11 Waterloo Road, & 2 Clarence Road, Wolverhampton, West Midlands, WV1 4JH
Freehold Mixed Use Investment
- Freehold mixed use city centre investment opportunity
- Combined income of £69,000 per annum
- Ground floor let to TS Healthcare – 4 years unexpired
- 8 upper flats fully let.
- Planning consent for conversion of basement to 12 HMO units.
- Further development potential (STP) to the rear
- Freehold – offers based on £745,000
Location11 Waterloo Road is located in a prominent position within one of the most established professional office areas of the City of Wolverhampton. The City is well served by public transport links and there is a variety of public multi storey and on street car parking facilities within the vicinity. The surrounding road network provides access to Junction 2 of the M54 motorway approximately 4 miles to the north and Junction 10 of the M6 motorway approximately 7 miles to the east, serving the wider West Midlands motorway system. motorway system.
Dating back to the mid 19th century, the property comprises a substantial detached freehold property incorporating ground floor offices with residential accommodation above. The property retains many character features and provides further development to the rear as well as benefitting from planning consent to convert the basement to a 12 bedroom House of Multiple Occupation.
Reception Office – 150 sq. ft.
Main Office – 353 sq. ft.
Rear Office – 245 sq. ft.
Kitchen & WC’s
8 self contained 1 bedroom flats all let on AST’s . There is also a part converted 9th flat.
Open plan basement accommodation with planning permission for conversion to a 12 bedroom HMO.
PriceOffers based on £745,000 are invited for the Freehold interest.
PlanningUnder application number 15/00144/FUL, planning permission was granted for the change of use of the lower ground floor to ‘ small apartments with communal living/dining areas’. Full details of the plans are available from Bond Wolfe upon request.
TenancyThe ground floor is currently let to TS Healthcare for a term expiring in 2027 at a passing rent of £17,400 per annum.
The apartments are all let producing an annual income of £51,600 pa.
The total income is £69,000 per annum.