87-87A High Street, Harborne, Birmingham B17 9NR
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On behalf of Wesleyan, AP Investment has recently completed the sale of a long leasehold retail investment in the centre of Harborne High Street, Birmingham.
The large retail unit is occupied by Boots who have traded from the store for c. 40 years. The accommodation extends over ground and first floor and provides a total of 6,384 sqft of retail and ancillary space.
The unit is let on FRI terms to Boots UK Ltd on a 5 year lease from March 2021. The passing rent is £70,000 per annum.
The property is held on a long leasehold, sub lease from Harborne Retailers Management Company for a term expiring in 2112. There is a current ground rent payable of £13,728 per annum. The head long leasehold interest owns the wider retail parade and public car park to the rear from which rental income is generated.
The property was acquired by a private property company.
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