Commercial Property for saleCroxstalls Road, Bloxwich, Walsall, WS3 2XU
Guide Price* £175,000
- A Freehold Industrial Investment comprising Four Units with Car Parking Current Rental Income: £20,560 pa
- We understand that the property is Freehold subject to the following tenancies.
For Sale By Auction on 8th December 2016
A Freehold Industrial Investment comprising Four Units with Car Parking
Current Rental Income: £20,560 pa
We understand that the property is Freehold subject to the following tenancies.
The property comprises an older original brick built railway building which has been converted to provide a terrace of four industrial units with forecourt parking to the front. Units 1 & 4 benefit from fenced and gated yards. Each unit has a roller shutter access.
The property lies to the eastern side of Croxstalls Road within a well established commercial environment a short distance west of Bloxwich town centre.
Bloxwich benefits from good access to the Midland and national motorway network lying approximately 4 miles from the M6 motorway between junctions 10 and 11.
|Unit 1||840 sq.ft.|
|Unit 2||1,980 sq.ft.|
|Unit 3||990 sq.ft.|
|Unit 4||1,720 sq.ft.|
We have not undertaken a measured survey of the premises and all interested parties should seek their own verification as to floor areas and dimensions.
|Unit 1||Let by way of a 3 year Lease with effect from the 1st November 2016. Current Rent £4,000 per annum.|
|Unit 2||Let by way of a 3 year Lease with effect from the 1st November 2016. Current Rent £6,000 per annum.|
|Unit 3||Let by way of a 3 year Lease with effect from the 1st November 2016. Current Rent £3,960 per annum.|
|Unit 4||Let by way of a 3 year Lease with effect from the 1st November 2016 to R & J Engineering. Current rent £4,800 per annum for the first 12 months rising to £6,600 per annum in year 2. The Vendor will make a contribution which will equate to the full rent of £6,600 being paid in year 1.|
We understand that the tenants of units 1, 2 and 4 are longstanding and have been in occupation for considerable time.
We have not had sight of the legal documentation in respect of the above and all interested parties should seek their own verification by referring to the Legal Pack where the Leases will be available for inspection.
* Definition of Guide Prices
The guide price is an indication of the seller’s reserve price and is given to assist prospective purchasers. It is usual, but not always the case, that a provisional reserve is agreed between the seller and the auctioneer at the start of marketing. The guide price can be adjusted by the seller at any time up to the day of the auction in light of the interest shown during the marketing period. The guide price can be shown in the form of a minimum and maximum price range within which an acceptable price (reserve) would fall. Please note the reserve price will not exceed the top end of the guide price but the actual sale price can exceed the guide price. On occasions the sale price does exceed the guide price significantly.
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
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