Ariel House, 21362144 Coventry Road, Sheldon, Birmingham, B26 3JE

Description
An off-market opportunity to acquire the ground floor commercial unit at Ariel House, Sheldon . The unit let in its entirety to TSB Bank plc on a new 10-year lease from 2024 at a passing rent of £43,000 per annum exclusive.

Sheldon is one of Birmingham's most established suburban retail centres, sitting on the busy A45 Coventry Road corridor between Birmingham city centre and Birmingham International Airport. The TSB unit forms part of a prominent mixed-use frontage with strong daily footfall, complementary national retail occupiers (incl. KFC) and significant on-street and adjacent customer parking.

Location
The property occupies a prominent position at Ariel House on the A45 Coventry Road in Sheldon — a well-established east Birmingham suburban centre approximately 6.5 miles from Birmingham city centre and 2.5 miles from Birmingham International Airport. The immediate parade is anchored by national retail and food occupiers including KFC, with substantial on-street and adjacent off-street customer parking. Junction 6 of the M42 is approximately 2 miles to the east and Junction 6 of the M6 is c. 8 miles to the north-east.

Term of Lease
10 years from 2024 (expiry 2034)

Rental
£43,000 per annum exclusive, payable quarterly in advance on the usual quarter days

Rent Reviews
Upward/downward review to Open Market Rental Value on the fifth anniversary of the term commencement date.

Tenant Break Option
The tenant has the right to determine the lease on the fifth anniversary of the term commencement date, subject to providing not less than six months’ prior written notice.

Permitted Use
Class E — banking and ancillary financial services

VAT
We understand that the property has been elected for VAT and therefore VAT will be payable on the purchase price.

However, it is envisaged that the transaction will be structured as a Transfer of a Going Concern (TOGC), subject to the purchaser satisfying the relevant HMRC requirements.