63 Park Street, Walsall, WS1 1NW
Retail investment in Walsall
Guide price*
£430,000+
Plus fees
Sold prior to auction, for an undisclosed amount
Lot information
Commercial Investment
Auction details:
Thursday 15th May 2025 @ 08:30AM
A freehold town centre retail investment opportunity
Property Description
This substantial two storey property forms part of a parade of retail properties and extends to 5,290 sq. ft. (491.63 sq m) over ground and first floor levels. Internally, the retail floor area has been fitted out by the tenant to their usual corporate style and is predominantly open plan with ancillary areas to the rear and first floor. The property benefits from a right of way to the rear via the service yard.Location
Walsall is a suburb of Birmingham located approximately 14.5 km (9 miles) north of Birmingham City Centre, 9.5 km (6 miles) east of Wolverhampton, 40 km (25 miles) and 193 km (120 miles) north-west of London. The town benefits from good road communications being situated approximately 2.1 km (1.3 miles) east of Junction 10 of the M6 Motorway, 4 km (2.5 miles) north of the M5/M6 Motorway interchange, 9 km (5.6 miles) south-east of the M54 and 13 km (8 miles) south of the M6 Toll Motorway, providing direct access into Birmingham City Centre and connections to the wider UK Motorway network. The subject property occupies a 100% prime retailing pitch on the fully pedestrianized street. Nearby occupiers include Superdrug, Boots and New Look. The property benefits from being situated in nearby proximity to the Saddlers Shopping Centre which comprises approximately 18,580 sq m (200,000 sq. ft.) plus around 450 car parking spaces. The centre provides over 50 stores with retailers including TJ Hughes, Carphone Warehouse, Claire’s, Clarks, Vodafone, Costa, Subway, Ryman and Warren James.Accommodation
Ground Floor: 2,680 sq.ft. (249.07 sq.m)First Floor: 2,610 sq.ft. (242.56 sq.m)
Total: 5,290 sq.ft. (491.63 sq.m)
Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancy.Tenancy Details
The entire property is let to Waterstone Booksellers Ltd on a renewed 5 year Lease from 24th December 2024, expiring 23rd December 2029, with no break clause. The passing rent is £36,000 per annum exclusive.Waterstone Booksellers Ltd is a renowned seller of books and gifts, trading from over 290 stores.
For the year ended 29th April 2023 Waterstones Booksellers Limited reported a turnover of £452,475,000, pre-tax profit of £26,600,000, shareholders funds of £110,430,000 and a net worth of £107,868,000 (Source: Experian 16.02.2024).
Value Added Tax
We are advised that VAT is payable, although it is anticipated that the transaction will be dealt with by way of a TOGC.Auctioneer's Note
A director of Bond Wolfe has a vested interest in this property.Pre-auction Offers
Please note that offers in excess of the guide price may be considered prior to the Auction Sale.Service Charge
There is a variable service charge payable as a proportionate contribution to the wider estate (payable by the occupational tenant).Viewings
Strictly by appointment with the Auctioneers.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.
VIEWINGS
Buyers are deemed to have viewed the property (if access is available), viewed the virtual tours where applicable and undertaken all their due diligence checks prior to bidding.
All viewings are undertaken at your own risk. It is recommended that you take a torch, as not all properties have electricity, and that appropriate clothing is worn. Bond Wolfe under no circumstances shall be liable and will not accept any responsibility for any indirect incidental, consequential, special, or exemplary damages, injury and/or death arising in connection with your access to any property, caused as a result of the property’s state of repair or your use/decision to use your own equipment or any furniture, equipment or appliances in the property.
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 £2,340 inc VAT (£1,950.00 + 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.
