1104 Warwick Road, Acocks Green, Birmingham, B27 6BH
Retail investment opportunity in Acocks Green
Guide price*
£545,000+
Plus fees
Sold prior to auction for an undisclosed amount.
Lot information
Commercial Investment
Auction details:
Wednesday 14th December 2022 @ 09:00AM
A Freehold Retail Investment Property Current Rental Income: £38,950 pa.
Property Description
The property comprises a ground floor retail unit with ancillary accommodation and service access to the rear.Location
Acocks Green is a major conurbation of Birmingham. The property is located on Warwick Road (A41), some 6 miles south east of Birmingham City Centre. Solihull is 4 miles to the south east, Birmingham International Airport is 5 miles to the east, while the NEC is 9 miles to the east. The M42 motorway is 5 miles to the south via Junction 5 of the M6. Acocks Green shopping centre is on the north side of Warwick Road, fronting on to the roundabout junction with Westley Rd and Shirley Rd. Access to the car parking at the rear is via Station Road. This leads to Acocks Green rail station, less than a mile from the property. Motorway is 6.5 miles to the north. Acocks Green rail station is located in close proximity and has frequent services to Birmingham Snow Hill (9 minutes) and Solihull (6 minutes).Acocks Green ward is located in the south east of the city. It has a population of 23,117 making it the 3rd most populous ward in the city. The ward has a similar age profile to the city as a whole and a similar ethnic makeup.
Energy Performance Rating
See legal pack.Tenure
Freehold, subject to existing tenancy.Tenancy Details
The property is let to Boots UK Ltd for a term of five years from 01/11/2021 and expiring on 31/10/2026. The tenant has the option to break on 31/10/2024, where the tenant will receive 3 months rent free if the break isn’t exercised. The passing rent is £38,950 pa. Boots have occupied this unit for over 20 years.Value Added Tax
We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.Remote Bidding Auction
This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.Tenant Profile
Boots is the UK's leading health and beauty retailer. With over 2,200 stores ranging from local community pharmacies to large destination health and beauty stores. Boots is the number one high street and online beauty destination in the UK, employing over 51,000 staff members up and down the UK.Viewings
Strictly by appointment with the Auctioneers.Accommodation
| Sq.m. | Sq.Ft. | |
|---|---|---|
| Ground Floor: | 241.07 | 2,594 |
| First Floor: | 242.65 | 2,611 |
| Total: | 483.73 | 5,205 |
DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,340 inc VAT (£1,950.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
