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For Rent£12,000.00 Per Annum
Two-storey retail premises in town centre location with dual shop frontage. Includes first floor storage and substantial full height attic space. Upper floors have redevelopment potential for conversion to residential accommodation, subject to planning consent. Ground floor could be split to provide two or more separate retail units. Available to rent or purchase freehold with vacant possession.
6 Crown Street, Wellington, Telford, TF1 1LP
Type: Retail, Residential, Flat, General Retail, Retail - High Street, Shopping Centre Unit, Mixed Use, Other, Other Property Types & Opportunities
6 Crown Street, TF1 1LPGBTelfordShropshireTF1 1LP6, Crown Street
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
Investment Block 2-4 Waterloo Road and 79-83 Darlington Street, Wolverhampton
Type: Residential, Retail, Offices, Office, Retail - High Street, Mixed Use, Other Property Types & Opportunities
2-4 Waterloo Road and 79-83 Darlington Street Darlington Street, Wolverhampton, WV1 4JDGBWolverhamptonWest MidlandsWV1 4JD2-4 Waterloo Road and 79-83 Darlington Street, Darlington Street
Freehold retail and first floor self contained office investment part vacant. Modern town centre building with rear delivery access. Scope for refurbishment. Duke Street is centrally located in the main retail area of Wellington with the important Wellington Retail Market nearby together with a range of multiple concerns including Lloyds TSB, Subway, Coral Bookmakers, Halifax etc in close proximity. There are a range of free public car parks a short distance from the property. Wellington is the principal district centre of Telford which has a total population of about 120,000.
Duke Street, Wellington, Telford, Shropshire
Type: Office, General Retail, Retail - High Street, Retail, Mixed Use, Offices, Other Property Types & Opportunities
8 - 10 Duke Street, Wellington, Telford, TF1 1BJGBTelford and Wrekin, TelfordShropshireTF1 1BJ8, Duke Street