9-17 Station Road, Codsall, Wolverhampton, WV8 1BX

Freehold mixed use investment in Wolverhampton

Guide price*

£800,000+

Plus fees

Sold prior to auction, for an undisclosed amount

Lot 114 Commercial Investment Residential Investment
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Auction details:

Thursday 14th September 2023 @ 09:00AM

A Freehold Mixed Use Investment comprising a Parade of Retail Units with Self Contained Flats above part, a Block of Garages and Large Yard/Parking Area, set within the centre of a popular commuter village Current Rental Income: £90,400 pa.

Property Description

The property comprises a two storey parade, providing a mixed use investment of five retail units with self contained flats above units 11-17. Unit 9 comprises first floor storage/office space connected to the ground floor accommodation. There is a shared surfaced yard and a block of lock-up garages at the rear, accessed from Wilkes Road. The property stands behind a service road with parking bays.

Location

The property is situated within a busy village centre and forms one of two retail parades either side of Station Road and a Co-op food store within the centre of Codsall.
Station Road is the main village thoroughfare and is predominately bordered by linear retail development and other commercial uses, residential properties predominately occupy the surrounding area.
Codsall is a popular commuter village in South Staffordshire, approximately 5 miles north west of Wolverhampton City Centre. Codsall Railway Station is a short walk south of the property.

Energy Performance Rating

No. 9 - D, No. 11 - D, No. 13 - C, No. 15 - C. No. 17 - E.

Council Tax Band

A.

Tenure

Freehold – Subject to the existing tenancies.

Value Added Tax

We understand VAT is not applicable on this transaction.

Auctioneer's Note

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.

Accommodation

Sq.m. Sq.Ft.
No. 9
Ground Floor Retail Area: 64.40 693.00
Store: 1.90 20.00
Kitchen: 24.45 263.00
First Floor Office/Store: 21.28 221.28
Kitchenette: 10.15 109.00
Male & Female WCs: - -
No. 11/11A
Ground Floor Retail Area: 50.99 548.00
Stores: 23.74 255.00
First Floor: Two Bedrooms, Bathroom, Kitchen & Living Room.
No. 13/13A
Ground Floor: 53.50 578.00
Store: 7.98 86.00
Kitchenette: 12.53 135.00
WC. - -
First Floor: Two Bedrooms, Bathroom, Kitchen, Living Room.
No.15/15A
Ground Floor Retail Area: 29.82 321.00
Retail/Preparation Area: 35.76 385.00
Kitchenette: 5.93 64.00
Cold Store: 22.37 241.00
WC. - -
First Floor: Two Bedrooms, Bathroom, Kitchen & Living Room.
No. 17/17A
Ground Floor Reception: 12.24 132.00
Treatment Rooms: 42.57 458.00
WC. - -
First Floor: Two Bedrooms, Bathroom, Kitchen, Living Room.
Outside Five Lock-Up Garages, Yard/Car Parking.

Tenancy Details

Unit Term Rent Tenant Comments
UNIT[/B] [B]TENANT[/B] [B]LEASE[/B] [B]CURRENT RENT[/B]
9 Siculi Lab Ltd Let by way of a 10 year Lease with effect from 14th November 2022. There is provision for a rent review on 14th November 2027. £18,500 pa.
11/11a The Ace Of Vapez Retail Ltd Let by way of a Lease for 9 years with effect from 17th February 2012. The Tenant is currently holding over. £18,000 pa.
13/13a Individual Let by way of an Lease for a term of 10 years with effect from 28th January 2016 to 27th January 2026, with provisions for a rent review on 28th January 2025. £18,000 pa.
15/15a Allan Bennett Limited Let by way of a 10 year Lease, with effect from 29th October 2013. £18,900 pa.
17 Individual Let by way of a 10 year Lease, with effect from 25th November 2022. There is a provision for a rent review on 25th November 2027. £17,000 pa.
17a Vacant
Total Rental Income: £90,400 pa.

Accommodation & Tenancy

Unit Accommodation Area Lease Details Rent
UNIT TENANT LEASE CURRENT RENT
9 Siculi Lab Ltd Let by way of a 10 year Lease with effect from 14th November 2022. There is provision for a rent review on 14th November 2027. £18,500 pa.
11/11a Sole Factory Ltd Let by way of a Lease for 7 years and 10 months commencing 17th February 2012 until 24th December 2020. The Tenant is currently holding over. £18,000 pa.
13/13a Individual Let by way of an Lease for a term of 10 years with effect from 28th January 2016 to 27th January 2026, with provisions for a rent review on 28th January 2025. £18,000 pa.
15/15a Individual Let by way of a 10 year Lease, with effect from 29th October 2013. £18,900 pa.
17 Individual Let by way of a 10 year Lease, with effect from 25th November 2022. There is a provision for a rent review on 25th November 2027. £17,000 pa.
17a Vacant
Total Rental Income: £90,400 pa.
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 include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. 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 £1,920 inc VAT (£1,600.00 + 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 has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. 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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