Located in a thriving community retail hub at the centre of Warndon
5,314 sq ft on ground floor supermarket with 4 x 2 bed flats above
Freehold
Let to Tates Limited, a wholly owned subsidiary of A.F. Blakemore & Son Limited
99 years with effect from 22nd April 1969 until 21st April 2068 (47.7 years unexpired)
Original Privity Tenant is Barrow’s Stores Limited – Barrows Stores acquired the business of C.C. Barrows which had shops at Five Ways and in Harborne High Street in the late 1950’s. Eventually, Barrow’s Stores Ltd was sold, in 1966, to Fitch Lovell, then a larger supermarket chain. Fitch Lovell themselves were sold to Booker in 1990 for £300million becoming Booker Group Limited.
Original Privity Guarantee Key Markets Limited was sold to Co-operative Group Food Limited
Current rent of £38,500 per annum (£7.25 psf)
14 year reviews to OMRV of ground floor supermarket only (hypo term unexpired residue)
Next review 22nd April 2025 – Estimated Rental Value of circa £70,000 per annum (£13.15 psf)
Quoting offers in excess of £750,000 (STC)
4.87% Net Initial Yield, and 8.86% Reversionary Yield
