82-83 Bradford Street, Walsall, West Midlands, WS1 1NU

Description

The property comprises a substantial double fronted end parade two story property extending to 4,016 sq. ft. ( 373.23 sq m).

Location

The Property occupies a prominent location in Walsall Town Centre on Bradford Street. The subject property is situated on the pedestrianised Bradford Street, close to the Saddlers Shopping Centre and the Crown Wharf Retail Park. The principle Town Centre car parks serving Walsall are located within the Saddler’s Shopping Centre (480 spaces) and Crown Wharf (650 spaces). Walsall is located approximately 10 miles north of Birmingham city centre and 8 miles east of Wolverhampton. The town benefits from excellent road communications located within 4 miles of the intersection of the M5/M6 motorways. Junction 9 and 10 of the M6 motorway lies within 2 miles of the western periphery of the town, thereby providing easy access to the remainder of the national motorway network.

Tenancy

The property is let in its entirety to Shoe Zone Retail Ltd for a term expiring on 5/12/2027, by way of a 5 year lease. The passing rent is £20,000 per annum.

TENANT PROFILE
Shoe Zone Retail Ltd is a direct subsidiary of Shoe Zone plc. A leading specialist value footwear retailer selling over 20 million pairs of shoes a year the company has been established for 100 years and operates a portfolio of over 500 stores and employing nearly 4,000 staff across the United Kingdom and Republic of Ireland. For more information visit www.shoezone.com.

Price

Offers based on £220,000 plus VAT are sought for the Freehold interest. A purchase at this level reflects a net initial yield of 8.87%, allowing for the usual purchaser’s costs of 2.44%.

Business Rates

Rateable Value - £33,250

Service Charge

There is a variable service charge recharged to the occupational tenant, to cover the provision of communal services and maintenance. A copy of the latest service charge budget is available upon request.

VAT

We are advised that VAT is payable, although it is anticipated 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.

Disclaimer

A member of Bond Wolfe has a vested interest in this property.