Commercial Property for sale

69 Dudley Street, West Bromwich,West Midlands, B70

Guide Price 3,768 sq. ft. | £550,000

Property Description

Commercial information

  • Use class orders: A1 Shops

Key features

  • Let to National Charity on a ten year FRI lease.
  • Producing 37,500 per annum.
  • 3,768 sq. ft
  • On site dedicated car parking
  • NIY of 6.50% after deducting purchaser costs of 4.89%

Full description

Tenure: Freehold

DESCRIPTION
The property is a single storey, brick built stand alone unit with 21 car parking spaces. Internally the property offers open plan retail space with suspended ceilings with recessed lighting and air conditioning.

LOCATION AND SITUATION
West Bromwich, with a population of 146,000, is a retail and commercial town is located some five miles to the north-west of Birmingham and forms part of the West Midlands conurbation. The town has undergone massive regeneration is now home to 4 major shopping centres including the Astle Retail Park vibrant New Square, a multi-million showcase development. A long-standing market also features within the town with regular vintage and continental markets.

The property is situated on the A41 Black Country New road and is accessed via the Albion roundabout. Enjoying a premier location in West Bromwich, situated close to the motorway at Junction 1 of the M5 with swift and easy road, rail and bus links to the UK's second city, Birmingham.

TENANCY
The property is let in its entirety to The Salvation Army Trading Company, (a registered charity) on a 10 year FRI lease from June 2016.

The passing rent is 37,500 per annum with a rent review at the fifth anniversary.

TENURE
Freehold, subject to the exiting tenancy.

COVENANT INFORMATION
The Salvation Army Trading Company are a registered national charity (number 02605817), who reported an annual turnover of 44.109 million for the year end 31st March 2015.

PROPOSAL
Offers over 550,000 are sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 6.5% based on a current income of 37,500 per annum after deducting purchasers costs of 4.89% .

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

  • Dudley Street, Guns Village (0.1 mi)
  • Dartmouth Street (0.3 mi)
  • Black Lake (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

  • Dudley Street, Guns Village (0.1 mi)
  • Dartmouth Street (0.3 mi)
  • Black Lake (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 69_Dudley_Street_West_Bromwich. 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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