Whynot Service Station in Reddicap Heath Road, Sutton Coldfield, is going up for auction on July 11 with a guide price of £1.85m.
Auctioneers Bond Wolfe describe the business as a “prominent well let freehold motor trade investment property with petrol filling station with convenience store, MOT centre, valeting bay, residential accommodation and parcel lockers.” Current rental income is £174,520 per annum.
The Jet-branded forecourt has a four-square pump layout with generous frontage. There is a shop with off licence, which has a tiled floor, suspended ceilings, stock room, office and WC. The MOT centre comprises an entrance lobby, reception/waiting area, customer WC, main MOT/workshop bay with rolling road and four post vehicle lift. There is also an internal vehicle valeting bay.
On the first floor there is a further stock room for the petrol filling station and office for the MOT/repair centre. There is a separate area providing a communal landing, shared lounge, kitchen/dining area, two communal shower rooms and two bedrooms. On the second floor there are four further bedrooms.
Outside there are Inpost lockers and further private lockers. There is also a rear car parking area for approximately 15 cars.
The site is being sold freehold, subject to the following tenancies, all of which have 15-year lease terms, which run until April 2037, with a five yearly rent review (upwards only). KV Convenience Ltd operates the forecourt and shop and current rent per annum is £101,400. VRS Auto Ltd runs the vehicle repair workshop. Current rent per annum is £20,160. Reddicap Car Care Ltd operates the valeting bay. Current rent per annum is £20,160. And Care and Alliance Ltd has the living accommodation. Current rent per annum is £24,000.
Bond Wolfe says that there are informal arrangements in place in respect of the lockers, which produce a further income of £5,600 per annum. It stated: “We have not had sight of any documentation relating to the tenancies or income received, full copies and further information will be available within the legal pack.”
The auctioneer says the forecourt is considered to occupy an excellent trading position for its existing use and may be considered suitable for future development subject to any necessary planning permission.
Offers may be considered prior to the auction, which goes live at 8.30am on Thursday, July 11.
