The Old Picture House, Tamworth Street, Lichfield, Staffordshire, WS13 6JP

Description

The property comprises a new ground floor commercial unit finished to a shell specification with new shop front glazing to the front and side elevations. Further benefits include sliding doors to the front, with a forecourt seating area immediately to the front of the property. The unit is deemed ideal for variety of uses, subject to obtaining the necessary consents/licences.

Above the unit are 38 newly built apartments sold of on 250 year leases. Any purchaser of the Freehold would benefit from the ground rent income which produces approximately £10,000 per annum.

Location

The Old Picture House is a brand new mixed use development providing a brand new commercial unit together with 38 premium one and two bedroomed apartments. Being prominently located on Tamworth Street immediately adjacent to its junction with Lombard Street in the heart of Lichfield City Centre. Lichfield is a thriving Cathedral City offering a strong mix of local independent and national retail, restaurant and bar operators with notable occupiers to include Ego Mediterranean, Ask Italian, Waterstones, Costa Coffee, Fat Face and Premier Inn to name just a few. Lichfield also benefits from excellent road links via the motorway network to include M6 Toll, M6, M42 and M5 together with rail links to Birmingham City Centre on the Cross City Line and to London and Glasgow via the West Coast mainline.

Accommodation

Ground Floor – 3,972 sq. ft. ( 369 sq m)

Lease Terms

The property is available to let on flexible lease terms, for a term to be agreed at a quoting rent of £65,000 per annum.

Service Charge

Freehold – offers based on £1,200,000
Leasehold – offers based on £65,000 per annum

Additional Information

Alternatively, the vendor will consider a sale of the ground floor unit on a long leasehold basis, or of the entire Freehold to include the rear car park (12 spaces) and the ground rent income of the upper floor apartments. The residential element produces an income of £10,000 per annum.

EPC

EPC rating A.

Legal Costs

Each party are to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering

In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.