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Bridge House, 47-55 Bridge Street, Walsall, WS1 1JQ

Offers Over £3,500,000

About this property

The property comprises four retail units located on the ground floor with office space above, totalling 77,214 Sq. ft. Access to the offices is via one of the two large self contained  entrance lobbies on Bridge Street. To the rear of the property there is a secure  40 space car park .

 

Key Features

  • Substantial town centre investment and redevelopment opportunity.
  • Passing rent—£256,168 pa (ERV of £441,258).
  • Tenants include the secretary of state for the environment (law courts) occupying 26,428 sq. ft.
  • Total of 77,214 sq. ft.
  • Huge scope for conversion of upper parts to residential use (subject to planning consent).
  • Freehold.
  • Low capital value of £45 psf.
  • Net Initial yield of 6.87% (allowing for purchasers costs of 6.50% ) - reversionary yield of 11.80%.

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