Commercial Property Sold STC

Location

762-764 Bristol Road is located in Selly Oak and benefits from a very large footfall as well as being prominently located on the corner plot visible to high volumes of traffic. Selly Oak has a large and growing student population which is to the advantage of the present tenants' businesses and should provide comfort to the purchaser of their ongoing occupancy.

Description

The building is two storey under a flat roof, brick construction, with a further flat roof at the rear with a small service yard. Sheldon Bosley Knight have managed the premises for many years and are well versed with the history of both the tenants and the building should it be required.

Summary of Tenants

Ground floor
•Tenant: BJ SO Limited (trading as Big John’s)
•Annual rent: £14,500
•Term: 15 years
•Lease start: 2011
•Lease end: 24/03/2026
•Term left: 2.84 years
•Rent review: 1 outstanding 25/03/2021

First floor
•Tenant: Adage Dance & Fitness Studio
•Annual rent: £7,900
•Term: 5 years
•Lease start: 15/01/2021
•Lease end: 14/01/2026
•Term left: 2.65 years
•Break clause: 15/01/2024
•Rent review: none

Telecommunications mast
•Tenant: On Tower
•Annual rent: £5,250
•Lease start: 31/12/2001
•Lease end: 31/12/2021
•Term left: Holding over
•Notes: Negotiations ongoing

Advertising hoarding
Historically the building has had additional income from advertising hoardings. Negotiations are near completion on two hoardings with an annual income of £6,000 per annum.

Total rental income £33,650 (£39,650 with the banner should it complete).

EPC

Energy Performance Rating D

Tenure

Freehold

VAT

Please note that VAT is applicable on all rental income.

Further Enquiries

Interested parties are requested to inform the Agents at which point a legal summary pack will be provided.

Viewing

Strictly by appointment and viewings carried out at the convenience of the occupying businesses.
AML checks will be required prior to any viewings arranged.

To arrange a viewing please telephone Commercial on 01386 765700.

Important Notes

We are required by HMRC to conduct anti-money laundering checks on all parties with an interest in the property and accordingly we will require forms of identification in due course.

Particulars:
These Particulars do not constitute an offer or contract and should not be relied upon as being factually accurate, the photographs show only part of the property and the areas, measurements and distances given are approximately only.

A buyer or a lessee must make their own enquiries or inspections and should not solely rely on these Particulars or other statements by Sheldon Bosley Knight.

VAT: The VAT position relating to the property may change without notice.