Unit 4 & 5, 51-53 Liskeard Road, Walsall, West Midlands, WS5 3EY

For Sale by private treaty.

Offers based on £410,000, are sought for the long leasehold interest. A purchase at this level represents a net initial yield of 8.28%, allowing for usual purchasers costs.

Mixed use Investment Opportunity

The property comprises a ground floor double fronted end parade retail property with a self-contained 2 bedroom flat to the first and second floors. The ground floor is fitted out as an Indian restaurant and extends to 1,248 sq. ft. (116.00 sq m) and is currently let to a long term tenant, trading as Little India restaurant. Accessed from the rear, there are two 2 bedroom self-contained flats situated over the first and second floors.

Accommodation
Ground floor restaurant - 1,248 sq. ft. (116.00 sq m)
47 Liskeard Road - 2 bedrooms, lounge, kitchen & bathroom
49 Liskeard Road - 2 bedrooms, lounge, kitchen & bathroom

Location
The property is situated in Gillity Shopping Village, a community shopping centre approximately 3 miles to the southeast of Walsall Town Centre. The property is strategically located to serve the surrounding densely populated residential area and sits adjacent to the King Arthur public house. The shopping centre, which comprises a wide variety of retail user types, benefits from customer car parking, accessed from both Liskeard Road and Treyamon Road.

Tenure
The property will be sold with the benefit of a new 999 year lease from completion, at a peppercorn ground rent.

Tenancy
The restaurant is let to Aminui Islam, trading as Little India restaurant for a term of 20 years from 03/09/2022, expiring 02/09/2042 at a passing rent of £22,000 per annum.

47 Liskeard Road is let on an assured short hold tenancy at £7,980 per annum.
49 Liskeard Road is let on an assured short hold tenancy at £5,400 per annum.

The combined rental income is £35,380 per annum.

VAT
We are advised that VAT is not applicable.

Business Rates
The current Rateable value is £9,800. This is not the amount payable in business rates.

EPC
Available upon request.

Service Charge
There is a service charge recoverable from the commercial tenant towards the repair, upkeep and management of the communal areas. This is fixed at 12.5% of the overall service charge and further details are available upon request.

Legal Costs
Each party are to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering
In accordance with Anti-Money Laundering Regulations, two forms of identity, and confirmation of the source of funding will be required from the successful purchaser.