Retail premises for sale in 182-184 High Street, Harborne, Birmingham B17

Description

The property comprises a former high street bank premises which has recently been converted to provide a large coffee house and restaurant premises benefiting from substantial double frontage to the high street.

Location

The property is situated along Harborne High Street within the affluent Edgbaston constituency and lying approximately 3 miles Southwest of Birmingham City Centre.

Harborne is considered one of Birmingham’s wealthier suburbs with an abundance of bars, eateries and boutique retail outlets.

The subject property is located in the centre of the High Street with local occupiers including Slug & Lettuce, Harborne Kitchen, Pizza Express, Caffe Nero and Oliver Bonas.

Availability_Text

The accommodation comprises the following areas:

Tenure

The property is held freehold.

Tenancy

The property is let to coffee tales harborne T/A coffee tales ltd on a new 15-year lease from July 2023 at £50,000 per annum rising by £1,000 on each anniversary for the first two years and is reviewable 5 yearly to open market value.

Covenant

Coffee Tales currently trade from both Harborne and Jewellery Quarter having been in business for approximately 8 years.

Pricing

Offers in excess of £700,000 are sought, subject to contract reflecting niy of 7.14% (based on £52,000 pa and assuming purchasers’ costs of 4%) and a low underlying Capital Value of £260 ft2.

VAT

All prices quoted are exclusive of VAT which we understand is not payable.

Energy Performance Certificate (EPC)

Energy Performance Certificate (EPC) 85 D

Money Laundering

The money laundering regulations require identification checks are undertaken for all parties purchasing/leasing property.

Before a business relationship can be formed, we will request proof of identification for the purchasing/leasing entity.

Legal Costs

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

Viewings And Further Information

Viewings and Further Information strictly via the sole selling agent Siddall Jones.