Lot 43 details
(GROSS YIELD 11.1%)
6 Week completion
Located opposite the junction with Church Street on the town's main retailing thoroughfare, adjacent to Co-operative Funeral Care and amongst other such multiples as Lloyds Pharmacy, Betfred, Boots, Greggs, Co-operative Funeral, Barclays, Nationwide, NatWest, Shoe Zone, Post Office and Heron Foods. In addition, there is an Outdoor Market along the High Street on Tuesdays, Wednesdays, Fridays and Saturdays.
Wednesfield forms part of the Black Country area of the West Midlands conurbation approximately 3 miles north-east of Wolverhampton town centre with easy access to both the M6 (Junction 10) and the M54 (Junction 1).
Forming part of a parade comprising a Ground Floor Shop with internal access to Storage on the first and second floors. In addition, the property benefits from recently installed uPVC double glazing and use of a communal rear service area for unloading.
Ground Floor Shop
Gross Frontage 17'10''
Internal Width 16'3'' (max)
Shop & Built Depth 39'11''
First Floor Store
Area Approx. 165 sq ft
Kitchenette & WC
Second Floor Store
Area Approx. 285 sq ft
VAT is NOT applicable to this Lot
The entire property is let on a full repairing and insuring lease (subject to a schedule of condition - no schedule in evidence) to Mr & Mrs K Phillips as a Card Shop for a term of 4 years from 25th March 2016 at a current rent of £15,000 per annum exclusive.
Tenant's Break March 2019 (see Note)
Note: The tenants did not operate their 2017 and 2018 Break Clauses.