Two West Midlands properties hosting betting shops to go under the hammer at auction

Two West Midlands retail properties hosting Coral betting shops with combined rents of more than £50,000 a year are going under the hammer.

A shop at 544 Bearwood Road in Bearwood, Smethwick, which generates £27,821 rent a year, will have a guide price of £175,000+.

A premises at 214-216 and 216a Heathfield Road in Handsworth, Birmingham, which generates £25,000 rent a year, will have a guide price of £200,000+ in the live streamed Bond Wolfe auction on October 22.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “Both of these retail investments are great opportunities to continue hosting businesses owned by the established Coral betting shop empire.

“The freehold premises on Heathfield Road includes a shop and a self-contained flat, arranged over the ground and first floors.

“The shop has an open plan layout, finished to the tenant’s usual corporate specification, and this brings in £12,000 rent a year.

“The flat has its own independent access and includes two bedrooms, a bathroom, living room and kitchen, and this brings in another £13,000, making the total rent £25,000 a year.

“The freehold premises on Bearwood Road include a ground-floor betting office with separate wheelchair access, and a former flat on the first floor which presently has no access.

“The shop itself, extending to 1,220 sq ft, brings in £27,821 rent a year, and this is also fitted out to the tenant’s usual corporate design, with staff kitchen, customer and staff toilets.”

The Bearwood Road shop is on a 16-year letting with Coral Racing Ltd that runs until February 2027.

The property is in a prominent position on a busy local commercial parade that includes a mix of independent retailers, food and takeaway outlets, convenienc stores and service businesses.

The Heathfield Road shop is on a 10-year letting with Coral Racing Ltd, in place since 2017. Terms have been agreed for a new 10-year lease, with a break option on the fifth anniversary. The flat is let on an assured shorthold tenancy.

They are among scores of lots that are due to appear in Bond Wolfe’s next auction, which starts at 8.30am on October 22.

The auction will be live streamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.

For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email [email protected] or call 0121 312 1212 or 01902 928 510.