Commercial Property
False
The property is prominently located to the northern side of High Street, Erdington, near its junction with York Road and Coton Lane. The property is situated within a popular parade along one of Birmingham's busiest local shopping High Streets and is considered to occupy an excellent position for its existing use. Within the vicinity, there is a good mix of local traders and multiple retailers including Greggs, Halifax, The Money Shop, Brighthouse, Lloyds, Farm Foods, Iceland, Betfred and a number of national charity shops are also represented within the general vicinity.
The property comprises a traditional three storey mid terrace of brick construction, providing a modern retail unit on the ground floor and self-contained offices and meeting rooms on the first and second floors. The whole premises are occupied by Ladbrokes and extend to approximately 3,022 sq.ft. (280.80 sq.m.).
Commercial Investment
A Freehold High Street Investment Property, Let to Ladbrokes
Current Gross Income: £39,000 pa, Rising to £40,000 pa. in December 2015
We understand that the property is Freehold, subject to a Lease to Ladbrokes Betting & Gaming Ltd for a term of 15 years, with effect from 25th December 2010, at a rent of £39,000 per annum. There is a provision within the Lease for the rent to be increased to £40,000 per annum with effect from 25th December 2015 and a further review with effect from 25th December 2020.
A copy of the Lease will be available for inspection within the legal pack.
We understand that VAT will be chargeable on this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
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