Commercial Property for saleGlabraith House Great Charles Street City Centre Birmingham B3 3LG
Sold by Us
2,375 sq. ft.
- 2,375 sq ft (220 sq m)
- City Centre Investment Oppourtunity
- Two Retail Premises
- Generating Income in Excess of ¿38,000 Per Annum
Galbraith House occupies a prime City Centre position being situated on Great Charles Street at its junction with Newhall Street and within close proximity to Birmingham City Centre, St Pauls Square and the Jewellery Quarter.
Originally a 1970’s office building, the property has recently been stylishly transformed into 19 contemporary apartments with great views across the City Centre and the Jewellery Quarter.
We have been instructed to market the 999-lease leasehold interest in the commercial element which briefly comprises two ground floor retail units a telecoms mast and a basement level storage room.
The lease will be granted from completion for a term of 999 years at a peppercorn rental.
| Unit ||Tenant||Lease Term||Rental (PA)|
|A (659 ft2)||Brampton Design Limited|| 5 years from September 2014 ||£7,908|
|B (900 ft2)||Philpotts Limited||New 10 year lease from 2017||£16,500|
|C (816 ft2)||Vacant||ERV: £6,750|
|Roof||EE & Hutchinson 3G UK Ltd||6 years from Jan 2015||£14,500|
| Total Rental Income: |
| £38,908 |
We are seeking offers in excess of £525,000 (Five Hundred and Twenty Five Thousand Pounds) subject to contract and exclusive of VAT.
The property has been elected for VAT and therefore VAT will be payable on the purchase price.
However, we anticipate the transaction will be treated as a Transfer of Going Concern (TOGC).
Each party are to be responsible for their own legal fees incurred during this transaction.
Should you require any further information or wish to arrange an inspection please contact the sole agents Siddall Jones on 0121 638 0500
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