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For SalePOA

Investment Block 2-4 Waterloo Road and 79-83 Darlington Street, Wolverhampton

Residential, Retail, Offices, Office, Retail - High Street, Mixed Use, Other Property Types & Opportunities
Property type: Residential, Retail, Offices, Office, Retail - High Street, Mixed Use, Other Property Types & Opportunities
Tenure: Investment Opportunity, For Sale Freehold
Price: POA
Location: 2-4 Waterloo Road and 79-83 Darlington Street Darlington Street, Wolverhampton, WV1 4JD
Location
Wolverhampton lies to the north west of the West Midlands, with Birmingham 15 miles to the south east, Walsall 5 miles to the east and Telford 18 miles to the west. There is excellent access to the Midland motorway netwrok with Junctions 1 & 2 of the M54 being 4 miles to the north and Junction 10 of the M6 4 miles to the east.

The property is located within the Wolverhampton ring road occupying a prominent position with frontages to Waterloo Road, Darlington Street and Red Lion Street. The surrounding area comprises a mix of local and national operators ranging from accountants, solicitors, recruitment agents and solicitors to retailers to include House of Fraser.

Description
The premises comprise 4 separate properties in an unbroken block with the benefit of a small car park.

4 Waterloo Road (Waterloo House), comprises a 3 storey offices premsies of brick construction with pitched slate roof. The ground floor is currently occupied by an estate agents with the upper floors providing further office space and ancillary accommodation.

2 Waterloo Road and 79 Darlington Street (Stamford House) is again a 3 / 4 storey premises of brick construction with pitched slate roof. The ground floor and part first floor is occupied by an estate agent with access off Darlington Street. The remaining 1st, 2nd and 3rd floors are accessed via a shared entrance off Waterloo Road serving two suites of offices.

80 Darlington Street is a 3 storey premises with self contained ground floor trading as an estate agent with separate access to the 1st and 2nd floor offices.

81-83 Darlington Street (Trafalgar House) comprises 2 ground floor retail units (81 and 82 have recently been combined to create one unit) trading as an estate agent and recruitment agent. The upper floor office accommodation is again self contained with access from Darlington Street.

Accommodation and Tenancies
The property is currently 80% let to 8 tenants with a total rent passing of £127,450 per annum. There are currently three vacant office suites available totalling 3,756 sq.ft., which would add a further £18,750 per annum to the rent receivable based on £5 per sq.ft, with a potential further £3,750 from the letting of the vacant parking spaces. Once fully let the estimated rental value would be in the region of £156,500 per annum, exclusive.

A number of the tenants have been in occupation for several years with two long standing tenants currently renewing for a further term.

Please see attached tenancy schedule for further information.

Tenure
Freehold, subject to the current tenancies

Service Charge
A service charge is run in respect of the properties and further information is available on request.

Asset Management Opportunities
- Refurbish and upgrade vacant suites.

- Potential conversion opportunities of the vacant accommodation to residential subject to planning.

Pricing
We are seeking offers in the region of £1,600,000
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