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Sold
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Sold Post
The property comprises a high yielding retail investment let to Poundstretcher on a popular high footfall street.
Arranged across ground and first floors, the property is fully let to Poundstretcher Limited on a recently renewed five year lease expiring 08.09.2029 and paying £77,500 per annum. The lease includes a fixed rental uplift to £80,000 in August 2027 and the Vendor will "top up" the rent to this level from completion.
The property occupies a high footfall pitch on Erdington High Street, immediately opposite the Central Square Shopping Centre. The surrounding area benefits from low levels of vacancy and is characterised by a number of national retailers including Holland & Barrett, Specsavers, Heron Foods and B&M.
Tenure
Freehold
Accommodation
Ground Floor - 16,700 sq ft (1,551.43 sq m)
First Floor - 15,000 sq ft (1,393.5 sq m)
Please note areas are approximate.
Tenancy
The property is let to Poundstretcher Limited on a recently renewed five year lease expiring 08.09.2029 and paying £77,500 per annum. The lease includes a fixed rental uplift to £80,000 in August 2027 and the Vendor will "top up" the rent to this level from completion.
The lease is on full repairing and insuring terms and includes a tenants break option in August 2027.
The lease is a renewal of a previous lease from 2021 and is contracted outside of the Security of Tenure provisions of the Landlord and Tenant 1954 Act.
Poundstretcher Limited
Rent
Notes
Please note Savills have not inspected the property. Any photos, drawings and plans are for illustrative purposes only and are not to be relied upon.