215 Walsall Road, Stone cross, West Bromwich, B71 3HS
substantial Mixed Use Investment / Development Opportunity
Features
- Substantial property on prominent corner in Stone Cross
- Large ground floor retail unit let until 2030
- Rear self contained office with own entrance
- Two, first floor 2-bedroom self contained apartments
- Parking for several cars to front / side
- Fully Let producing £38,300 per annum
- Freehold - Offers based on £595,000
Description
This substantial corner property comprises a large ground floor retail unit extending to approximately 2,500 sq. ft. ( 232.5 sq m). The unit has the benefit of two separate accesses and provides excellent scope for subdivision into multiple retail units to maximize potential rental income . The existing shop has gas central heating , double glazed windows and further benefits from a new roof in 2019 ( complete with 10 year guarantee). Formerly trading as a carpet shop, the accommodation is suitable for a variety of uses or splitting to create multiple smaller units. There is kitchenette and toilet facilities at the rear of the shop , whilst a separate side door provides access to the recently refurbished basement cellar , providing excellent storage ( or additional office) facilities.
To the rear of the shop, and accessed at the back of the property, is a separate self contained office ( currently tenanted) with its own basement cellar and WC facilities. The office is located beyond a yard area located at the back of the property.
To the first floor, there are two self-contained recently upgraded two bedroom apartments, both currently tenanted.
The property has car parking available immediately to the side and rear, and affords excellent further rental potential and/or future redevelopment.
Location
The property occupies a most prominent corner position at the junction of the main A431 Walsall Road, and Charlemont Road in the heart of Stone Cross. West Bromwich Town Centre lies approximately 2.5 miles to the south and Stone Cross itself enjoys numerous local amenities as well as excellent local transport links and easy access to both the M5 and M6 motorway networks. Nearby occupiers include Tesco Express and Lloyds Pharmacy.Accommodation
Ground Floor - Currently let at 21,500 per annum.Rear Office - Vacant.
Flat 4 – 2 bedroom first floor flat – currently let at £8,400 per annum.
Flat 6 – Large 2 bedroom first floor flat – currently let at £8,400 per annum.
Current total income - £38,300 per annum.
Tenure
Freehold, subject to the existing tenancies.Tenancy
Ground Floor Retail - Let to Forces Support Limited on a new 6-year 11 month lease from 05/06/2023 at a passing rent of £21,500 per annum.There is a mutual break clause at the 5th anniversary, subject to 6 months notice.
First Floor Flats - Both let on assured short hold tenancies producing £16,800 per annum.
Total income - £38,300 per annum.
