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Lot 18 Click here for addendum

Gross Yield 12.8%
6 Week Completion

Situation

Occupying a busy trading position in this city centre retail thoroughfare, opposite Beatties and amongst such multiples as Betfred, British Heart Foundation, Oxfam, Slug & Lettuce, Waterstones, HSBC and many more. In addition, the property is adjacent to the rear entrance to the Mander Centre Shopping Precinct, which also hosts a variety of established retailers including Matalan and Debenhams.
The City of Wolverhampton is located approximately 12 miles north-west of Birmingham city centre and enjoys good road links via the M6 (Junction 10) and M54 (Junction 2).

Property

A mid-terraced building comprising a Ground Floor Restaurant with internal access to Ancillary Accommodation at first floor level. In addition, there is a Deed of Grant that enables the property to use a communal service area in the basement of the adjoining Mander Centre Shopping Precinct for the purposes of loading/unloading (refer to Legal Pack).

Accommodation

Ground Floor Restaurant (68 Covers)
Gross Frontage 33'11”
Internal Width 28'8” (max)
Shop & Built Depth 66'10”
Area Approx. 1,515 sq ft
Disabled WC
First Floor Ancillary
Area Approx. 1,060 sq ft¹
Male & Female WCs

Total Area Approx. 2,575 sq ft
¹ Area from VOA

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to D. A. Pawelski as a Polish Restaurant for a term of 5 years from 1st February 2019 at a current rent of £16,000 per annum exclusive.

Tenant's Break 2022

*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.

10 Victoria Street, Wolverhampton, West Midlands WV1 3NP