Under Offer - Mixed Use

A mixed use Investment property consisting of a Bar Restaurant on the ground floor with two self-contained flats over.

LOCATION: The property is situated on the south eastern side of Lichfield Street, close to  the car park of Morrisons Superstore, Walsall, approximately 400 metres from the

pedestrianised retailing centre of the town.

DESCRIPTION:   The property comprises a mixed use investment property consisting of a Bar Restaurant on the ground floor with two self-contained flats over.

ACCOMMODATION:

Ground Floor

L-shaped front bar restaurant/retail area including bar servery

APPROXIMATELY 2,081 SQ.FT. (193.3 SQ.M.).  Rear lobby leading to male and female/disabled toilets and staff room/kitchen.

APPROXIMATELY 276 SQ.FT. (25.6 SQ.M.).  Inner lobby with corridor off leading to former kitchen with adjoining store room having delivery doors off side driveway.  Further store room.       

APPROXIMATELY 472 SQ.FT. (43.8 SQ.M.).

First Floor

Flat 127a - Living room, kitchen, two bedrooms and shower room/w.c.

Flat 128a - Living room, L-shaped dining kitchen, two bedrooms and shower room/w.c.

SERVICES: Usual mains services are understood to be connected or available to the property.  The ground floor accommodation and two flats have gas fired central heating with hot water radiators.  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: £15,500

Description: Shop and premises

ENERGY PERFORMANCE CERTIFICATE: 127 - 128 Lichfield Street - 60 Band C.  127a Lichfield Street - 53 Band E.  128a Lichfield Street - 53 Band E.  A copy of the EPCs will be available for inspection at the agent’s offices or on their web site.

TENANCIES: 

The ground floor Bar Restaurant is let by way of a five year lease from 1st October 2024 at a rental of £21,600 per annum exclusive for the first year increasing to £24,000 per annum for the remaining four years.  The two first floor flats are presently let at £600 per calendar month, equating to £7,200 per annum, exclusive each.

Total rental income - £36,000 per annum increasing to £38,400 per annum from 1st October 2025.

TENURE:     Believed Freehold.

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.