Detailed Information
Location
The property is located in a prominent position at the junction of High Bullen
and Walsall Street, Wednesbury. Union Street is the main pedestrianised
shopping area within Wednesbury and is a short distance away and nearby
traders include Betfred, Wetherspoons, Greggs and Poundland along with a
diverse mix of local retailers.
Birmingham is located approximately 10 miles to the south east, Walsall 2
miles north east and J9 of the M6 is 1. 5 miles away offering excellent access
to the wider midlands motorway network.
Description
The property comprises a 3 storey premises which, for many years has been
occupied by Lloyds Bank Plc. The ground floor has recently undergone
refurbishment and consists of a large banking hall, vault and partitioned
offices and meeting rooms. The first and second floors can be accessed from
within the bank although there is a door fronting Walsall Street that could,
if required, offer self contained access. The first floor comprises male and
female W. C. Facilities along with a store and office and on the second floor
is further storage, kitchen and staff room. We understand that the second
floor has historically been residential accommodation and we believe, subject
to the necessary planning permissions there is potential to convert the upper
floors back to residential.
Accommodation
All areas are measured on a net internal basis
Ground floor 155. 6sq. m / 1, 675sq. ft
First Floor 41. 71sq, m / 449sq. ft
Second Floor 60. 57sq. m / 652sq. ft
Tenure
The property is let to Lloyds Bank Plc for a term of 5 years from 22nd
September 2023 on a full repairing and insuring basis at £13, 500 per annum,
exclusive paid quarterly in advance. The tenant benefits from a break option
at the 3rd anniversary giving not less than 6 months written Notice.
Price
£165, 000 which represents a yield of 8. 18% before purchasers costs
**EPC**
_EPC_ \ - C (60)
Valid until July 2033
**VAT**
The premises have not been elected for VAT.
Viewing
Strictly by appointment with the agents Michael Tromans & Co llp
Tel Subject to Contract
js/sc Oct23

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