Gillity Village Shopping Centre, Liskeard Road, Walsall, West Midlands, WS5 3EY
Freehold Shopping Centre & Residential Investment
- To be sold individually, in parts, or as a whole
- Comprises shopping centre of two principal retail parades at ground floor and 15 self-contained dwellings at first/second floors
- Total annual income - £256,260 per annum
- Further development potential of garages and adjacent car park
- Located in predominantly residential area within 10 min drive to Walsall Town Centre and Walsall Train Station
- Total Retail Area - 1,519 sq m (16,347 sq. ft.)
- Total Residential NIA: 1,095 sq m (11,775 sq. ft.)
The property is a community shopping centre that was constructed in the 1960s and comprises two principal retail parades with 15 duplex residential units, 15 garages and extensive customer surface parking. The 2 bed duplex flats at first and second floor levels are accessed from external staircases.
The scheme comprises a total of 16 retail units although three have been combined and are occupied by the Co-op, and a further two are occupied by an Indian restaurant. Accordingly, there are effectively 13 separately let retail properties, all with residential accommodation above. The garages and car park will be offered for sale separately should the shopping centre be sold piecemeal.
Individual brochures for each of the units are available upon request.
LocationGillity Shopping Centre is a community shopping village approximately 3 miles to the southeast of Walsall town centre. The property is strategically located to serve the surrounding densely populated residential area and sits adjacent to the King Arthur public house. The shopping centre, which comprises a wide variety of retail user types is accessed from both Liskeard Road and Treyamon Road. 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.
AccommodationTotal Retail Area: 1,519 sq m (16,347 sq ft.).
Total Residential NIA: 1,095 sq m (11,775 sq ft.) Reach flat comprises 2 bedrooms and are all held on assured short hold tenancies.
External – 15 garages & an adjacent tarmac surfaced car park with further parking to the rear of the development.
TenureThe shopping centre is held Freehold. If sold individually or in part, each property will be sold with the benefit of a new 999 year lease from completion, at a peppercorn ground rent.
TenancySee main brochure.
PricePrice on application.
ProposalOffers are invited for the Shopping centre as a whole, in part, or on an individual basis.
PlanningProperty provides development potential to extend existing building above and utilize the large main car park and 15 garages for erection of additional residential block, subject to obtaining the necessary consents.
Planning History: 10/0402/FL: Planning approved in May 2010 (now lapsed) for Alteration of existing flat roof to mono-pitched roof to upper storeys of development.
10/1584/FL: Planning approved in January 2011 (now lapsed) for Redevelopment of public realm area to provide a new commercial unit, Restaurant / Café A3 use classification and improved external works and access ways.
16/0865 Withdrawn application for 12 apartments in the main car park.
For more information, please refer to Walsall Planning Portal: https://go.walsall.gov.uk/planning_and_building_control.
Service ChargeThere is a service charge payable by the occupational tenant towards the upkeep of the communal areas. Further details are available upon request.
VATWe are advised that VAT is not applicable.
EPCAvailable upon request.
Legal CostsEach party are to be responsible for their own legal costs that may be 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.
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