81-83 Darlington Street, Wolverhampton, WV1 4JD

Description

The property comprises a large three storey corner property incorporating two ground floor retail/office units , and self-contained offices to the first and second floors, accessed via an independent door between the two ground floor units.

Location

The property occupies a prominent central corner 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.

Accommodation

FLOOR - SQ.FT - SQ.M.
Ground Floor (Connells) 3,235 - 300.7
First Floor (Pertemps) 2,042 - 189.8
First Floor 1,445 - 134.3
Second Floor 1,580 - 146.93
TOTAL 8,302 771.73

Tenure

Freehold, subject to the existing tenancies.

Tenancy

FLOOR TENANT - PASSING RENT (PA)
Ground Floor (Connells) Connell’s Residential £34,700
First Floor (Pertemps) Pertemps Ltd £24,000
First Floor Interaction Recruitment PLC £10,000
Second Floor Midas Care Solutions Ltd £10,200
TOTAL £78,900

Price

Offers in the region of £645,000 are sought. A purchase at this level would equate to a net initial yield of 11.63%, 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.