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222-224 High Street, Bloxwich

Offers Over £325,000

About this property

DESCRIPTION

The premises comprises two adjoining 3 storey brick built, mid terrace buildings.

No 222 High Street:
The ground floor have been extended into the enclosed rear courtyard and has a flat felt roof with gas central heating and suspended ceilings. The first and second floor consists of a number of individual rooms with a further attic area above. There is an external staircase in the rear courtyard providing separate access to the upper floors.

No 224 High Street:
This unit provides a retail outlet on the ground floor with stores to the first, second and attic floors (this building is held on a separate lease as described under tenure). There is an enclosed rear courtyard area behind both shop units with pedestrian access off the High Street.

LOCATION

The premises are located in a central position on the High Street, surrounding occupiers include a mix of national and local retailers and comprises Ladbrokes, Barclays, Subway, Halifax and Ethel Austin amongst others.

The property is approximately 1 1/2 miles from Walsall Town Central and 5 miles from Wolverhampton City Centre. Junction 10 of the M6 motorway is approximately 2 miles away.

TENANCY INFORMATION

222 High Street
Let to Zombar Ullah (T/A Delicious Indian restaurant) on a 25 year lease, expiring on 5th November 2034, at a passing rent of £11,000 per annum, subject to 5 yearly rent reviews and options to break (a 6 months notice).

224 High Street
Let to Robsco Solutions Ltd trading as Cash Converters on a 10 year lease from 21st January 2015, expiring 20th January 2025, at a passing rent of £16,000 per annum (subject to a rent review at the 5th anniversary).

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.

 

Key Features

  • A prominent High Street retail investment opportunity.
  • Let to two separate tenants.
  • A passing rent of £28,000 per annum.
  • Freehold - £325,000 representing a NIY of 8.32% after deducting purchaser costs of 3.57%
  • 2,366 Sq. Ft.

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