Commercial Property
2
False
The property occupies a prominent frontage to the A462 High Road, at its junction with Greadier Street within a well established residential neighbourhood. High Road is a busy local route throughout the day and runs between Clarkes Lane and Bloxwich Road North.
The property is considered to occupy a good trading position for its existing use.
The property comprises a two storey end of terrace, of brick construction with a tiled roof. There is a large single storey extension to the rear, with a small yard and separate brick built store beyond. The property serves as a local convenience store and off-licence and is well presented with good storage, office and WC accommodation to the rear.
We have not undertaken a measured survey of the property, but understand that it extends to approximately 1,370 sq.ft. (127.30 sq.m.) or thereabouts. All interested parties should seek their own verification as to the area and dimensions.
On the first floor there is a flat comprising two bedrooms, lounge, kitchen and bathroom.
Commercial Investment
A Freehold Retail Investment Fronting a Busy Main Road
Current Gross Income: £18,000 pa.
We understand that the property is Freehold, subject to a Lease for 20 years with effect from 25th December 2012, with provision for a rent review every 5 years. The current rent passing is £18,000 per annum and the next rent review will be in 2017.
We have not had sight of the Lease documentation, but a copy will be available for inspection within the legal pack.
We understand that VAT will be chargeable on this transaction.
Strictly by arrangement with the Auctioneers. Please contact Ian Tudor on 0121 237 4850.
