About this property
Victoria House is a purpose built dedicated retail and office building with accommodation arranged over ground and two upper floors. The building has been refurbished to provide quality office space to the first and 2nd floors, with two High Street fronting retail units to the ground floor.
We are advised that the property is Freehold.
Available upon request.
We are advised that VAT is not applicable on this purchase
£795,000 is sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 7.63%, based on a current income of £64,000 per annum after deducting purchasers costs of 5.48%.
This building occupies a prominent positon on the main High Street in West Bromwich, directly opposite the Astle retail park where tenants include M&S & Nike it is also approximately ¼ mile from the main pedestrianised shopping centre.
The property is located within an extremely popular commuter area for the major motorways with junction 1 of the M5 being approximately 1 mile away. The property is also close to the new Tesco led New Square development which includes leisure facilities and a range of shops, cafes bars and restaurants. The property’s prominent positon is further enhanced by its close proximity to the Town’s main business & banking quarter.
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful tenant.
- Freehold Office / Retail Investment - 6,700 Sq. Ft.
- Prominent Town Centre Location.
- Close to Tesco led New Square development.
- Tenants include Connells Residential (T/A Paul Dubberley Estate Agents) on a new 10 year FRI lease.
- Rental Income - £72,100 pax.
- Freehold - £850,000 representing a NIY of 8.04% allowing for purchasers costs of 5.56% .