Commercial Property for sale in Caroline Street, Birmingham

Attractive retail investment opportunity yielding 9.47%. Let ground floor commercial premises with basement storage in the brand new Reliance Works, a beautifully restored three storey Grade II listed building situated in the historical heart of Birmingham's Jewellery Quarter.

Location - In the 18th century, Birmingham's famed Jewellery Quarter was a mix of workshops, factories and highly sought after residential addresses. Today, as a designated conservation area, its Georgian and Victorian heritage is being lovingly restored and redeveloped. Just a short walk from Birmingham's city centre, it combines listed building and narrow streets with exciting new architecture, shops, restaurants and creative trades with highly popular residential addresses. Faithful to its heritage, it also remains home to Europe's highest concentration of jewellers. The result is a truly unique urban village community, offering easy access to all the attractions and benefits of a major international city

Description - Ground floor self contained unit with WC circa 195.9 Sq. Ft (18.2SqM)

Reliance Works was built c1825, taking architectural inspiration from the grand Georgian houses in St Paul's Square - the spiritual home of the Jewellery Quarter.

Originally, Reliance Works comprised two townhouses - 41 and 42 Caroline Street - each serving as both a home and place of work for small family jewellers known as 'garret masters'. Former residents include two of Birmingham's most respected silversmiths: George Unite and Nathaniel Mills. The two houses were eventually acquired by Pickering and Mayall and converted into one single address - No 42 Caroline Street. By 1916, the building had been transformed into a flagship manufactory for jewellery cases.

Now, following a prestigious redevelopment, it has been transformed once more - this time, into a mix of nine one and two-bedroom duplexes and apartments and one commercial unit around an attractive ground floor courtyard. Retaining its classic Georgian styling and character - including timber beams, wooden bay windows and original signage - with exquisitely designed interiors it represents a rare example of the Jewellery Quarter's industrial heritage. It has been one of the area's most distinctive landmarks for almost 200 years.

Terms - The premises are being sold with tenant Ivy & Rose Gifts in situ on a new five year term with tenant break at the end of year three, with a six month notice clause backed by personal guarantee.
Rent - £9,000pa Payable quarterly in advance. Rent review to £10,000pa years 4-5

Lease 999 years plus share of freehold

Legal Costs - Each party is to be responsible for their own legal costs

Vat - We have been advised that VAT is applicable

Business Rates - To be advised. Small Business Relief will be applicable

Epc - Available upon request

Money Laundering - The money laundering regulations require identification checks to be undertaken by all parties purchasing or letting properties. We will therefore be requesting proof of identification for all the parties involved in the transaction.

Viewing - Strictly by prior appointment with Maguire Jackson

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