85 Bradford Street, Walsall, WS1 1NU
Freehold town centre retail investment let to Paddy Power.
- High Street retail investment opportunity
- Prominent location in thriving shopping suburb
- Let to Paddy Power bookmakers on a 15 year lease, expiring 9/8/2024
- Passing Rent - £40,000 per annum
- Offers based on £525,000 (NIY of 7%) after purchasers costs of 4.80%
LocationThe property is situated in the prime retail centre of Walsall town centre. Bradford Street sits directly adjacent to the Saddlers Shopping Centre and footfall along Bradford Street is further increased by the bus station, taxi rank and car park. The property is located close to numerous national operators, including Lloyds Bank, Primark and Sports Direct Further, the newly developed St Matthews Quarter is situated opposite Primark, and has created increased footfall at the southern end of the town centre.
The property comprises a purpose built ground floor retail shop, currently utilized as a bookmakers, with ancillary accommodation beyond the ground floor retail area.
AccommodationThe property extends to 1,986 sq ft in total.
PriceOffers in the region of £525,000 are sought for the freehold interest. A purchase at this level would equate to a net initial yield of 7% (after purchasers costs of 4.80%), based on a passing rent of £40,000 pa.
TenancyThe property is let to Paddy Power on a 15-year lease from 10/8/2009 to 9/8/2024 at a passing rent of £40,000 per annum.
VATThe property is elected for VAT , although it is anticipated that the sale will be dealt with by way of a TOGC.
EPCAvailable upon request.
Legal CostsEach party are to be responsible for their own legal costs incurred in this transaction.
Anti Money LaunderingIn 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 director of Bond Wolfe has a vested interest in this property.
2 & 4 Parade, Leamington Spa, Warwickshire, CV32 4DW
Investment, Retail For Sale
Offers in the region of £625,000