Forster House, Hatherton Road, Walsall, WS1 1XZ
Town Centre Office Investment Property in Walsall
Guide price*
£900,000+
Plus fees
Unsold
Lot information
Commercial Investment
Auction details:
Wednesday 27th March 2024 @ 08:30AM
A Freehold Fully Let Town Centre Office Investment Property Considered To Have Future Residential Development Potential Subject To The Appropriate Planning Permission Current Rental Income £94,437.50 PA Rising to £97,250 PA By September 2024
Property Description
Forster House comprises a prominent four story detached office building with part ground floor utilised as a small retail unit. The property is configured to provide largely open plan office space with some partitioned offices and meeting rooms, with toilet and kitchen facilities on each floor. The accommodation is well presented throughout having carpet covered floors, suspended ceilings with recessed lighting, perimeter trunking, heating and air conditioning. The toilet and the kitchen facilities throughout have recently been refurbished. Access to each floor is via a six person lift and two stair wells. The ground floor provides a small retail unit and office suite with it's own WC and kitchen facilities. The property benefits from a large regular shaped site, with surface car parking to both the front and rear, providing approximately 35 parking spaces.Location
Forster House occupies a prominent position within the professional quarter of Walsall town centre, fronting the north western side of Hatherton Road at it's junction with Forster Street, and just a short walk from Walsall's main retail core.The property benefits from excellent access to the national motorway network via junction 10 of the M6 motorway lying approximately 2.5 miles to the west.
Energy Performance Rating
CTenure
Freehold – Subject to the following tenancies.Tenancy Details
Part Ground Floor - Let by way of a 5 year lease with effect from 06/09/2023 to Tropic Touch Limited at a rent of £5,437.50 per annum, rising to £7,250 per annum from 06/09/2024Ground, First, Second and Third Floors- Let by way of a 5 year lease from 24/06/2020 to Extra Personel Limited at a rent of £89,000 per annum rising to £90,000 per annum from 24/06/2024.
Extra Personel have been in occupation for approximately 20 years.
Founded in 1992 Extra Personel is a leading recruitment company with a nationwide network and the principal activity is temporary and permanent recruitment solutions for blue chip clients.
Value Added Tax
We understand VAT is chargeable on this transaction.For those who are VAT registered it is anticipated that the sale will be treated as a TOGC, full details will be available in the legal pack.
Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
Strictly by appointment with the Auctioneers.Accommodation
| Unit | Sq.m. | Sq.ft. |
|---|---|---|
| Part Ground Floor - Retail Unit | 42.27 sq. m | 455 sq. ft |
| Part Ground Floor - Office | 200 sq. m | 2,153 sq.t |
| First Floor Office | 219.9 sq. m | 2,367 sq. ft |
| Second Floor Office | 219.89 sq. m | 2,367 sq. ft |
| Third Floor Office | 219.89 sq. m | 2,367 sq. ft |
| Total Approximately | 901.94 sq. m | 9,709 sq.ft |
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.
