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80 Darlington Street, Wolverhampton, WV1 4JD

Guide Price
£295,000

Business rates & charges may apply

Bond Wolfe, Commercial Sales
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SECTOR

Commercial property for sale

Key features

  • Three storey town centre mid parade property.
  • Fully let producing £25,500 per annum.
  • Ground floor shop extending to 1,196 sq ft.
  • Two upper floors of offices extending to 1,464 sq ft .
  • Excellent asset management potential.
  • Full legal pack available.
  • Guide Price - £295,000, equating to a net initial yield of 8.37%

Description

For Sale by private treaty.

Offers in the region of £295,000 are sought. A purchase at this level would equate to a net initial yield of 8.37%, after usual purchaser's costs.

Freehold Town Centre Mixed-Use Investment Opportunity In Wolverhampton

The property comprises a three storey property incorporating a ground floor retail unit , and self-contained offices to the first and second floors, accessed via an independent door to the side of the shop.
The ground floor tenant undertook a comprehensive refurbishment of their demise last year, underlining their commitment to the property.

Accommodation
FLOOR - SQ.FT - SQ.M.
Ground - 1,196 - 111.2
First - 961 - 89.4
Second - 502 - 46.7
TOTAL - 2,659 - 247.3

Location
The property occupies a prominent mid parade position along Darlington Street , which leads directly off the main A4150 ring road. Centrally located, the property is situated close to numerous national retailers and The Mander Shopping Centre which comprises 440,000 sq ft and includes B & M , Greggs, JD Sports, Superdrug & Ryman.
Wolverhampton is situated in the West Midlands and is approximately 24 km (15 miles) northwest of Birmingham, 11 km (7 miles) west of Walsall and 29 km (18 miles) southeast of Telford.
Wolverhampton benefits from good road communications being approximately 8 km (5 miles) west of Junction 10 of the M6 Motorway and 3.2 km (2 miles) south of Junction 2 of the M54 Motorway. The A41 Black Country Route provides direct access to the M5 at Junction 1 which links Wolverhampton is connected to the national railway network with a fastest journey time of 17 minutes to Birmingham New Street and 1 hour and 40 minutes to London Euston. HS2 will cut the journey time to London to 49 minutes. Birmingham International Airport is located approximately 44 km (27.5 miles) to the south east of Wolverhampton which provides domestic and international flights.

Tenure
Freehold, subject to the existing tenancies.

Tenancy
The ground floor is let to Haart Estate Agents for a term of 10 years from 29/3/2015 at a passing rent of £15,500. Negotiations have commenced regarding a renewal of the lease.
The first and second floors are let to Promise Of Care Solutions for a term of 3 years from 24/9/2024, expiring 23/9/2027, at a passing rent of £10,000.
The total rent is £25,500 per annum
Haart is the UK's largest independent estate agent. Every year, Haart helps tens of thousands of people buy, sell, let or rent their home through its network of over 100 branches.
Promises of Care Ltd was established in 2014 to provide domiciliary services. The company has gradually extended its reach and is now able to offer services in Staffordshire, Cheshire East, Stoke on Trent, Telford and the surrounding areas. In 2019, Promises of Care Ltd added Supported Living services, with ready for placement accommodations in Dudley, Coventry, Birmingham, Telford, Worcester, Wolverhampton and Stoke on Trent. Their head office is based at the subject property

VAT
Any Vat applicable is in addition to any figures quoted, but if Vat is applicable, it is anticipated that the transaction will be dealt with by way of a TOGC.

Legal Costs
Each party is 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.

80 Darlington Street, Wolverhampton, WV1 4JD

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Wolverhampton St George's Tram Stop0.3 miles
  • Wolverhampton Station0.5 miles
  • The Royal Tram Stop0.7 miles

About Bond Wolfe, Commercial Sales

1st Floor 75-77 Colmore Row Birmingham B3 2AP

Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.

We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and down the country. We work on behalf of a broad range of clients, including major corporate clients and private investors, as well as smaller organisations and independent landlords.

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