1-27 Bridge Street, Walsall, WS1 1DP

Town Centre Retail Investment Opportunity

Property details

Type Investment
Tenure Freehold. Subject to existing tenancies.
Price Offers over £1,500,000
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Features
  • Prominent, unbroken retail parade on a prime pedestrianised retail pitch in Walsall town centre.
  • 11 retail shops with upper floor ground rents.
  • Over 22,000 sq. ft. of retail space.
  • Producing £124,900 per annum.
  • Offers over on £1,500,000 (representing a NIY of 7.85% after costs).
Location
Walsall is the administrative centre of the Metropolitan Borough of Walsall and is situated in the West Midlands. The town is located 10 miles (16km) north-west of Birmingham, 7 miles (11km) east of Wolverhampton and 37 miles (60 km) north-east of Worcester. The town is very well placed in relation to the motorway network, located at the junction of the M5 & M6 motorway, which connects the M1 motorway towards London and M74 motorway towards Glasgow. Walsall Railway Station is situated on Station Street in the town centre, approximately 0.2 miles from the subject property. The station provides a regular service to Birmingham New Street (4 trains per hour), with an average journey time of 23 minutes, with onward connections to London Euston. Birmingham International Airport is situated at junction 6 of the M42, located within a 30-minute drive.
Description

An unbroken parade of 11 retail units, totalling over 22,000 sq. ft. The parade occupies a prominent position within the popular town centre which is the subject of considerable inward Investment and regeneration and comprises a variety of tenants.

Price
Offers based on £1,500,000 are sought for the freehold interest, subject to existing tenancies. A purchase at this level would represent a Net Initial Yield of 7.85% (after costs).
Tenancy
Please see brochure for the full tenancy schedule.
VAT
The property is elected for VAT, but it is envisaged that the transaction will be dealt with by way of a TOGC.
EPC
Available upon request.
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.