24 - 26, Stoney Lane, B25 8YP

GROUND FLOOR APPROX. 135 SQM / 1,453 SQ FT LET TO LADBROKES BETTING & GAMING LTD CURRENT RENTAL INCOME £14,000 PAX BUSY MAIN ROAD FRONTAGE

Location

The property is situated at the end of a parade of retail units set back from Stoney Lane opposite KFC drive-thru in Yardley - a district to the east of Birmingham with its principal access being from Church Road (A4040) via Coventry Road (A45) which connects to Junction 6 of the M42 and in turn to the A38(M) Aston Expressway

Accommodation

The property is a double fronted two storey mid-terraced retail unit let in its entirety to Ladbrokes Limited.

The ground floor comprises a self-contained retail unit which has been fitted out to Ladbrokes corporate image to include air conditioning.

The internal staircase leading to the upper floor has been removed. The upper floor has therefore not been inspected or measured. Chivers Commercial cannot give any warranty as to the condition of the upper floors.

Terms

The property in its entirety is let to Ladbrokes Betting & Gaming Limited on a FRI lease dated 3 October 2017 for a term of 15 years at a current passing rent of £14,000 pax.

The lease is subject to 5 yearly upwards only rent reviews with the next review in October 2022 / 2027. The lease is subject to a tenant only option to break in September 2022 / 2027.

Rateable value

The Valuation Office Agency (VOA) website states that the property is assessed in the 2017 Rating List as follows:

Betting Shop and Premises: RV £13,000

Services

We understand all mains services including gas, electricity, water and drainage are connected to the property.

The agents have not tested the services and prospective purchasers are advised to make their own enquiries regarding the adequacy and condition of these installations.

Planning

Viewings

Email Costs

Each party to pay their own legal and other costs during the transaction. A pre-contract non-refundable deposit may be required before solicitors can be instructed.

VAT

All figures quoted are exclusive of VAT which will be added as required.

Additional Information

MONEY LAUNDERING

In accordance with current Anti Money Laundering Regulations, two forms of ID and confirmation of the source of funding will be required from the successful applicant.

ENERGY PERFORMANCE CERTIFICATE

The property has a rating of C. Copy certificate available on request.

Misdescription act

CONDITIONS UNDER WHICH THESE PARTICULARS ARE ISSUED:

Chivers Commercial for themselves and for vendors or lessors of this property whose agents they are give notice that:

(i) the particulars are set out as a general outline only for guidance of intended purchasers or lessees and do not constitute nor constitute part of an offer or contract;

(ii) all descriptions, dimensions, references to conditions and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them.

(iii) no person in the employment of Chivers Commercial has any authority to make or give any representation or warranty whatever in relation to this property.