Unit 12, 5 Liskeard Road, Walsall, West Midlands, WS5 3EY
Mixed use Investment Opportunity
Features
- Fully let retail and residential investment opportunity.
- Ground floor let for a term of 5 years from 6/5/2022, expiring 5/5/2027.
- 825 sq. ft. retail shop with 2 bedroom duplex flat above.
- Combined passing rent of £16,000 per annum.
- Guide price: £199,000, equating to a net initial yield of 7.86%
Description
The property comprises a ground floor mid parade retail property with a selfcontained 2 bedroom duplex flat to the first and second floors. The shop extends to 825 sq. ft. ( 76.70 sq m) and currently trades as a grocery store and off licence. Accessed from the rear there is a 2 bedroom self-contained duplex flat situated over the first and second floors.
Location
The property is situated in Gillity Shopping Village, a community shopping centre approximately 3 miles to the southeast of Walsall town centre. The property is strategically located to serve the surrounding densely populated residential area and sits adjacent to the King Arthur public house. The shopping centre comprises a wide variety of retail user types and is accessed from both Liskeard Road and Treyamon Road.Accommodation
Ground floor shop - 825 sq. ft. ( 76.70 sq m).First and second floors – 2 bedrooms, lounge, kitchen, bathroom. The duplex
extends to 785 sq. ft. ( 73.00 sq m).
Tenure
The property will be sold with the benefit of a new 999 year lease from completion, at a peppercorn ground rent.Tenancy
The ground floor is let to Jako Pop Ltd for a term of 5 years from 6/5/2022, expiring 5/5/2027 at a passing rent of £10,600 per annum. There is a 6 month rental deposit is held by the vendor.The duplex is let on an AST at a passing rent of £5,400 per annum.
The total passing rent is £16,000 per annum.
