The property comprises a substantial two storey factory premises with three storey offices on the western elevation. The warehouse has been converted to provide self-storage accommodation with the offices split to be let as serviced offices. It benefits from a goods lift to the first floor.
The majority of the warehouse is of concrete framed construction beneath a felt covered concrete roof with the exception of the frontage which is constructed of north lit steel frame bays.
The unit benefits from a secure yard with a separate entrance and exit, front elevation off road parking and at the rear there is a concrete ramped loading area with canopy and a second loading bay both with electric roller shutter doors.
There is income from the aerial mast which is currently producing £7,569 pa exc VAT. This is let to EE Limited for a term of 20 years expiring 29th August 2022. The tenancy is subject to five yearly RPU linked rent reviews.
Location
The property occupies a highly visible location on the popular dual carriageway Kingsbury Road (A38), just off the Tyburn House Island close to J5 M6.
The building is located in an established commercial area with Birmingham City Centre located approximately 5 miles to the south west. J5 of the M6 motorway is located a mile south of the property and access to the M42 is approximately 4 miles east. The major Castle Bromwich Jaguar plant is approximately 600 meters West.
Accommodation
The accommodation has been measured on a gross internal area basis in accordance with the RICS Code of Measuring Practice (6th Edition).
Warehouse Ground Floor - 25,946 sq ft (2,410.44 sq m)
Warehouse First Floor - 17,088 sq ft (1,587.51 sq m)
Offices First Floor - 3,387 sq ft (314.66 sq m)
Offices Second Floor - 3,387 sq ft (314.66 sq m)
Total - 49,808 sq ft (4,627.27 sq m)
Terms
Tenure - Freehold
Price - Offers are invited in excess of £1.75m
VAT - The property is elected for VAT purposes and therefore VAT will be applicable to the sale price.
Energy Performance Certificate - Available on request.
Tenancies - The self storage facility currently generates a gross income of £15,820.45 per month (£189,845.40 per annum).
The serviced offices are let on a flexible licence agreements are generating £76,518 per annum.
Specification
- Freehold Property in Prominent Location
- Potential for alternative uses
- 49,808 sq ft (4,627.27 sq m) on 1.25 acre site
- Existing storage business turns over £15,000 per month, unit available with all fixtures and fittings and existing storage tenants. Potential to double turnover.
- Income of £7,569 pa from roof top aerials.
- Two storey concrete framed building. The majority of the warehouse is currently fitted out as self-storage accommodation.
- Offers in excess of £1.75 million exclusive of VAT