Commercial Property
This represents a rare opportunity to acquire a prominent Freehold City Centre building with development potential, subject to planning.
It has been in the current ownership since 1980.
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The property occupies a prominent frontage to Berry Street through to Princess Alley at the rear. The property is situated within the King Street, Princess Street and Queen Street area of Wolverhampton City Centre, lying at the rear of the Grand Theatre, with a good mix of pubs, restaurants and shopping within the immediate vicinity.
Wolverhampton Bus, Railway and Metro Stations are all within close proximity.
Property Description
Value Added Tax
The property comprises a prominent, attractive Grade II Listed Building. Formerly known as the Rendezvous Restaurant which regularly hosted Celebrities, Dignitaries and Royalty, it is understood that both Sir Winston Churchill and the Queen Mother dined at the Rendezvous in years gone by.
It has in more recent years been a long established Indian Restaurant, which on the ground floor offers a bar area, waiting area and 60 cover dining area, with a large commercial kitchen and preparation areas. There is a store room, staff WC and gents cloakroom. On the first floor, there is a function room with a further 60 covers and bar, ancillary stores and ladies cloakroom.
At the rear and known as 40 Princess Alley, there are five attractive work studios over part ground and first floor, with a shared kitchen and WC.
On the second floor and with access from the rear, there are two spacious self contained flats, each comprising hall entrance, kitchen, dining/living room, bathroom with WC, a double bedroom and two single bedrooms.
We understand that VAT will not be chargeable upon this transaction.
Commercial Vacant Possession
An Attractive Freehold City Centre Mixed Use Investment Opportunity Comprising a Spacious Two Storey Restaurant, Five Work Studios and Two Apartments, having development potential subject to planning permission
Current Rental Income: £39,700 pa.
We understand that the property is Freehold and is being sold subject to the existing tenancies.
Strictly by arrangement with the Auctioneers.
