723-723a Bristol Road South, Northfield, Birmingham

Northfield is one of Birmingham’s principal Satellite Towns.

The property occupies one of the busiest and prominent trading locations being situated on a busy crossroads.

It is situated directly adjacent to McDonalds with other occupiers close by including Heron Frozen Foods and Savers. It is directly opposite the Northfield Shopping Centre.

There is a public car park adjacent to the parade, with several bus stops to the front.

The property comprises of a large corner building having 2 shops at ground floor and 2 self-contained flats upon the first floor, accessed from the rear.

One of the shops (723) is let to a Franchisee of Subway, the other (723a) is currently vacant and most latterly traded as a Costa Coffee Shop. It is on the market to let separately, details available on request.

There is rear servicing access.

The property comprises of the following approximate gross internal floor areas:-

• 723 (Subway)

Ground Floor: c.1,075 sq ft (100 sq m)
Basement: (not measured)

• 723a (Vacant – ex Costa Coffee)

Ground Floor: c.2,000 sq ft (186 sq m)

• Flat 1 - 2 bedrooms

• Flat 2 - 1 bedroom

Tenancies:-

• 723 (Subway)

Let to a Franchisee of Subway from 1/4/22 to 31/3/37 subject to a rent review on 1/4/27, and tenant-only break options on 1/4/27 and 1/4/32. The passing rent is £22,000pa. The lease is essentially FRI (excluding basement) and is excluded from sections 24 – 28 of the Landlord & Tenant Act 1954, referred to as “outside of the Act”.

• 723a (Vacant)

Currently on the market to let, quoting £29.500pa

• Flat 1

Let on an AST at a rent of £695 pcm

• Flat 2

Let on an AST at a rent of £575 pcm

• Total current rent: £37,240pa
• Estimated rental value: c.£66,740 pa

Price - £775,000, subject to contract

It is understood that VAT will be charged on the sale proceeds.