The property comprises a high street retail unit featuring ground floor sales with rear ancillary space. The building is of a brick construction and has a modern fully glazed store front providing a clear view into the shop.
Location
Stourbridge is a historic market town situated in the Metropolitan Borough of Dudley in the West Midlands.
The town is well connected by major roads including the A491 and A458 providing access to nearby towns and cities. The A491 connects Stourbridge to Wolverhampton to the northwest and Bromsgrove to the southeast, while the A458 leads to Bridgnorth and Stourport-on-Severn to the west. The M5 motorway is also easily accessible, providing convenient travel to Birmingham and other areas in the West Midlands.
Stourbridge is served by two railway stations: Stourbridge Junction and Stourbridge Town. Stourbridge Junction is the main station, offering connections to Birmingham (26 minutes), Kidderminster (10 minutes), and Worcester (35 minutes).
For air travel, Birmingham airport is approximately 25 miles to the east, serving as a major hub for various domestic and international flights.
The subject property is ideally located in the middle of the high street surrounded by a mixture of local and national retailers. Nearby occupiers include Tui, Starbucks, B&M, William Hill & Lloyds Bank.
Accommodation
NIA: 210.9 sq m / 2,270 sq ft
ITZA: 89.7 sq m / 965 sq ft
Terms
Proposal: We are instructed to seek offers in excess of £370,000 (Three Hundred and Seventy Thousand Pounds), subject to contract & exclusive of VAT. A purchase at this level reflects a net initial yield of 8.06% assuming standard purchaser's costs.
Rent: The rent is £31,000 per annum subject to review on 22/07/2030 on an upward only basis.
Lease: The property is let to Greggs Plc on a 10 year lease from 22/07/2025 expiring on 09/11/2035. There is a tenant break option on 22/07/2030 subject to 6 months' notice.
Tenure: The property is to be held on a new 999 year lease.
VAT: The property has been elected for VAT and VAT will therefore be applied to the purchase price.
EPC: EPC Rating B42. Certificate expiring 29/08/2033.
Specification
- The property is situated in a central location within the Stourbridge High Street
- Stourbridge has a population of 63,000 residents
- Nearby occupiers include Tui, Starbucks, B&M, William Hill & Lloyds Bank
- New 999 year leasehold at a peppercorn rental
- Let to Greggs plc on a new 10 year lease from 22/07/2025 with a break option on the 5th anniversary of the term.
- Undoubted plc covenant