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The property comprises a high yielding retail investment located in a popular Birmingham suburb and let to Lloyds Bank.
Arranged across ground floor only, the property has been occupied by Lloyds Bank Plc for over 10 years. The lease was renewed in June 2023 for a term of three years with a rental increase to £31,000 per annum from the previous rent of £26,250 per annum.
The property includes a yard area to the front which may offer potential for additional retail area (subject to the requisite consents). There is also arear access with parking for approximately eight vehicles. The Manor Park car park is also immediately to the rear of the property.
Kingswinford is a suburb of Birmingham popular with families and commuters. The property is situated in a prominent position on the High Street with local occupiers including Wetherspoon, Greggs and Heron Foods.
Tenure
Freehold
Tenancy
The property is let to Lloyds Bank Plc on a lease expiring 23rd June 2026 and paying a rent of £31,000 per annum.
The lease is on full repairing and insuring terms and is within the security of tenure provisions of the Landlord and Tenant 1954 Act.
We understand the current lease is a renewal of an existing lease from 2013 at a previous rent of £26,250 per annum.
Planning
Although there are no extant planning consents, the property may suit medium/long term development to provide additional floors, as the property is lower in height than surrounding buildings. This development may include alternative uses, including residential (subject to obtaining the requisite consents).
Rent