Mixed Use for sale

Lichfield Street, Walsall, West Midlands, WS1

Under Offer £500,000
2,000–4,560 sq. ft.

Property Description

Commercial information

  • 2,000 sq ft (185 sq m)
  • Use class orders: A3 Restaurants and Cafes, A4 Drinking Establishments, A5 Hot Food Take away and D2 Assembly and Leisure

Key features

  • Substantial town centre commercial investment property with potential.
  • VAT will be payable upon the purchase price.

Full description

LOCATION: The property is situated on the eastern side of Lichfield Street, Walsall, opposite the Town Hall, within approximately three hundred metres of the pedestrianised retailing centre of the town.
DESCRIPTION: The property comprises an attractive, substantial, three storey, Listed Building, with two and single storey sections adjoining toward the rear, together with a battery of six garages, a detached single storey industrial unit and an enclosed car park at the rear accessed from off Intown.
ACCOMMODATION:
Ground Floor:
Nightclub/bar premises trading as "Manhattans". GROSS INTERNAL FLOOR AREA: APPROXIMATELY 4,560 SQ.FT. (423.62 SQ.M.)
Restaurant/Hot Food Takeaway Premises, previously known as "Oysters Fish Bar". Front customer service/dining area. NET INTERNAL FLOOR AREA: APPROXIMATELY 757 SQ.FT. (70.32 SQ.M.). Male and female customer toilets. Preparation area approximately 196 SQ.FT (18.20 SQ.M.). L-shaped rear kitchen approximately 250 SQ.FT. (23.22 SQ.M.).
Detached rear single storey industrial unit occupied by "Jardine Walker Limited"
GROSS INTERNAL FLOOR AREA APPROXIMATELY 2,400 SQ.FT. (222.96 SQ.M.)
First Floor:
Gym, trading as "Simkin Martial Arts Academy", accessed via staircase from off Lichfield Street. Front reception area with changing rooms off. Open plan gym/training area. GROSS INTERNAL FLOOR AREA APPROXIMATELY 2,000 SQ.FT. (185.8 SQ.M.) with additional 1,602 SQ.FT. (148.82 SQ.M.) on the ground floor below, presently used for storage purposes, although to be converted into a further gym area.
Self contained suite of offices, arranged principally over the first and second floors, being accessed via an entrance hall from off the pavement in Lichfield Street. NET INTERNAL FIRST FLOOR AREA APPROXIMATELY 1,235 SQ.FT. (114.73 SQ.M.). NET INTERNAL SECOND FLOOR AREA APPROXIMATELY 683 SQ.FT. (63.45 SQ.M.)
TOTAL NET INTERNAL OFFICES FLOOR AREA APPROXIMATELY 1,918 SQ.FT. (178.18 SQ.M.
We understand that the battery of garages at the rear are presently being used by the owner for storage purposes.
SERVICES: Usual mains services are understood to be connected or available to the property, although no tests have been applied to any of the services or appliances.
RATING DATA: (information obtained from the Valuation Office Agency Web Site):
Manhattans - 133 Lichfield Street - Rateable Value: £30,000 Description: Club and Premises
Restaurant/Hot Food Takeaway Premises - Rateable Value: £11,500 Description: Café and Premises
Rear of 133 Lichfield Street - Rateable Value: £7,800 Description: Warehouse and Premises
First Floor 133 Lichfield Street - Rateable Value: £5,400 Description: Gymnasium and Premises
Ground Floor 133 Lichfield Street - Rateable Value: £4,050 Description: Gymnasium and Premises
First and Second Floor Offices 133a Lichfield Street - Rateable Value: £18,000 Description: Offices and Premises. Interested parties are advised to make their own enquiries of the Local Authority in respect of the above.
TOWN PLANNING: Interested parties are advised to make their own enquiries of the Local Authority Planning Department.
TENANCIES: The Nightclub/Bar is occupied by tenants, holding over under the terms of a previous lease, at a rental of £20,000 per annum exclusive.
The restaurant/hot food takeaway premises is presently vacant and being offered to let at £13,000 per annum exclusive.
The rear single storey industrial unit is occupied by tenants, holding over the terms of a previous lease, presently paying a rental of £5,400 per annum exclusive. The first floor gym is occupied by tenants at a rental of £4,160 per annum. A new nine year lease has been agreed in respect of the first floor gym at a rental of £4,992 per annum exclusive, with the tenants taking a new lease in respect of the ground floor space below at a rental of £624 per annum for the first year, £1,248 per annum for the second year and £1,872 per annum exclusive for the third year.
The first and second floor offices are presently vacant and being offered to let based upon an asking rent of £13,000 per annum for the first year.
Total rental income - £29,560 per annum, due to increase to £31,016 per annum exclusive upon completion of the gym leases. Estimated total rental income when fully let approximately £55,000 per annum.
TENURE: Believed Freehold.
VAT: VAT will be payable upon the purchase price.
VIEWINGS: Contact Fraser Wood Commercial on 01922 629000.
Please note that all parties viewing the property do so at their own risk and neither the vendor nor the agent accept any responsibility or liability as a result of any such viewings.


More information from this agent

Nearest stations

  • Walsall (0.3 mi)
  • Bescot Stadium (1.8 mi)
  • Tame Bridge Parkway (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fraser Wood Commercial, Walsall

16 Lichfield Street, Walsall, WS1 1TS

01922 321058 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

  • Walsall (0.3 mi)
  • Bescot Stadium (1.8 mi)
  • Tame Bridge Parkway (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fraser Wood Commercial, Walsall

16 Lichfield Street, Walsall, WS1 1TS

01922 321058 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 133LICHFIELDSTREETWALSALL. 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 Fraser Wood Commercial, Walsall. 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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