The Co-operative, 35 Liskeard Road, Walsall, West Midlands, WS5 3EY

Description

The property comprises a triple ground floor corner property with two self-contained 2 bedroom flats above. The shop extends to 4,227 sq. ft. (392.70 sq m) and is fitted out to the tenant’s usual corporate design. Above the convenience store there are 2 x 2 bedroom self-contained flats.

Location

The property is situated in Gillity Shopping Village, a community shopping centre 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, benefits from customer car parking, 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.

Accommodation

Ground floor shop - 4,227 sq. ft. (392.70 sq m)
First and second floors – Two self-contained flats each comprising 2 bedrooms, lounge, kitchen bathroom.

Tenure

The property will be sold virtual Freehold with the benefit of a new 999 year lease from completion, at a peppercorn ground rent.

Tenancy

The entire property is let to Co-operative Society Ltd or a term of 10 years 15/08/2021, expiring 14/08/2031. The passing rent is £37,500 per annum. There is a break clause and rent review at 15/8/2026.

Price

Offers in excess of £500,000 are sought for the long leasehold interest. A purchase at this level, represents a net initial yield of 7.16%, allowing for usual purchasers’ costs.

Business Rates

The current Rateable value is £29,000. This is not what is payable.

Service Charge

There is a variable service charge payable by the occupational tenant towards the up-keep of the communal areas. Further details are available upon.

VAT

We are advised that VAT is not applicable.

EPC

Available upon request.

Legal Costs

Each party are to be responsible for their own legal costs that may be incurred in this transaction.

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.