79 Darlington Street & 2 Waterloo Road, Wolverhampton, WV1 4JD

Description

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.

Location

The property occupies a prominent corner position at the junction of Waterloo Road and 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, and 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. 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 reduce the journey time to London to just 49 minutes. Birmingham International Airport is located approximately 44 km (27.5 miles) southeast of Wolverhampton and provides both domestic and international flights.

Accommodation

FLOOR - SQ.FT - SQ.M.
Ground Floor - 1,040 - 96.7
First Floor - 542 - 50.4
Second Floor -1,103 - 102.6
Third Floor - 605 - 56.3
TOTAL - 3,290 - 306

Tenure

Freehold, subject to the existing tenancies.

Tenancy

The ground and part first floorsare let to Countrywide Estate Agents (trading as Dixons) for a term of 10 years from 29/3/2015 at a passing rent of £20,000 per annum.
The remainder of the first floor is let to an individual from 01/5/2025 at £6,000 per annum.
The second and third floors are let to GNR Executive for a term of 3 years from 1/8/2024, expiring 31/7/2027, at a passing rent of £10,000.
The total rent is £36,000 per annum.

The Countrywide estate agency network consists of over 60 well-known high street brands, many of which have been established for decades. Brands include Dixons, Bridgfords, and Sutton Kersh.
The Countrywide estate agency network consists of over 60 well-known high street brands, many of which have been established for decades. Brands include Dixons, Bridgfords, and Sutton Kersh. GNR Executive are a specialist recruitment firm, who specialise in Environmental Services, Transportation Financial, Water, Legal, Oil & Gas, Mining and Renewables.

Price

Offers in the region of £345,000 are sought. A purchase at this level would equate to a net initial yield of 10.06%, after usual purchaser’s costs.

VAT

We are advised that VAT is not applicable

EPC

Available upon request.

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.