About this property
A parade of 5 retail units fronting the main West Bromwich
High Street. To the rear of the parade there is a dedicated car park, providing access to the rear of the units.
LOCATION AND SITUATION
West Bromwich is a large ‘Black Country’ town located within the Metropolitan Borough of Sandwell and lying approximately 5 miles North West of Birmingham. The
property sits just 1 mile from Junction 1 of the M5 Motorway,
and within easy walking distance of the Town Centre, Metro and Bus Station. New Square, anchored by a 139,000 sq. ft. Tesco Extra store,has attracted key retailers including Next, JD Sports, H&M, Outfit and Primark, and offers a range of high street shops, cafes and restaurant by a new town square. There is a convenient link into New Square from the All Saints office development and Sandwell College which is a key footfall
driver. The premises benefit from prominent window displays
frontage onto the main High Street and lie within close
proximity to Astle Park, which acts as the primary retail hub
for destination shoppers in the area. Occupiers include Marks
& Spencers, Nike, Next and Gap. Other nearby occupiers include Subway, William Hill, Lloyds TSB, Britannia Building Society, NatWest and Barclays.
£1.45m is sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 9.43% based on a current income of £145,000 per annum after deducting purchasers costs of 6.08%.
Available upon request.
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful Purchaser.
- Fully let producing £145,000 per annum.
- Prominent position on West Bromwich High Street.
- 1 mile from Junction 1 of M5 motorway.
- 25,085 sq. ft over 2 floors.
- Freehold - £1.45m, representing a NIY of 9.43% allowing for purchasers costs of 6.08%