Details for Three Shires Oak Road - Fastly
For further information please contact: Ben Holyhead T: 0121 609 8807 E: [email protected] Perm Daley T: 0121 233 5046 E: [email protected]
For sale 105-111 & 113-114 Three Shires Oak Road, Smethwick Birmingham, West Midlands, B67 5BT
Location Situated in a prominent position on Three Shires Oak Road in Bearwood, Smethwick. A busy high street retail location less than 0.5 mile from the A456 Hagley Road. Birmingham City Centre is approx. 4 miles east and West Bromwich Town Centre 3.5 miles north-west. There are a number of train stations within close proximity and a regular bus service into Birmingham City Centre. Description Comprises a fully let high street retail parade of 5 no. retail units, 2 no. restaurants / bars and 6 no. residential apartments (1 no. 2 bed and 5 no. 1 bed) with communal gardens to the rear. Retail units are of similar specification and configuration, ranging from approx. 467 sq. ft. to 577 sq. ft. Restaurants / bars are larger ranging from approx.
1,532 sq. ft. to 1,914 sq. ft., are double fronted and have specifications more suited to their use. To first floor level there are 5 no. 1 bedroom apartments and 1 no. 2 bedroom apartment, generally providing lounge, kitchen, bedroom(s) and bathroom.
Services We understand all mains services are available. These services have not been tested. Interested parties should rely on their own enquiries. Tenure Freehold. Guide Price
Gross rent passing of £119,040 p.a.x. ERV of approx. £131,000 p.a.x.
Unconditional offers in excess of £1.1m invited for the freehold interest.
A detailed tenancy schedule is provided overleaf.
VAT
EPC EPCs available upon request.
Costs
Planning We understand the property has planning consent for its existing uses. Interested parties to rely on their own enquiries with Sandwell MBC.
08449 02 03 04 avisonyoung.co.uk/14455
All prices are quoted exclusive of VAT.
Each party will bear their own costs in respect of the transaction. Marketing Pack A copy of the full Marketing Pack is available upon request.
Holding over 3 years
Claire Shacklock Kelvin Ikechukwu
577
Not measured
524
107*
107A
108
Avison Young is the trading name of GVA Grimley Limited ©2018 GVA Grimley Limited
Avison Young 3 Brindleyplace, Birmingham, B1 2JB
Avison Young hereby gives notice that the information provided (either for itself, for any joint agents or for the vendors lessors of this property whose agent Avison Young is in this brochure is provided on the following conditions: (1) The particulars are set out as a general outline only, for the guidance of intending purchasers and/or lessees and do not constitute an offer or contract, or part of an offer or co contract. (2) All descriptions, dimensions and references to this property’s condition and any necessary permission for use and occupation, and any other relevant details, are given in good faith and are believed to be correct. However, any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves of their correctness by inspection or otherwise.
September 2018
Holding over 3 years
Marco Barbuiani Muhammed Awais
Not measured
516
109A
110
6 months
25 years
Not Mapiel Zisis & measured Markeliana Zisi Chebar Real Estate Ltd
03.09.15
02.09.40
05.01.19
U/K
31.07.17
21.12.19
25.05.16
08.09.19
04.02.18
28.02.19
10.04.14
23.03.17
31.01.18
31.08.22
Lease Expiry
5 yearly
None
U/K
None
None
None
None
None
None
None
None
None
None
Rent Review
119,040
31,200
5,400
8,000
5,400
6,000
5,520
6,000
5,400
7,200
5,280
13,000
6,600
14,040
Rent £ p.a.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘Barbers’. No formal lease in place.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘UK Ideal Blinds’. Occupying by way of licence.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘Golden Keys Bridal House’. Occupying by way of licence.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘KH Afro Connect Store’. Occupying by way of licence.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘Tomo’s Tattoo Shop’. No formal lease in place.
First floor, 2 bedroom apartment. Assured Shorthold Tenancy.
131,092
‘Sion Cocktail Bar’ Guarantor – Mr B. Ayo-Ojo. 26,796 FRI lease. Insurance rent. L&TA 1954. Tenant only break clause 03.09.20.
5,400
9,652
5,400
9,804
5,400
8,873
5,400
9,956
5,400
10,963
6,600
‘Spice Zone’ - Tenant not in occupation. Landlord seeking vacant possession. 21,448 Tenant only break clause on 31.08.20. Insurance contribution of £30p.c.m.
ERV £ Comments p.a.
*The landlord is currently negotiating new leases with the tenants of 107 & 111 Three Shires Oak Road (terms to be agreed).
1,914
06.07.18
U/K
Holding over
508 Michael D’Arcy
TOTAL £ p.a.
113-114
111A
111*
01.02.17
22.12.16
26.11.15
09.09.16
05.08.17
Holding over
Not Alberto Marini measured
3 years
Evandelane Morris
467
109
110A
Holding over
Not Hana Klimova measured
108A
01.03.16
11.10.13
24.03.07
Paul Tracey
Not measured
105A-106A
01.09.17
Holding over
Naza Emini & Bujar Emini
1,532
105-106
01.08.17
5 years
Ashok Kumar Ram
Lease Start
Holding over
Term
Tenant
Area (sq. ft.)
Unit
Tenancy Schedule
File number: 01B807205
(3) No person in the employment of Avison Young or any joint agents, has any authority to make or give any representation or warranty whatsoever in relation to the property or properties in this brochure. (4) All prices quoted are exclusive of VAT. (5) Avison Young shall have no liability whatsoever in relation to any documents contained within the brochure or any elements of the brochure which were prepared solely by third parties, and not by Avison Young.
