(GROSS YIELD 10.6%)
6 Week completion
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).
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.
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
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.