Commercial Property for sale

Victoria Works, Victoria Passage, Wolverhampton, West Midlands, WV1

Offers in Region of 3,702 sq. ft. | £275,000

Property Description

Commercial information

  • 3,702 sq ft (343 sq m)

Key features

  • Prominent Town Centre Location
  • Character filled property providing serviced office accommodation
  • Currently producing 36,00 per annum
  • NIY of 12.71% allowing for purchaser costs of 2.98%

Full description

Tenure: Freehold

DESCRIPTION
This 1930's building originally part of Beatties department store, now operates as a small business centre comprising of 6 self-contained contemporary work spaces. All work spaces benefit from natural light, large windows, high ceilings and wooden floor boards to complete the loft style.

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.

Based in the heart of the city centre of Wolverhampton and directly behind House of Fraser, the premises are conveniently located just seconds from restaurants, bars and clubs and only a few minutes walk from the Mander Shopping centre which currently going through a large refurbishment.

The property is conveniently located just near 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
1Rolling from 30/01/20129,000 per annum
2AVacant - Rent Guarantee 250 PCM for 12 Months3,000
2BVacant - Rent Guarantee 250 PCM for 12 Months3,000
2C12 Months from 01/10/20154,200
312 Months from 01/01/20167,200
412 months from 01/12/20159,600
Total 36,000
OPERATING COSTS
The vendor is responsible for on-going monthly operating costs to include; management, broadband, electricity and Business rates which equate to circa 5,000 per annum.

PROPOSAL
275,000 is sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 12.71% based on a current income of 36,000 per annum after deducting purchases costs of 2.98%.

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 (0.3 mi)
  • Wolverhampton (0.5 mi)
  • The Royal (0.6 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 (0.3 mi)
  • Wolverhampton (0.5 mi)
  • The Royal (0.6 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 Victoria_Works_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.

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