The Canal House

James Brindley, 12 Bridge Street, Birmingham B1 2JR
Sold
The Canal House
James Brindley, 12 Bridge Street, Birmingham B1 2JR
  • Attractive ground rent investment, prominently located on Bridge Street, situated at the heart of Birmingham’s leisure district overlooking Gas Street Basin.
  • A prime site extending to circa 0.41 acres (0.166) with a modern gastro pub and restaurant within the demise.
  • Let to New World Trading Company (UK) Limited for a term of 150 years from the 10 June 1985 with approximately 117.75 years unexpired.
  • Low passing rent of £27,500 per annum.
  • Attractive upward only 7 yearly rent reviews to ‘Open Market’. The next review being 25 March 2020.
  • Virtual Freehold for a term of 999 years at a peppercorn rent.
  • We are instructed to offers in excess of £570,000 (Five Hundred & Seventy Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 4.6% after applying purchasers’ costs of 4.96%.

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