61 High Street, Solihull, B91 3SW
£565.05 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
1,053 sq ft
98 sq m
- SECTOR
High street retail property for sale
Description
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 is paying £42,000 pax to 24/6/2023, which the vendor will top up upon completion). 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. Accounts for Y/E 30/9/2019 show an annual turnover of £1,100,598
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 Certificates
EPC 1Brochures
61 High Street, Solihull, B91 3SW
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Solihull Station0.5 miles
- Widney Manor Station1.2 miles
- Olton Station2.1 miles
About Bond Wolfe, Commercial Sales
1st Floor 75-77 Colmore Row Birmingham B3 2AP
Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.
We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and dow
Notes
Disclaimer - Property reference 164984. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe, Commercial Sales. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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