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Unit 13, 3 Liskeard Road, Walsall, West Midlands, WS5 3EY

Guide Price
£225,000

£139.66 per sq ft

Business rates & charges may apply

Bond Wolfe, Commercial Sales
SIZE AVAILABLE

1,611 sq ft

150 sq m

SECTOR

High street retail property for sale

Key features

  • Fully let Retail & Residential Investment opportunity
  • 920 sq. ft. Retail shop with 2 bedroom duplex flat above
  • Let for a term of 21 years, expiring 24/12/2028
  • Passing rent of £17,500 per annum
  • Guide Price - £225,000, equating to a net initial yield of 7.59%

Description

For Sale by private treaty.

Offers based on £225,000, are sought for the long leasehold interest. A purchase at this level, represents a net initial yield of 7.59%, allowing for usual purchasers' costs.

Mixed use Investment Opportunity

The property comprises a ground floor end parade retail property with a 2 bedroom duplex flat to the first and second floors. The shop extends to 920 sq. ft. (85.50 sq m) and currently trades as a Chinese takeaway. Accessed from the rear there is a 2 bedroom duplex flat situated over the first and second floors.

Accommodation
Ground floor shop - 825 sq. ft. (76.70 sq m).
First and second floors 2 bedrooms, lounge, kitchen, bathroom. The duplex extends to 785 sq. ft. (73.00 sq m).

Location
The property is situated in Gillity Shopping Village, a community shopping centre approximately 3 miles to the southeast of Walsall town centre. The property is strategically located to serve the surrounding densely populated residential area and sits adjacent to the King Arthur public house. The shopping centre, which comprises a wide variety of retail user types, benefits from customer car parking, accessed from both Liskeard Road and Treyamon Road.

Walsall is located approximately 10 miles north of Birmingham city centre and 8 miles east of Wolverhampton. The town benefits from excellent road communications located within 4 miles of the intersection of the M5/M6 motorways. Junction 9 and 10 of the M6 motorway lies within 2 miles of the western periphery of the town, thereby providing easy access to the remainder of the national motorway network.

Tenure
The property will be sold with the benefit of a new 999 year lease from completion, at a peppercorn ground rent.

Tenancy
The property is let in it's entirety to Yun San Lo, trading as Cantonese Express for a term of 21 years from 25/12/2007, expiring 24/12/2028. The passing rent is £17,500 per annum.

VAT
We are advised that VAT is not applicable.

Business Rates
The current Rateable value is £8,800. This is not the amount payable in business rates.

EPC
Available upon request.

Service Charge
There is a variable service charge payable by the occupational tenant towards the upkeep of the communal areas. Further details are available upon request.

Legal Costs
Each party are to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering
In accordance with Anti Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.

Energy Performance Certificates

EPC 1

Brochures

Unit 13, 3 Liskeard Road, Walsall, West Midlands, WS5 3EY

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Walsall Station1.9 miles
  • Tame Bridge Parkway Station1.8 miles
  • Bescot Stadium Station2.0 miles

About Bond Wolfe, Commercial Sales

1st Floor 75-77 Colmore Row Birmingham B3 2AP

Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.

We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and down the country. We work on behalf of a broad range of clients, including major corporate clients and private investors, as well as smaller organisations and independent landlords.

Notes

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