Vehicle dealership investment for sale in Solihull

This property is marketed by:
Colliers

Description

The property comprises a modern detached vehicle dealership constructed around a steel portal frame with profile clad elevations under a pitched profile clad roof.

The premises have been refurbished and improved in recent years and now provides for showroom with glazed elevations in part with supporting accommodation to the rear, including a range of offices and reception area, whilst to the rear of the building is a six-bay workshop.

There is further office and storage accommodation at first floor level and situated to the rear of the site is a detached valet bay.

There is parking throughout the site for over 75 vehicles.

The premises once refurbished will have the benefit of being fitted out as a Kia dealership.

Features:

• Modern purpose built car dealership providing 10,399 sq ft on 0.86 acres
• Excellent built accommodation to plot ratio of 11.29%
• Let to Allen Ford (UK) Limited on FR&I terms at an initial rent of £200,000 pax
• Creditsafe risk score for the covenant is 99/100, very low risk
• Strong alternative use values, namely for residential, care home or retirement living
• Offers in excess of £2,450,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.67% with purchaser’s costs of 6.37%