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%.
