Toni & Guy, 133 High Street, Solihull B91 3SR
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Prime high street investment located in the centre of Solihull.
Three storey retail unit extending in total to 1,918 sq ft.
The unit is let to Toni & Guy (South) Ltd on a 10 year FRI lease from 30 October 2022. Tenant has been in occupation for almost 30 years.
The tenant has a break option on 29 October 2027, subject to 6 months’ notice and paying a £25,000 penalty.
The passing rent is £45,000 per annum. There is a fixed increase from October 2027 to £50,000 per annum if the tenant break is not exercised.
We are instructed to seek offers in excess of £570,000 (Five Hundred & Seventy Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this price would reflect a net initial yield of 7.52%, assuming costs of purchase of 5.02%. There is a reversion to 8.36% from October 2027 when the rent increases to £50,000 per annum.
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