 Rooms, Kitchen and Bathroom
Assured Shorthold Tenancy expiring 01.07.2016
£6,600 p.a.
51A Birmingham Road
Individual
First and Second Floor Maisonette – 4 Rooms, Kitchen and Bathroom
Assured Shorthold Tenancy from 20.01.2016
£7,500 p.a.
53A Birmingham Road
Individual
First and Second Floor Maisonette – 4 Rooms, Kitchen and Bathroom
Assured Shorthold Tenancy expiring 30.07.2016 (7)
£6,600 p.a. (7)
55A Birmingham Road
Individual
First and Second Floor Maisonette – 4 Rooms, Kitchen and Bathroom
Assured Shorthold Tenancy from 10.01.2016
£7,800 p.a.
NB. Not inspected by Allsop. Floor areas provided by the Vendor.
(1) The Landlord is holding a rent deposit of £6,000 including VAT. In addition, the seller is in negotiations with the tenant on renewing the lease. Negotiations are ongoing.
(2) For the year ended 31st December 2014, NRG Industries Limited reported a pre-tax profit of £14,346,000, shareholders’ funds and a net worth of £108,094,000. (Source: Experian 18.01.2016.)
(3) For the year ended 31st December 2014, Save the Children reported a nil turnover, a pre-tax profit of £14.346m and a net worth of £108.094m (Source riskdisc.com 20.04.2016)
(4) For the year ended 31st March 2015, Salvation Army Trading Company Limited reported a turnover of £44,109,819, a pre-tax profit of £1,099,890, shareholders’ funds of £16,013,380 and a net worth of
£8,416,659. (Source: Experian 18.01.2016.)
(5) The Landlord is holding a rent deposit of £8,850 including VAT. Please refer to legal pack for all arrears.
(6) Rolling Landlord break option subject to 3 months’ written notice in the event that the Tenant is no longer using the premises as an electrical transformer substation.
(7) The Seller’s managing agent has written to the tenant on renewal expressing £650 p.c.m. (£7,800 p.a.).
Holding over
Total £205,510 p.a.
175