Retail premises for sale in Middlemore Road, Birmingham B31

Investment Consideration:
Gross Initial Yield: 5.09%
Rental Income: £8,900 p.a.
VAT is not applicable to this property
Comprises ground floor retail shop and residential flat above (sold-off)
Property benefits from outdoor space at front suitable for retail/parking use and advertising board on the side wall, currently let to an advertising company
Situated within 2 min walk from Northfield Train Station and nearby occupiers including Post Office, Convenience Store, Texaco Filling Station and more.

Property Description:
Comprises ground floor retail premises t/a Boots pharmacy with residential flat above which has been sold-off on long leasehold. The property provides the following accommodation and dimensions:
Ground Floor: 80 sq m (861 sq ft)
Open plan retail, Ancillary, Kitchenette, WC
First/Second Floor: Residential Flat (sold-off)

Tenancy:
The retail shop is at present let to Boots UK Limited for a term years expiring 9th May 2027 at a current rent of £8,900 p.a. And the lease contains full repairing and insuring covenants. Tenant in occupation since 2011.
Flat No.1A has been sold off on long leasehold for a term of 99 years from 25th March 2000 at a ground rent of £150. Reversion March 2099 (75 years unexpired).
The advertising board is currently let at £150 p.a.

Location:
Northfield is a residential area in outer south Birmingham, England, and near the boundary with Worcestershire, which it was historically within. The property is situated within 2 min walk from Northfield Train Station and nearby occupiers including Post Office, Convenience Store, Texaco Filling Station and more.