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Lot 29
98 & 110 High Street, Wednesfield, Wolverhampton, West Midlands WV11 1SZ

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* Reserve below

£170,000

(GROSS YIELD 10.6%)
6 Week completion

SITUATION

Located in the town's main retailing thoroughfare amongst such multiple retailers as Lloyds Pharmacy, Betfred, Greggs, Shoe Zone, Co-operative Funeral, Barclays, Nationwide, NatWest, 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).

PROPERTY

A mid terraced building comprising a Ground Floor Shop with Ancillary Store on the first floor (see Note) and separate rear access to a Self-Contained Flat on the second floor. In addition, the property benefits from use of a rear service area.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 19'4''
Internal Width 18'2''
Shop Depth 55'11''
Built Depth 59'2''
Sales Area Approx. 950 sq ft plus WC
First Floor Store (see Note)
Area Approx. 230 sq ft plus Kitchen & WC
Second Floor Flat
1 Bedroom, Living Room/Kitchen, Bathroom & Separate WC
(GIA Approx. 560 sq ft)

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Boots UK Limited (having approx. 2,500 branches) (T/O for Y/E 31/08/16 £6.87bn, Pre-Tax Profit £523m and Shareholders' Funds £1.2bn) for a term of 5 years from 18th March 2016 (renewal of a previous lease - in occupation since 1982) at a current rent of £18,000 per annum exclusive.

Tenant's Break March 2019

Note: The first floor store in some of the other units in the parade have been converted into a flat.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £750 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.