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41-42a New Street & 36-42 Cannon Street

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41-42a, New Street
B2 4RQ Birmingham
Ref: 12732

  • 33,268.00 ft² (3,090.70 m²)
  • 15,150,000

Description

Description

• 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 UK’s 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 Birmingham’s prime retail core, fronting New Street and in close proximity to Grand Central Shopping Centre, Bullring and Apple’s 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 Vendor’s rental guarantee on Unit 1
• Total current passing rent of £896,265 per annum exclusive of VAT and inclusive of a Vendor’s rental guarantee
• Opportunity to improve rental income and increase the unexpired term through letting Unit 1
• Freehold

Energy Rating

Energy Rating

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Contact

Contact
Alex Cousins
Jonathan Heptonstall
Ben Kelly
  Details

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:

  1. The particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
  2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
  3. No person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
  4. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.

For properties in Scotland:

  1. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law.

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