79 Cregoe Street, Birmingham, B15 2DP

Property Details: • Type: N/A • Tenure: N/A • Floor Area: N/A

Key Features: • Prominently located convenience store investment opportunity. • Situated at the prestigious 61 acre Park Central development. • 1,933 sq. ft. ( 179.64 sq m) sq ft ground floor corner unit. • Let for a term of 15 years from 20/11/2020, expiring 19/11/2035. • Lease contains personal guarentees. • Passing rent of £28,000 per annum, with stepped increments to £36,000 per annum. • Offers in excess of £495,000 are sought for the long leasehold interest.

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 1st Floor 75-77 Colmore Row Birmingham B3 2AP

Full Description: For Sale by private treaty.

Offers in excess of £495,000 are sought for the long leasehold interest, equating to a reversionary yield of 7.3%.

Purpose Built Convenience Store Investment Opportunity

The property comprises a modern ground floor corner retail unit within a 5-storey residential apartment building. The property is fitted out to a good standard as a convenience store and extends to 1,933 sq. ft. ( 179.64 sq m) incorporating a retail store, staff WC's and office/storage space.

Accommodation Retail - 1,723 Sq Ft - 160.13 Sq M Staff WC - 40 Sq Ft - 3.7 Sq M Office/Storage - 170 Sq Ft - 15.8 Sq M Total - 1,933 Sq Ft - 179.63 Sq M

Location The Property is located in the Park Central area of Birmingham, approximately 0.9 miles to the southwest of the City Centre. Park Central is essentially a large residential area close to the city centre, a mix of private and social housing that has been developed by the City Council in partnership with private developers over the past 15-20 years. Five Ways railway station is situated approximately 480 metres to the west of the property. From Five Ways there are direct services to Birmingham New Street (3 mins), Bromsgrove (27 mins) and Four Oaks (30 mins). Birmingham New Street railway station is situated approximately 0.6 miles to the northeast of the property. From Birmingham New Street there are direct services to Birmingham International (10 mins), Wolverhampton (18 mins) and London Euston (1 hour 19 mins). The M5 motorway, which connects the Midlands with South West England, is located approximately 4.1 miles to the northwest of the property. By road, the property is located approximately 14 miles southeast of Wolverhampton, 20 miles west of Coventry, 44 miles west of Leicester, 44 miles southwest of Derby and 118 miles northwest of London. Park Central is a Crest Nicholson development comprising of 1,300 apartments dispersed upon 61 acres. Winner of Property Week's The Placemaking Award' in 2016, the development is located a 15-minutes walk from Birmingham City Centre.

Tenure The property is held long leasehold for a term of 150 years from 1st April 2003.

Tenancy The property is let for a term of 15 years from 20/11/2020, expiring 19/11/2035. The passing rent is £28,000 per annum, rising to £32,000 pa on 24/12/2025 and then £36,000 pa from 24/12/2030. There is a break clause at 24/12/2030 and the lease benefits from a personal guarantor.

VAT VAT will be payable on the purchase price, however, we anticipate the transaction to be treated as a TOGC.

EPC C rated.

Service Charge There is a variable service charge payable towards the upkeep and maintenance of the estate . Further details are available upon request to the selling agents.

Legal Costs Each party is 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.Energy Performance CertificatesEPC 1