28A-36 Snow Hill, Wolverhampton

The property comprises a high yielding, multi-let, retail investment with a number of asset management opportunities.

Arranged as an unbroken freehold parade comprising 10 retail units with residential upper parts, the property is fully let at ground floor to 10 occupational tenants producing £64,750 per annum with an attractive WAULT of approx. 2 years to expiry.

We consider the property offers a number of asset management opportunities, with four tenants currently holding over, offering potential to improve both the rents and average lease term via renewal.

The current average passing rent reflects £13 per sq ft, however No. 33 Snow Hill recently let at a rent reflecting £18 per sq ft. We therefore there may be potential to improve the overall rent of the parade.

The upper parts of all units have been sold off on four idential long leasehold to Bronford Carinthia Housing Associateion for a term of 99 years expiring 13.07.2099 at a peppercorn rent. The current unexpired terms are therefore approx 74 years, offering potential for future extension premiums.

The parade lies to the west of Snow Hill, an arterial route providing vehicular and pedestrian access to the retailing heart of Wolverhampton from the ring road and surrounding residential area. The Mander Centre and Dudley Street, the prime retail amenity for Wolverhampton) are approximately 0.2 miles to the north.