57- 63 Bridge Street, Walsall, WS1 1JQ
A prominent freehold town centre office/retail investment opportunity in Walsall
Guide price*
£300,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Thursday 24th October 2024 @ 08:30AM
A prominent freehold town centre office/retail investment opportunity with a large parcel of land to the rear considered suitable for future development subject to the necessary planning permission Current rental income £29,100 PA Estimated full rental value £45,000 PA
Property Description
An imposing three storey mid terrace (plus a large basement), Office/Retail building, believed to date from the mid 1920's, having had a third floor added during the 1950's.The main building comprises two ground floor retail units fronting Bridge Street, and rear office. On the first and second floors are a range of offices with WC's and ancillary stores. To the rear is a level approximately rectangular plot and a two storey rear building, which is considered to have development potential subject to any necessary planning permission.Location
The property occupies a prominent position fronting the northern side of Bridge Street between its junction with Lichfield Street and Lower Rushall Street with vehicular access from Intown at the rear.The property is located within the heart of Walsall town centre close to the main retail core and within an area of professional, administrative, leisure and retail users.
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the tenancies below, the void areas will be available with vacant possession upon completion.Value Added Tax
We understand VAT is not applicable on this transaction.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
Strictly by appointment with the Auctioneers.Tenancy Details
| Blank | Blank | Blank | Blank | Blank | Blank |
|---|---|---|---|---|---|
| Property | Description | Area Sq. ft | Tenant | Term | Rent PA |
| 57/59 Bridge Street | Ground Floor (and basement) | 1,284 | Connells Residential | Holding over | £15,000 PA |
| 63 Bridge Street | Ground Floor- Shop/Office | 630 | Vacant | ||
| 61 Bridge Street | Offices- Part first floor (and basement) | 1,115 | Llewellen Estate Management | 3 years with effect from 01/01/2024 | £4,750 PA |
| 61 Bridge Street | Offices- Part first floor | 570 | Vacant | ||
| 61 Bridge Street | Offices- Second Floor | 2,015 | Individuals T/A trading as Owen Nash & Company (solicitors) | Lease expiry 31/10/2025 | £8,000 PA |
| 61 Bridge Street | Offices- Rear Block- Ground Floor, First Floor & Second Floor | 1,110 | Vacant | ||
| Large Yard | Development Potential subject to planning permission | ||||
| InTown | Car Park Spaces 2 & 6 | Llewellen Estate Management Ltd | Included in the lease above | ||
| InTown | Car Park Spaces 3,4 & 5 | PTB Training Limited | Annual | £1,350PA | |
| Total Rent | £29,100 |
DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,160 inc VAT (£1,800.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
