Under OfferGuide Price £325,000
116-126 Steelhouse Lane
Wolverhampton, West Midlands WV2 2AW
FREEHOLD RETAIL INVESTMENT
SUBJECT TO EXISTING LEASE, EXPIRING 2031
RENTAL INCOME £24,000 PA
Freehold Retail Investment, Let on Lease Expiring 2031.
This retail property is located on Steelhouse Lane, 1 mile south east of Wolverhampton City Centre, and presents an attractive retail investment. Situated opposite residential development within All Saints, the property is well placed to serve a local clientele. Furthermore, the land adjoining to the rear on Steelhouse Lane and Cable Street is undergoing development for housing, further improving this retail property's location. The property also has good transport links, with bus and tram stops within walking distance and the City Centre ring road less than 1 mile away.
This retail property comprises a single storey detached building of steel portal frame and brick construction, with a gated yard to the rear for services. The property is solely occupied by Alisha Supermarket.
Freehold, subject to a lease granted to Alisha Supermarket Limited. Lease terms summarised as follows:
Rent: £24,000 per annum.
Term: 15 years from 08/01/16.
Rent Review: Upward only open market rent review every 5th anniversary of the commencement date.
Break Option: 10th anniversary of the commencement date.
The Vendor will consider offers on either:-
a. £325,000, plus uplift on change of use, % to be agreed; or
b. £350,000, with no uplift.
Viewings are strictly by appointment with the selling agent, Bruton Knowles.
60 Church Street, Birmingham B3 2DJ
These particulars are intended as a general guide only and do not constitute any part of an offer or contract. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility. Intending purchasers or tenants should satisfy themselves as to the accuracy of all statements and representations before entering into any agreement. No employee or partner of Bruton Knowles has authority to make or give any representation or warranty in relation to the property.
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