91a Alcester Road, Moseley
Prime Restaurant Investment on New 25 Year Lease
On behalf of Birmingham Properties Group, Bruce Gillingham Pollard successfully disposed of a prime leisure investment in Moseley town centre.
The affluent location is ever improving, multiple nationals require space in the town and this will start moving rents overtime allowing for both rental and capital growth.
Moseley’s evening economy is become ever more enhanced which further ensures that Moseley becomes an entertainment destination for residents and visitors alike.
The building was formerly an auto repair centre which our client asset managed to provide a standalone, single storey unit measuring circa 3,500 sq. ft.
The property benefits from a large outside area to the rear of the property of circa 1,500 sq. ft. and a large seating area to the front which is included in the Freehold title.
The unit is single let to Prezzo Limited for a term of 25 years from February 2016. Passing rent is £65,000 per annum and there is a tenant only break at the 15th anniversary of the lease. The lease benefits from 5 yearly upward only open market reviews.