Tudor House, Bridge Street, Walsall, WS1 1EW

Town centre investment opportunity in Walsall

Guide price*

£730,000+

Plus fees

Unsold

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Lot 89 Commercial Investment
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Auction details:

Wednesday 9th February 2022 @ 09:00AM

Live-streamed Auction

A Prime Town Centre Fully Let Retail Investment Opportunity, anchored by Ladbroke Betting & Gaming Ltd Current Rental Income: £80,000 pa.

Property Description

Tudor House comprises a 4 storey, mock Tudor building with a terrace of four ground floor retail units and 3 floors of residential accommodation above. (The residential parts have been sold off on a long lease). The retail units comprise a total of 5,556 sq. ft. ( 516.37 sq. m) across four self-contained shops and are all tenanted. Tenants include Ladbroke Betting & Gaming Ltd, who have recently extended their lease.

Location

The property is situated in a prominent town centre location on the southern side of Bridge Street, between The Bridge and within 80 metres of Park Street, the prime retail pitch in Walsall. Adjacent is the major town centre redevelopment site at the Old Square Shopping Centre, which is planned to incorporate a Co-Op Supermarket and Primark. Walsall is one of the largest Centres within the West Midlands conurbation. It is situated approximately 10 miles to the north of Birmingham City Centre, 6 miles east of Wolverhampton, 5 miles north of West Bromwich and 6 miles west of Sutton Coldfield.
The town benefits from excellent communications being some 2 miles from both junctions 9 and 10 of the M6 Motorway. The M6 links to the National Motorway Network with the M54, the M42 and the M6 Toll Road, all within a few junctions.
Birmingham International Airport and the National Exhibition Centre are both approximately 16 miles to the south east, accessed via the M6. Intercity Rail Services are available from both Wolverhampton and Birmingham with regular services to London Euston and the North.
Walsall has a resident population of 170,994 (2001 Census) and a catchment population of 812,889 within a 6-mile radius of the town centre.
Walsall has a strong retail offer which is centred upon the pedestrianised Park Street which links the Crown Wharf Shopping Park to the north, the Saddlers Shopping Centre in the centre of Park Street and Old Square Shopping Centre to the south The Saddlers Centre is anchored by Marks & Spencer who also have a frontage to Park Street.
Crown Wharf is a large unit retail scheme anchored by Asda Living, with retailers including Next, TK Maxx, Top Shop/Top Man and J D Sports.

Energy Performance Rating

See legal pack.

Tenure

Long Leasehold. Held for a term commencing on the 7th April 2003 until 26th July 2137 at a rental of a peppercorn if demanded, subject to the existing tenancies.

Auctioneer's Note

1. Members of Bond Wolfe have a vested interest in the property.
2. Please note offers may be considered prior to the Auction Sale.

Remote Bidding Auction

This 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.

Viewings

External viewings only.

Tenancy Details

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7
Demise Area Occupier Term Lease Rent PA Break Clause
6 Bridge Street
Basement (Ancillary)

Ground (Retail)
726sqft (67.45sqm)

753sqft (69.9sqm)
Total Area- 1479sft (137.4sqm)
Pot Luck Gaming Centre Limited 3 Years 16/09/2020-15/09/2023 £15,000 None
8b Bridge Street
Basement (Ancillary)

Ground (Retail)
750sqft (69.7sqm)

873sqft (81.1sqm)
Total Area 1623sqft (150.8sqm)
Mohammed Ajaib t/a Beauty Queen Cosmetics 5 Years 30/06/2017-29/06/2022 £25,500 None
10/12 Bridge Street
Basement (Ancillary)

Ground (Retail)
859sqft (79.8sqm)

839sqft (77.9sqm)
Total Area 1698sqft (157.7sqm)
Ladbrokes Betting & Gaming Ltd 1(1) 15 Years 30/08/2013-29/08/2028 £20,500 30/08/2026
14/16 Bridge Street
Ground (Retail)
756sqft (70.2sqm)
Total Area- 756sqft (70.2sqm)
Bad Apple Hair Salons UK Limited 10 Years 14/12/2018-13/12/2028 £19,000 23/05/2024
RESIDENTIAL
8 Bridge Street (1st & 2nd Floors)
Tudor house (Walsall) Ltd 212 Years (Less 10 Days) 31/07/2005-21/07/2217 None
Totals 5,556sqft (516.16sqm) £80,000
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

LIVE-STREAMED AUCTION

Please note that the Auction will be livestreamed via our website.  You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’.  Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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