Westside House web

Status: Available

Terms: For Sale

Price: £2,800,000

Yield:

Westside House, 123 Bath Row, Edgbaston B15 1LS

  • Birmingham is the economic and cultural powerhouse of the Midlands region, firmly established as the UK’s second city
  • Located in the heart of Fiveways, Edgbaston
  • The property comprises a modern petrol filling station, 3 storey office with telecoms mast totalling circa 14,622 sq ft (1,358.43 sqm)
  • Strong location fronting a main arterial route
  • Let to the exceptional 5A1 covenants of Shell UK Limited / Hutchison 3G UK Limited / Arqiva Limited with further options to asset manage vacant accommodation
  • Majority of the income has 16 years unexpired to Europe’s most valuable company Shell
  • Total passing rent of £131,125 per annum, with PFS OMV rent review due next year & uncapped RPI review on the telecoms mast
  • Revisionary in excess of £153,000 in 2020
  • We understand the property sells between 8.5 to 9.5 million litres of fuel per year and £1 million of shop sales
  • Potential to regear the Shell lease to expand the convenience offering for the entire ground floor (Shell have a partnership with Waitrose to offer forecourt convenience shopping), resulting in a further significant rental uplift
  • Vacant office accommodation comprising 8,295 sq ft, provides excellent scope for significant value add once the space is refurbished and relet to boost the total income
  • Scope for residential or student conversion STP
  • Site area of 0.53 acres (0.216 hectares)
  • Freehold
  • Strong alternative use options for long term wholescale redevelopment of the site to Student or Residential uses with surrounding schemes of up to 14 storeys
  • Offers in excess of £2,800,000 (Two Million Eight Hundred Thousand Pounds), subject to contract and exclusive of VAT.

PFS Investment - Bath Row, Edgbaston

123 Bath Row, Birmingham B15 1LS, UK
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