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41-42a New Street & 36-42 Cannon Street, 41-42a, New Street, Birmingham, B2 4RQ
33,268 Sq Ft / Retail
Withdrawn - Last updated: 21 June 2021
Summary
PRIME HIGH STREET RETAIL INVESTMENT
Investment Summary
A rare opportunity to acquire a highly prominent prime high street retail scheme in Central Birmingham Birmingham is the UKs second city. It is one of the largest retailing and tourist centres in the country, with an estimated shopping population of 665,000 and a tourist economy that generates in excess of 39 million visitors per year Positioned at the heart of Birminghams prime retail core, fronting New Street and in close proximity to Grand Central Shopping Centre, Bullring and Apples flagship store Well configured block of 6 retail units with 3 fronting New Street and 3 fronting Cannon Street, extending to 3,091 sq m (33,268 sq ft) The property is let to 5 strong national covenants including Muji, Charles Tyrwhitt, White Stuff, Bravissimo and Jigsaw The property has an Average Weighted Unexpired Lease Term of approximately 6.2 years to expiry and 5.4 years to break, on the assumption of a 12-month Vendors rental guarantee on Unit 1 Total current passing rent of 896,265 per annum exclusive of VAT and inclusive of a Vendors rental guarantee Opportunity to improve rental income and increase the unexpired term through letting Unit 1 Freehold
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