Unit 3 Market Plaza, Market Square, Wolverhampton, WV3 0NF
Ground floor commercial unit in Wolverhampton
Sold prior to auction, for an undisclosed amount
A Modern City Centre Investment Opportunity Current Rental Income £19,800 PA
Property DescriptionThe property comprises a centrally located, modern ground floor commercial unit currently occupied by a day nursery. The accommodation briefly comprises a spacious unit of brick and block construction which occupies the ground floor below a substantial modern residential apartment block, fronting Market Square. The property has a net internal area of 252.50sqm (2,718 sft). We have not undertaken a measured survey of the premises and all interested parties must seek their own verification of floor areas and dimensions.
LocationThe property is prominently situated within Market Square within the heart of Wolverhampton City Centre, fronting Salop Street which has direct access on to the A4150 St Mark's Ring Road.
The property is situated within a well established mixed retail and commercial location within Wolverhampton city centre.
The property is considered to occupy a good prominent catchment area for a variety of uses, subject to obtaining any appropriate planning permission.
Energy Performance RatingC
TenureWe understand that the property is long leasehold for a term of 150 years with effect from 2004 having approximately 133 years unexpired.
The property is currently let by way of a licence agreement for 12 months with effect from 1st December 2020 at a licence fee of £1,650pcm (£19,800 per annum).
Copies of the superior lease and occupational licence will be available for inspection within the legal pack.
Value Added TaxWe understand that VAT will not be chargeable on this transaction.
Auctioneers NotePlease note offers may be considered prior to the Auction Sale.
Remote Bidding AuctionThis property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.
ViewingsStrictly by appointment with the Auctioneers.
REMOTE BIDDING AUCTION
*DEFINITION OF GUIDE & RESERVE PRICE
COSTS AT AUCTION
the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.