21-27, Milk Street, BIRMINGHAM, West Midlands, B5 5TR

Leasehold detached commercial unit On a site area of approximately 0.178 acres (0.0724 hectares), GIA floor area of approx 651 sq m (7,010 sq ft), Investment By order of the LPA Receivers Location: The property is located in an established commercial area close to the City Centre on the corner of Milk Street and Rea Terrace. Public transport links include a choice of Birmingham Moor Street and Birmingham New Street mainline rail stations together a network of local bus services serving the surrounding vicinity. Road links include the A38(M), A41 and M6. An extensive range of shopping amenities, cafes, bars and restaurants can be found locally in Birmingham City Centre. Recreational pursuits can be found locally at the open spaces of Highgate Park, Garrison Lane Park and Kingston Hill Local Park. Description: Leasehold detached commercial unit, On a site area of approx 0.178 acres (0.0724 hectares) and with a (GIA) floor area of approx 651sqm ( 7,010 sqft). Accommodation: The auctioneers were unable to inspect the property at the time of going to print although believe it comprises the following accommodation: Floor Area: GIA approximately 651 sq m ( 7,010 sq ft) Prospective purchasers must rely on their own enquires in this respect. EPC rating: B Tenancy: The property is being offered for sale By the Order of the LPA Receivers. The property is let on an Underlease for a term of 25 years beginning on (and including) 25th November 2019 and ending on (and including) 24th November 2044 at a current rent of £70,000 per annum. Break dates 25th November 2025, 25th November 2030, 25th November 2035 and 25th November 2040. The LPA Receivers are not collecting rent. Prospective purchasers are referred to the legal documentation and must satisfy themselves in this regard. Rent reserved: £70,000 per annum Lease: Held on a lease for a term of 99 years from 12th December 1985 (Thus having approximately 59 years remaining) at a ground rent of £2,000 per annum – Refer to legal pack. Potential: The building may be suitable for as number of alternative uses subject to planning permission and consents. Prospective purchasers must rely on their own enquires in this respect.