Under Offer - Office

Freehold Investment Property with Development Potential.

LOCATION:  The property occupies a prominent corner position on the southern side of Leicester Street at its junction with Bridge Street in Walsall town centre.  Nearby occupiers include a number of national concerns including Nationwide Building Society and J D

Wetherspoons. 

DESCRIPTION:   The property comprises a five storey building occupied by William Hill Bookmakers on the ground floor with four floors of offices over, currently arranged as

self-contained suites, each having separate toilet facilities on half landings, approached via a lift.

ACCOMMODATION:

GROUND FLOOR AND BASEMENT:

Occupied by William Hill Bookmakers approximately 969 sq.ft. (90.02 sq.m.) (not measured).

FIRST-FOURTH FLOORS:

Presently arranged as four self-contained office suites, with fitted suspended acoustic tile ceilings with Cat II light boxes, dado perimeter trunking and electric heaters, having a Net Internal Floor Area of approximately 671 sq.ft. (62.33 sq.m.) each. 

SERVICES: Mains electricity, water and drainage are connected to the property.  The upper floors have wall mounted electric heaters.  No tests have been applied to any of the services or appliances. 

RATING DATA: (information obtained from the Valuation Office Agency Web Site): 

Rateable Value Description

First Floor Offices:       £4,400 Offices and premises

Second Floor Offices:                      £4,400 Offices and premises

Third Floor Offices:       £4,400 Offices and premises

Fourth Floor Offices:       £4,400 Offices and premises

NB:  Small Business Rate Relief may be available for the office suites.  Interested parties are advised to make their own enquiries of the Local Authority in this regard. 

TENANCIES:   The ground floor and basement are let to William Hill Organisation Limited (002073) by way of a twenty year lease from 17th June 2010, with five year rent reviews, at a current passing rent of £20,000 per annum exclusive. 

The four floors of offices are offered with vacant possession and could either be occupied as offices or converted to residential use.  Permission has been granted to convert the offices into four self-contained, two bedroom flats by way of Prior Approval, Application Number 23/0838, dated 4th September 2023.

TENURE:   Believed Freehold. 

ENERGY PERFORMANCE CERTIFICATES:  The property has a rating of 

First Floor - D(77)

Second Floor - D(77)

Third Floor - D(77)

Fourth Floor - D(82)

A copy of the EPCs will be available for inspection at the agent’s offices or on their web site. 

VIEWINGS:    Contact Fraser Wood Commercial on 01922 629000.

Please note that all parties viewing the property do so at their own risk and neither the vendor nor the agent accept any responsibility or liability as a result of any such viewings. 

VAT: We understand that VAT will be payable upon the purchase price.