Commercial Property for sale

The Pressworks, Berry Street, Wolverhampton, West Midlands, WV1

Offers in Region of 4,800 sq. ft. | £600,000

Property Description

Commercial information

  • 4,800 sq ft (445 sq m)
  • Use class orders: B1 Business

Key features

  • Prominent City Centre Location
  • Character building utilised for services offices
  • Currently producing 65,880 pax with potential in increase
  • Gross yield of 10.45%

Full description

Tenure: Freehold

DESCRIPTION
This stunning and lovingly restored eighteenth century building which is operating as a very well established serviced office, based in Wolverhampton City Centre.

The building is approximately 4800 sq ft which is broken up into different size contemporary work spaces ranging from 150 - 600 sq ft.

LOCATION AND SITUATION
Wolverhampton is a major centre with a residential population of some 258,000 situated around 12 miles north-west of Birmingham city centre. Junction 10 of the M6 Motorway is some 5 miles and Junction 2 of the M54 is some 3 1/2 miles from the town centre.

The property is situated on Berry Street within the conservation area in the heart of Wolverhampton city centre.

The property is conveniently located just 0.2 miles from both Wolverhampton railway station which is currently undergoing a 100m redevelopment and the Wolverhampton Bus Station both within a close walking distance.

TENANCY
Studio NoLease StartCurrent Rent
B1Meeting Room - Vacant-
B212 months rolling from 03/01/20132,400
B3Rolling from 01/04/20162,880
B4Monthly rolling from 06/11/20152,400
B5Quarterly rolling from 01/12/20141,500
1, 2 & 312 months from 10/05/20156.900
46 months from 09/07/20163,600
56 months, now rolling quarterly from 20/04/20093,000
66 months from 07/05/20142,700
7, 8 & 9 Vacant-
10Rolling from 22/06/20153,840
12Rolling from 20/02/20153,600
1512 months from 01/05/20163,000
16Meeting Room - Vacant-
16a6 months from 03/10/20162,340
17Rolling from 24/07/20143,720
1812 months from 01/01/2014 2,400
196 months from 05/12/20163,000
Gallery Rear12 months from 01/01/20144,500
Gallery Front12 months from 01/10/20153,900
Mezzanine12 months from 01/10/20146,600
Total 65,880
PROPOSAL
600,000 is sought for the freehold interest, subject to contract. This represents a Gross Yield of 10.45% based on a current income of 65,880 per annum.

VAT
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.

EPC
Available upon request

More information from this agent

Nearest stations

  • Wolverhampton St George's (0.1 mi)
  • Wolverhampton (0.2 mi)
  • The Royal (0.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Wolverhampton St George's (0.1 mi)
  • Wolverhampton (0.2 mi)
  • The Royal (0.4 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bond Wolfe, West Bromwich

8th Floor West Plaza, 144 High Street, West Bromwich, B70 6JJ

0121 396 0838 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference The_Pressworks_Berry_Street_Wolverhampton. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe, West Bromwich. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.