Tesco, Tower 2 The Bank

78-79 Broad Street, Birmingham B15 1AQ
Current Sale
Tesco, Tower 2 The Bank
78-79 Broad Street, Birmingham B15 1AQ
  • Excellent opportunity to acquire a well let convenience store in a very prominent position in a prestigious Birmingham development.
  • The Bank is a high-quality residential development with extensive frontage to Broad Street and Oozells Way close to Brindley Place that has transformed the Birmingham Sky-Line.
  • Ground floor unit of Tower 2 extending to 3,360 sqft GIA.
  • Let to Tesco Stores Limited for 15 years with a tenants break at year 10 at a rent of £70,000 per annum equating to £20.83 per sq ft.
  • Upward only rent reviewed every 5 years to market value subject to a cap of 12.5%.
  • 250 years long leasehold interest at a peppercorn rent.

Offers in excess of £1,285,000 (One Million Two Hundred and Eighty Five Thousand Pounds) subject to contract and exclusive of VAT and reflecting a net initial yield of 5.14% after for allowing for purchasers costs of 6.00%.

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