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Wednesfield – Freehold Shop and Residential Investment

For sale: £235,000.00|2,030 Sq Ft|Residential, Retail - High Street, Mixed Use, Office, Retail, Other Property Types & Opportunities, Offices

Property details

FOR SALE£235,000.00
SIZE2,030 Sq Ft
ADDRESS102/104/114 High Street, Wednesfield, Wolverhampton, West Midlands WV11 1SZ
TYPEResidential, Retail - High Street, Mixed Use, Office, Retail, Other Property Types & Opportunities, Offices
TENUREFor Sale Freehold
POSTED ON31st May 2020

Description

Investment Consideration:
Rental Income: £12,240 p.a.
ERV when fully let: £17,260 p.a. (GIY ~ 7.34% )
VAT is NOT applicable to this property
An end of terrace building comprising Ground Floor Shop with separate rear access to 2 Self-Contained Flats on first and second floor.
First floor flat has been recently refurbished to a high standard.
Prominent location on one of the town's main shopping thoroughfares.
Occupiers nearby include Boots, Lloyds Pharmacy, Betfred, Greggs, Co-operative Funeral, Barclays, Nationwide, NatWest, Post Office and Heron Foods

Property Description:
An end of terrace building comprising Ground Floor Shop with separate rear access to 2 Self-Contained Flats planned on the first and second floor. The first floor flat has been recently refurbished to a high standard. In addition, the property benefits from use of a rear service area.

The property provides the following accommodation and dimensions:
Ground Floor Shop: 71.54 sq m (770 sq ft)
First Floor Flat: 52.00 sq m (560 sq ft)
Second Floor Flat: 65.00 sq m (700 sq ft)

Tenancy:
The shop is at present let to Image Squad Limited t/a Photographic Studio with a personal guarantee for a term of 3 years from 1st August 2019 at a current rent of £8,400 per annum and the lease contains full repairing and insuring covenants. The lease provides the tenant with an option to determine on the 31st July 2021. The first floor residential flat, No. 104, is at present vacant. The second floor residential flat, No. 114, is at present let on an AST to an individual that is holding over at a current rent of £3,840 per annum.

Location:
Located in the town’s main retailing thoroughfare, amongst such multiple retailers as Boots, Lloyds Pharmacy, Betfred, Greggs, Co-operative Funeral, Barclays, Nationwide, NatWest, Post Office and Heron Foods. In addition, there is an Outdoor Market along the High Street on Tuesdays, Wednesdays, Fridays and Saturdays. Wednesfield forms part of the Black Country area of the West Midlands conurbation approximately 3 miles north-east of Wolverhampton town centre with easy access to the both the M6 (Junction 10) and the M54 (Junction 1).

Location

marker
Location: 102/104/114 High Street, Wednesfield, Wolverhampton, West Midlands WV11 1SZ

Wolverhampton (1.8 miles)

Bloxwich North (3.2 miles)

Bloxwich (3.2 miles)

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