Commercial Property for sale

104 Crankhall Lane, Wednesbury, West Midlands, WS10

Offers in Region of £550,000

Property Description

Key features

  • Excellent Investment Opportunity
  • 2 separate retail units with 3 self contained flats above.
  • Private car park.
  • Scope for further development to the side.
  • Producing 37,600 per annum.
  • NIY of 7.18 after deducting purchaser costs of 4.7%.

Full description

Tenure: Freehold

DESCRIPTION
The property comprises a block of two ground floor retail units with 3 self contained 1 bedroom apartments above. The whole property has been refurbished throughout to now afford a high standard of accommodation. The whole property is tenanted as per the tenancy schedule below, providing an excellent investment opportunity.

There is potential for additional development to the side of the property, subject to obtaining the necessary planning permissions.

LOCATION
The property is situated in a prominent location on the busy Crankhall Lane in Wednesbury. Nearby occupiers include Betfred & Lloyds Pharmacy.

Wednesbury is, a market town in England's Black Country, part of the Sandwell metropolitan borough in the West Midlands. The retail parade is in close proximity to the densely populated residential suburb of Stone Cross, approximately 1 1/2 miles north of West Bromwich town centre. The property is located fronting Crankhall Lane, in close proximity to bus public transport links and Tame Bridge Parkway railway station.

TENANCY
PropertyTenantLease TermStart DateAnnual Rent
104B Crankhall LaneSandwiches Never to Baguette10 years02/09/201610,400
104A Crankhall Lane Rainbow Remy Hair Beauty and Tanning 5 years10/04/201610,400
Flat AW.chojnacka 6 month AST25/08/20165,400
Flat B S.Mbajiofor 6 month AST08/08/20165,700
Flat C H.Denny 6 month AST31/08/20165,700
Total 37,600


PROPOSAL
Offers in the region of 500,000 are sought for the freehold interest, subject to contract. This represents a Net Initial Yield of 7.18% based on a current income of 37,600 per annum after deducting purchasers costs of 4.7% .

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

  • Bescot Stadium (0.8 mi)
  • Tame Bridge Parkway (0.8 mi)
  • Wednesbury Great Western Street (1.2 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

  • Bescot Stadium (0.8 mi)
  • Tame Bridge Parkway (0.8 mi)
  • Wednesbury Great Western Street (1.2 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 104_Crankhall_Lane_Wednesbury. 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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