61 High Street, Solihull, B91 3SW
About this home
Property Details: • Type: 1,053 sq ft • Tenure: N/A • Floor Area: N/A
Key Features: • Attractive & highly affluent town in the West Midlands • The property is let in it's entirety to Fone World Limited • Established national retailer with 24 outlets • Passing rent - £50,000 pax • Tenant in occupation since 2016 • Freehold - Offers over £595,000 equating to a NIY of 8.00%
Location: • Nearest Station: Solihull Station • Distance to Station: 0.5 miles
Agent Information: • Address: 1st Floor 75-77 Colmore Row Birmingham B3 2AP
Full Description: For Sale by private treaty.
Offers in excess of £595,000 are sought, equating to a net initial yield of 8%, after purchasers costs.
A freehold retail investment, let on a renewed five-year lease.
The property comprises a substantial mid parade retail premises extending to 1,053 sq ft. and is serviced to the rear.
Accommodation ITZA - 433 sq ft Ancillary - 620 sq ft Total - 1053 sq ft
Location Solihull is a highly affluent town located in the West Midlands. The town is situated approximately 7.5 miles southeast of Birmingham City Centre, 18 miles northwest of Warwick and 14 miles west of Coventry. The town benefits from excellent road communications, with the A41 providing direct access to Birmingham to the north and London in the south via the M42 and M40.
Tenure Freehold, subject to the existing tenancy,
Tenancy The property is let in its entirety to Fone World UK Limited on a renewed full repairing and insuring lease, expiring 24/6/2026 (without any breaks). The passing rent is £50,000 per annum exclusive. The tenant has been in occupation since 2016.
Tenant profile Fone World UK Limited is a privately owned national retailer, founded in 2012 that specialises in the repair of smartphones, tablets and computers through 24 different outlets, which is currently being expanded. They are the UK's largest mobile phone accessories retailer & distributors, offering the most competitive prices for their repairs, cases, and mobile phone accessories, whilst providing quality customer services.
VAT We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.
EPC Available upon request.
Legal Costs Each party are to 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.
Disclaimer A Director of Bond Wolfe has a vested interest in this property.Energy Performance CertificatesEPC 1