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Lot 43 Click here for addendum

(GROSS YIELD 11.1%)
6 Week completion

SITUATION

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).

PROPERTY

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.

ACCOMMODATION

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

FREEHOLD

TENANCY

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.

*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 Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 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.

36 & 48 High Street, Wednesfield, Wolverhampton, West Midlands WV11 1SZ