Applegreen Quinton
Hagley Road West, Quinton, Birmingham B32 2AL
Investment Summary
- Established Applegreen-branded forecourt and convenience store with Costa barista counter on a highly prominent corner plot
- Situated directly off a busy roundabout junction on the A456 Hagley Road West on the western outskirts of Birmingham
- Prime roadside retail location with Domino’s Pizza, Greggs, KFC and McDonald’s all nearby
- Let to Petrogas Group UK Limited (t/a Applegreen), one of the largest independent fuel retailers in the UK
- Applegreen has recently been taken private by Blackstone Infrastructure Partners
- Long lease with 14.5 years until expiry
- Passing rent of £185,000pa secured at the 15 August 2021 open market rent review (up 23%)
- Subject to further five-yearly upward only open market rent reviews in 2026 and 2031
- We are seeking offers in excess of £2,780,000 (Two Million Seven Hundred and Eighty Thousand Pounds). A purchase at this level reflects an attractive Net Initial Yield of 6.25% (assuming purchaser’s costs of 6.42%)