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Commercial Property for sale

Glabraith House Great Charles Street City Centre Birmingham B3 3LG

Sold by Us £525,000
2,375 sq. ft.

Property Description

Commercial information

  • 2,375 sq ft (220 sq m)

Key features

  • City Centre Investment Oppourtunity
  • Two Retail Premises
  • Generating Income in Excess of 38,000 Per Annum

Full description

Location

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.

Description

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.

Offering

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.

Tenancies

                    

 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:
 ERV:
     £38,908 
 £45,658
                                                           

Proposal

We are seeking offers in excess of £525,000 (Five Hundred and Twenty Five Thousand Pounds) subject to contract and exclusive of VAT.

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).

Legal Costs

Each party are to be responsible for their own legal fees incurred during this transaction.

Further Information

Should you require any further information or wish to arrange an inspection please contact the sole agents Siddall Jones on 0121 638 0500


More information from this agent

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