Property overview

112 High Street, Coleshill B46 3BL 

under offer

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Mar 2022

Retail, office & residential investment with consented development opportunities.


Located in Coleshill, a small town in North Warwickshire, located 11 miles east of Birmingham city centre and 10 miles north of Solihull. Coventry is 13 miles south east.  The town has excellent road links lying at the intersection of three motorways. The A446 Lichfield Road runs north-south connecting to the motorway junctions and beyond.


The property lies on the west side of High Street (B4177) in a central location within the town.  The courtyard development of 6,877 sq ft is partly let to three tenants on four leases with a retail unit & office suite vacant.


Current income is £38,200 per annum.


The property has full planning permission for conversion of the vacant part of the property to 2 x 1 bed and 2 x 2 bed apartments.  ERV, on basis of existing accommodation & re-letting of vacant units is £65,300 per annum.


Offers are sought in excess of £750,000. The price reflects an underlying capital value of only £103 per sq ft.


A purchase at this level would provide an initial yield of 4.83%, based on the current rent and allowing for purchaser’s costs of 5.45%.


There is a reversion to 8.26% based on re-letting the vacant units rather than pursuing the residential redevelopment option.


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St Pauls Office Investments Retail & Retail Warehousing investments