This property is no longer on the market
Industrial unit
Property description & features
- Tenure: Freehold
The property comprises a detached industrial unit with two storey office building.
The industrial space has been recently refurbished and benefits from 4x roller shutter doors on an enclosed site with extensive yard and perimeter palisade fencing.
Location
The property is located on Hamstead Industrial Estate 4 miles North of Birmingham City Centre.
The site is strategically located approx. 1.8 miles from J7 of the M6 motorway and approx. 3 miles from J1 of the M5 motorway.
It is approx. 4.6 miles from J6 of the M6 via the A38(M).
• M6 J7 - Approx. 1.8 miles
• M5 J1 - Approx. 3 miles
• M6 J6 - Approx. 4.6 miles
• Birmingham City Centre - 4 miles
Tenure
The property is held freehold under Title Number MM56176.
Tenancy
The property is let to Steer Automotive Group Limited on a 10-year lease from 18th February 2022.
The rent is currently £100,000 per annum exclusive payable monthly and is reviewable 5 yearly to open market value.
Covenant
Steer Automotive Group is the UKs largest accident repair groups operating from 56 sites and with 1,200 employees.
Pricing
Offers in excess of £1,295,000 are sought, subject to contract reflecting NIY of 7.38% (when assuming purchasers’ costs of 4.69%) and a low underlying Capital Value of £67.50 ft2.
VAT
All prices quoted are exclusive of VAT.
However, it is envisaged the sale will be treated as a TOGC.
Energy Performance Certificate (EPC)
EPC: D / 84
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 via the selling agent Siddall Jones.
Property information from this agent
Places of interest
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Property reference 138015-1. 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
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
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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