This property is no longer on the market
Industrial development
Property description & features
- Tenure: Freehold
- Vacant first floor
- Secure yard area
- 4 parking spaces
- Prominent retail pitch
- Income producing until September 2028 at £78,000 pa
- Seeking offers in excess of £950,000 reflecting a NIY of 7.77%.
The property is mid terrace spread over ground and first floor, fronting Coventry Road, with vehicular access off Wordsworth Road. The orientation is of the property is dog legged in nature, enabling the property to benefit from a secure yard, roller shutter rear access and four parking spaces. Internally the ground floor has tiled floors, air conditioning, a cold food refrigerated counter, fluorescent strip lighting and glazed frontage. The first floor comprises vacant open plan accommodation with solid floors, sky lights and toilets.
Location
The subject property is situated on Coventry Road, a busy neighbourhood centre arranged as a linear retail pitch stretching for roughly a mile. The subject property is situated at the Southern edge of this pitch, close to Small Heath Park. National occupiers in the immediate area consist of Greggs, Post Office and Betfred, with a variety of local operators and service providers.
Situated in a prime retail pitch along Coventry Road, Small Heath, an area located approximately 2 miles south east of Birmingham city centre. Neighbouring districts include Alum Rock, approximately 1½ miles north west and Digbeth.
Transport links to the area are good, with nearby roads including the A4540 Outer Ring Road, and the A45 and A41, which both connect to the City Centre and the M42/M40. The nearest railway station is Small Heath, 0.5 miles south, which offers a regular service to Birmingham (Snow Hill) in approximately 7 minutes.
VAT
Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.
Legal Costs
Each party to be responsible for their own legal costs incurred in this transaction.
AML
In accordance with Anti-Money Laundering requirements, two forms of identification will be required from the purchaser or tenant and any beneficial owner together with evidence/proof identifying the source of funds being relied upon to complete the transaction.
Tenancy & Accommodation
Ground floor is let to Sonali Supermarket (Birmingham) LTD
Passing Rent - £78,000
Lease Start -01/08/2018
Expiry Date - 01/09/2028
First Floor - Vacant
Proposal
We are instructed to seek offers in excess of £950,000 (nine hundred and fifty thousand pounds) which reflects a Net Initial Yield of 7.77% (allowing for purchaser' costs of 5.69%), or £101.41 per sq ft.
Property information from this agent
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 157713-1. 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 Vail Williams - Birmingham.
OnTheMarket may have applied supplementary data to this property listing, including:
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
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.