• Highly prominent roadside location

• Secure income – let to Kwik-Fit (Pre-Tax Profits £99.9m)

• Sub-Tenant - Enterprise Rent-A-Car (Shareholders' Funds £223m)

• In excess of 8 years unexpired lease term

• Freehold

• Large site offering potential future redevelopment opportunity, subject to planning

• Low site cover of 17.6%

• £740,000, subject to contract

• 6% net initial yield

The property occupies a prominent roadside position on a major arterial route fronting Burnt Tree which extends to Dudley Port to the north and Birmingham Road to the south, after the Burnt Tree Junction.

The property is equidistant from Tipton town centre and Dudley town centre and sits on the A461 which connects the two towns.

The immediate vicinity is made up of a mix of residential accommodation (opposite) and industrial/retail warehousing accommodation (to the rear).

Nearby business include a Tesco Extra and petrol filling station, We Buy Any Car Dealer, Toolstation, Screwfix, Coneygre Industrial Estate, Showcase Cinema, Nandos, Pizza Hut, McDonalds, Premier Inn Hotel and various other complementary businesses.

Dudley Port Station is 0.8 miles (1.3 km) from the property and provides regular trips to London Euston with the fastest journey time being approximately 2 hours and 8 minutes.

The property comprises a single storey building and a large gated forecourt/car park with an outdoor canopy.

The building and forecourt has been split in order to accommodate the two subtenants (Enterprise Rent-A-Car and Thomas’s Group) and benefits from two separate entrances.

The property benefits from 3 roller shutters, and internal office, staff room and car servicing accommodation.

The total site area is approximately 0.75 acres (3,035 sq.m / 32,670 sq.ft).

The property benefits from a road frontage of approximately 420 feet (128 metres).

Low site cover of 17.6% offering future redevelopment potential, subject to planning.

Freehold.

The tenant’s ultimate parent company is Intochu Corporation who reported consolidated net profits of 501.3 billion yen (£3.66 billion pounds) to 31st March 2020. The company is ranked 72nd on the list of Fortune Global 500 companies with an annual trading revenue of $100.5 billion (£77.5 billion). For more information visit: www.itochu.co.jp/en.

Guarantor - Kwik-Fit Holdings Limited (00362333) has reported the following figures:

Tenant - Kwik-Fit Properties Limited (02579167) has reported the following figures:

Established in 1971, Kwik-Fits principal activities are the operation of automotive repair centres for tyres, exhausts, brakes, suspension, MOT, servicing and a fleet of mobile tyre fitting vehicles. The company operates from over 600 specialist fitting centres and 150 mobile fitting vehicles in the UK. For more information visit: www.kwikfit.com.

Sub-Tenant - Enterprise Rent-A-Car UK Limited:

Enterprise Rent-A-Car is a car rental company with more than 7,900 locations in 100 countries and 419 airports. The primary focus of the company is the local rental market, specializing in replacement cars as a result of accident, mechanical repair, theft and general hire. In 2008 the company was 21st on the Forbes list of ‘Largest Private Companies in America’.

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a freehold roadside investment

2. The property occupies a prominent roadside location;

3. The property provides secure income, being let to Kwik Fit (Pre-Tax Profits £99.9m);

4. Sub-Tenant (Enterprise Rent-A-Car) have reported shareholders’ funds of £223.6 m;

5. Attractive unexpired lease term in excess of 8 years;

6. 0.75 acre site;

7. Low site cover of 17.6% offering future redevelopment potential, subject to planning;

8. Opposite residential accommodation;

9. Ultimate parent company ranked 72nd on the list of Fortune Global 500 companies

10. Attractive lot size for an investor

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