For sale 105-111 & 113-114 Three Shires Oak Road, Smethwick Birmingham, West Midlands, B67 5BT
Location Situated in a prominent position on Three Shires Oak Road in Bearwood, Smethwick. A busy high street retail location less than 0.5 mile from the A456 Hagley Road. Birmingham City Centre is approx. 4 miles east and West Bromwich Town Centre 3.5 miles north-west. There are a number of train stations within close proximity and a regular bus service into Birmingham City Centre. Description Comprises a fully let high street retail parade of 5 no. retail units, 2 no. restaurants / bars and 6 no. residential apartments (1 no. 2 bed and 5 no. 1 bed) with communal gardens to the rear. Retail units are of similar specification and configuration, ranging from approx. 467 sq. ft. to 577 sq. ft. Restaurants / bars are larger ranging from approx.
1,532 sq. ft. to 1,914 sq. ft., are double fronted and have specifications more suited to their use. To first floor level there are 5 no. 1 bedroom apartments and 1 no. 2 bedroom apartment, generally providing lounge, kitchen, bedroom(s) and bathroom.
Services We understand all mains services are available. These services have not been tested. Interested parties should rely on their own enquiries. Tenure Freehold. Guide Price
Gross rent passing of £119,040 p.a.x. ERV of approx. £131,000 p.a.x.
Unconditional offers in excess of £1.1m invited for the freehold interest.
A detailed tenancy schedule is provided overleaf.
VAT
EPC EPCs available upon request.
Costs
Planning We understand the property has planning consent for its existing uses. Interested parties to rely on their own enquiries with Sandwell MBC.
08449 02 03 04 avisonyoung.co.uk/14455
All prices are quoted exclusive of VAT.
Each party will bear their own costs in respect of the transaction. Marketing Pack A copy of the full Marketing Pack is available upon request.
Holding over 3 years
Claire Shacklock Kelvin Ikechukwu
577
Not measured
524
107*
107A
108
Avison Young is the trading name of GVA Grimley Limited ©2018 GVA Grimley Limited
Avison Young 3 Brindleyplace, Birmingham, B1 2JB
Avison Young hereby gives notice that the information provided (either for itself, for any joint agents or for the vendors lessors of this property whose agent Avison Young is in this brochure is provided on the following conditions: (1) The particulars are set out as a general outline only, for the guidance of intending purchasers and/or lessees and do not constitute an offer or contract, or part of an offer or co contract. (2) All descriptions, dimensions and references to this property’s condition and any necessary permission for use and occupation, and any other relevant details, are given in good faith and are believed to be correct. However, any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves of their correctness by inspection or otherwise.
September 2018
Holding over 3 years
Marco Barbuiani Muhammed Awais
Not measured
516
109A
110
6 months
25 years
Not Mapiel Zisis & measured Markeliana Zisi Chebar Real Estate Ltd
03.09.15
02.09.40
05.01.19
U/K
31.07.17
21.12.19
25.05.16
08.09.19
04.02.18
28.02.19
10.04.14
23.03.17
31.01.18
31.08.22
Lease Expiry
5 yearly
None
U/K
None
None
None
None
None
None
None
None
None
None
Rent Review
119,040
31,200
5,400
8,000
5,400
6,000
5,520
6,000
5,400
7,200
5,280
13,000
6,600
14,040
Rent £ p.a.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘Barbers’. No formal lease in place.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘UK Ideal Blinds’. Occupying by way of licence.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘Golden Keys Bridal House’. Occupying by way of licence.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘KH Afro Connect Store’. Occupying by way of licence.
First floor, 1 bedroom apartment. Assured Shorthold Tenancy.
‘Tomo’s Tattoo Shop’. No formal lease in place.
First floor, 2 bedroom apartment. Assured Shorthold Tenancy.
131,092
‘Sion Cocktail Bar’ Guarantor – Mr B. Ayo-Ojo. 26,796 FRI lease. Insurance rent. L&TA 1954. Tenant only break clause 03.09.20.
5,400
9,652
5,400
9,804
5,400
8,873
5,400
9,956
5,400
10,963
6,600
‘Spice Zone’ - Tenant not in occupation. Landlord seeking vacant possession. 21,448 Tenant only break clause on 31.08.20. Insurance contribution of £30p.c.m.
ERV £ Comments p.a.
*The landlord is currently negotiating new leases with the tenants of 107 & 111 Three Shires Oak Road (terms to be agreed).
1,914
06.07.18
U/K
Holding over
508 Michael D’Arcy
TOTAL £ p.a.
113-114
111A
111*
01.02.17
22.12.16
26.11.15
09.09.16
05.08.17
Holding over
Not Alberto Marini measured
3 years
Evandelane Morris
467
109
110A
Holding over
Not Hana Klimova measured
108A
01.03.16
11.10.13
24.03.07
Paul Tracey
Not measured
105A-106A
01.09.17
Holding over
Naza Emini & Bujar Emini
1,532
105-106
01.08.17
5 years
Ashok Kumar Ram
Lease Start
Holding over
Term
Tenant
Area (sq. ft.)
Unit
Tenancy Schedule
File number: 01B807205
(3) No person in the employment of Avison Young or any joint agents, has any authority to make or give any representation or warranty whatsoever in relation to the property or properties in this brochure. (4) All prices quoted are exclusive of VAT. (5) Avison Young shall have no liability whatsoever in relation to any documents contained within the brochure or any elements of the brochure which were prepared solely by third parties, and not by Avison Young.
