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Horner Way, Rowley Regis, West Midlands, B65

£1,882,000

£1042.66 per sq ft

Business rates & charges may apply

Edwards Property Consultants, Manchester
SIZE AVAILABLE

1,805 sq ft

168 sq m

SECTOR

Commercial property for sale

Site Demise PlanExisting Site Plan
2

Key features

  • A purpose-built Costa Coffee drive-thru investment in a prominent position fronting Horner Way (A4099) in Blackheath town centre.
  • Construction is underway for a 1,805 sq ft building on a site area of 0.46 acres, with the provision of 24 car parking spaces, including 2 EV charging spaces.
  • Project is planned to reach practical completion in November 2024.
  • Property to be let to Costa Limited on a 15 year FRI lease at £110,000 p.a., subject to 5 yearly CPI rent reviews with a cap of 3% and a collar of 1% p.a.
  • Prominent roadside position, directly opposite Sainsbury's Superstore and petrol filling station.
  • 1.7 miles from Junction 2 of the M5 motorway.
  • Seeking offers of £1,882,000 (One Million Eight Hundred and Eighty Two Thousand pounds).
  • A purchase at this level reflects a Net Initial Yield of 5.5%, assuming standard purchasers costs of 6.8%.

Description

The property will comprise of a purpose built Costa Coffee Drive Thru. Works have commenced on
site and landlord works are due to complete in November 2024.

The full planning consent can be accessed via the Sandwell Planning Portal under reference DOC/24/00734 and DC/23/68795.

The property has a target GIA of 1,805 sq ft and sits within a site of 0.46 acres. The completed landscaped site will provide a drive-thru lane and 24 car parking spaces, including 2 disabled spaces and 2 EV charging spaces.

The property is strategically located within Blackheath fronting Horner Way (A4099), a busy arterial road which forms part of the town centre ring road.

There is an Agreement to Lease in place for a new 15 year FRI lease to Costa Limited at £110,000 per annum. The lease is subject to 5 yearly CPI linked rent reviews with a cap of 3% and a collar of
1%.

Costa Ltd was founded in 1971 and with over 3,800 stores across 31 countries and over 18,000 employees, Costa Coffee is the second largest coffee house chains in the world and the largest in the UK. The Coca Cola Company acquired Costa Coffee in 2019 for $4.9BN.

Brochures

Horner Way, Rowley Regis, West Midlands, B65

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Rowley Regis Station0.4 miles
  • Old Hill Station0.8 miles
  • Langley Green Station2.0 miles

About Edwards Property Consultants, Manchester

26 King Street, Manchester, M2 6AY

Edwards have been advising clients since 1992. From agency to investment, asset management to valuation, we provide straightforward advice.

We act for start-up enterprises and global organisations, SME's and private investors. We also act for pension funds and leading banks.

Whilst our client base is eclectic, it is also select, allowing us to properly advise our clients through our personalised approach. Our clients know they are getting the best advice and a clear understanding of the market.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference CostaBlackheath. 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 Edwards Property Consultants, Manchester. 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.

Map data ©OpenStreetMap contributors.

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