Busy service station in Sutton Coldfield will appear at auction from £1.85 million

Healthy rents of nearly £175,000 a year will make a busy service station in Sutton Coldfield one of the star attractions in our next auction.

The Whynot Service Station on Reddicap Heath Road will have a guide price* of £1.85 million+ in the livestreamed auction on Thursday 11 July. Ian Tudor, commercial auction director at Bond Wolfe, explained that property included a petrol filling station with convenience store, an MOT centre, valeting bay, residential accommodation and parcel lockers

Mr Tudor said: “This is a prominent and well-let freehold motor trade investment property with healthy current rental income of £174,520. The location is within a well-established residential neighbourhood within the popular and affluent town of Sutton Coldfield. This is excellent trading position for the property’s existing use and may be considered suitable for future development, subject to any necessary planning permission.”

The property includes a well-established neighbourhood petrol filling station with a modern canopied forecourt, four pump layout, and generous frontage with access from and to Reddicap Heath Road. There is a forecourt shop and off license with tiled floor, suspended ceilings, stock room, office and toilet.

The MOT centre has an entrance lobby, reception and waiting area, customer toilet, and extensive MOT workshop bay with vehicle lift, plus an internal vehicle valeting bay. On the first floor, there is a further stock room for the petrol filling station and an office for the MOT repair centre. There is then a separate area with a communal landing, shared lounge, kitchen and dining area, two communal shower rooms and two bedrooms.

On the second floor there are four further bedrooms, while outside there is a range of Inpost lockers and further private lockers, and a surfaced rear car parking area for approximately 15 cars. The petrol forecourt and convenience store are rented by KV Convenience Limited for £101,400 a year, and the vehicle repair workshop is rented by VRS Auto Ltd for £20,160 a year. The car valeting bay is rented by Reddicap Car Care Ltd for £20,160 a year, and the living accommodation is rented by Care and Alliance Ltd for £24,000 a year. All the above rents are on 15 year leases ending in 2037, and each one has upwards only rent reviews every five years. It is understood that further informal arrangements are in place in respect of the lockers which produce another £5,600 rent per annum.

Mr Tudor added: “With such a wide range of good rental income in place, we expect strong competition for this lot.”

The Whynot Service Station is just one of 194 lots that are appearing in Bond Wolfe’s next auction, which will start at 8.30am on Thursday 11 July.

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