27-31 Park Street, Walsall, West Midlands, WS1

Location

Situated at 27-31 Park Street, Walsall, WS1 1LY, this property enjoys a prime position on Walsall's main retail thoroughfare. Unlike most High Streets, Walsall boats one of the busiest high streets in the midlands with strong footfall rates, making it an ideal retail destination for a number of national retailers, banks and food & beverage operators. Nearby operators consist of Nat West Bank, Barclays Bank, Mcdonalds, Boots and Specsavers.

Description

This substantial retail premises comprises multiple units currently let to a number of tenants, including a prominent recently renewed tenancy with Three, the mobile network operator. The premises have been extensively renovated and freshly decorated. Each unit comprises a prime ground floor retail unit with welcoming sales areas flooded with natural and LED lighting along with storage/ancillary space and rear service yards. These units have been built/renovated to suit all needs of the modern commercial occupier looking to capitalise on Walsall's thriving High Street and nearby Saddler's Shopping Centre. All units are currently let with Three and Charlie Browns also occupying the first and second floors. It is anticipated 27 Park Street (smallest unit - former Thorntons) may be coming available shortly with an estimated rental value of £25,000 per annum.
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Investment Highlights

* Current rental income: The property generates a gross annual income of £176,000.

* Recently renewed lease with Three, highlighting strong trading revenues and robust demand for the location and premises.

* Asset management opportunities through lease regearing and residential conversion of the upper floors (STP). Providing value add opportunities.

* Recent refurbishments: The property has been extensively refurbished including new roof, new LED lighting system and suspended ceilings etc enhancing its appeal to potential tenants and reducing future capital expenditure.

Tenure

The property is offered for sale with freehold tenure.

Price

Price on application (POA).

VAT

We are advised VAT is payable on the purchase price. All figures quoted are exclusive of VAT.

EPC

27 Park Street - D 89
29 Park Street - E 117
31 Park Street - D 83

Legal Costs

Each party will be responsible for their own legal and professional costs incurred.

Anti Money Laundering

We will require two forms of ID as well as confirmation of the source of funds from the successful applicant

Viewing

Strictly by appointment via sole agents.