The property comprises an end of terrace high prominent building erected probably in the 1920s/1930s.
The building is of a traditional brick construction under a clay tile roof. The property has been completely redecorated internally and is in good condition.
The accommodation of the building consists of a ground floor salon at the rear of which there is a further salon together with toilet and kitchen facilities. The first floor consists of three rooms, two of which have been sublet to a beautician on a tenancy outside the Landlord & Tenant Act Security of Tenure Provisions 1954. The premises benefit from upgraded toilet facilities at first floor level.
Location
The property is situated at the corner of Cliff Rock Road and Bristol Road South forming part of the A38.
The A38 Trunk Road is one of the main roads running out of the immediate area connecting with the M5 at Junction 4 and thereafter into the motorway network.
There are a variety of properties and trades fronting onto this main road. This property is situated a short distance to the west of Longbridge town centre and close to the area of Rubery. It is an area which has seen considerable regeneration during the last number of years.
The property occupies a highly prominent location at the junction of Bristol Road South and Cliff Rock Road.
Accommodation
Ground Floor Sales - 270 sq ft
Rear Salon - 165 sq ft
Kitchen - 43 sq ft
First Floor – Main Room - 168 sq ft
Secondary Room - 160 sq ft
Store/Office - 92 sq ft
Total Accommodation - 898 sq ft
Terms
Price
Offers are invited at £187,500 to show an initial yield of 8.55% before costs.
Please note that the vendor will top up the difference in rent between that passing of £14,000 and the headline rent commencing at the beginning of the third year of the term.
Lease
The property is let on a new full repairing and insuring lease to Tanya McCarron for a term of 10 years from 22 July 2026 expiring in July 2036. The rent is subject to an upward review at the end of the fifth year together with the tenant’s break.
The rent for the first 2 years is £14,000 increasing to £16,000 per annum in year 3 with an upward only open market rent review on 22 July 2031.
Rental Value
The current rent and lease was recently negotiated to the figures as stated above with the previous rent being some £12,000 per annum. An analysis of the rent passed using£3.50 on the first floor and £5 on the kitchen shows an overall rate of approximately £28 per ft².
Covenant
The property is let on a new full repairing and insuring lease to Tanya McCarron for a term of 10 years from 22nd July 2026. The rent is subject to an upward review at the end of the fifth year being 22nd July 2031, together with a tenant’s break date at 22nd July 2031. Since it is a private individual no credit references are available. The landlords however can confirm that the rent is paid regularly on time.
EPC
The current EPC expires in November 2035 and is Band D 81.
VAT
The property is not elected for VAT.
Legal Costs
Each side is to be responsible for their own legal costs.
Further Information
A copy of the lease and EPC certificate are available upon request.
Specification
- Let to an established hairdressers who have been in occupation since 2007
- Recently completed new 10 year FRI lease from 22 July 2026 expiring in 2036
- Upward only open market review as at 22 July 2031
- Rent for the first 2 years is £14,000 per annum rising to £16,000 per annum from year 3 until July 2031 whereupon there is an upward only open market rent review
- The vendor will top up the rent to the headline figure of £16,000 pa upon completion
- Offers invited at £187,500 to show a return of 8.5% on the rent of £16,000 per annum before costs
- Capital value approximately £209 per ft²
- The property is not elected for VAT