0 bed (for sale) Bridge Street, Wednesbury WS10

£2,500,000
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The Online Property Agency
Sovereign Court, Graham Street, Birmingham
0121 659 2987
First Published

11th Aug 2022

Last Published

19th Aug 2022

 

Features

  • Type:
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Description


Modern warehouse investment generating a 6% Net Yield, let at £150,000 p.a Exclusive until May 2025.

The property is currently being used as a vehicle dealership facility which provides showroom, parts, workshop and ancillary accommodation. There is also a detached valet bay located to the rear of the site. We understand that the dealership was refurbished in 2015 to the then Vauxhall corporate identity. The property comprises three interconnecting buildings with the showroom fronting Bridge Street, and the workshop and parts buildings located to the rear.

The showroom is of a steel framed construction with a dual pitched steel profile sheet clad roof and almost full height glazed elevations to the front and one side.

Internally, the showroom provides for 12 display vehicles. It has a suspended ceiling with recessed spot lighting, painted plastered elevations and a ceramic tiled floor.

The workshop is of a steel framed construction with a dual pitched profile sheet clad roof. We understand that the workshop roof and side elevations have been replaced in recent years. The workshop has a combination of painted brick and blockwork walls and profile sheet clad elevations. The workshop can be accessed via five electrically operated roller shutter doors. Linked to the workshop via the ancillary accommodation is the parts department which is of ‘north lit’ construction.

Externally, there is display and customer parking for approximately 65 vehicles and a further 35 parking spaces to the rear. The tenant leases, by way of separate agreements, a small area for display parking adjacent to the showroom and a compound to the rear of the property.

Floor use area :sq ft

Ground Showroom 5,584 (Sqft)

Office 794(Sqft)

Workshop 5,270 (Sqft)

Parts 2,097(Sqft)

Ancillary 517 (Sqft)

Valet 721 (Sqft)

Mezz Parts Mezz 416 (Sqft)

total (approximate) 15,400 (Sqft)

tenure:

The property is freehold and sold with tenants in situ, generating £150,000 rental income per annum on an Fri Lease basis.


EPC

EPC - D



Location:

Situated on a busy road and located approximately 11 miles north west of Birmingham, 7 miles south east of Wolverhampton and 4 miles south west of Walsall. The town is located within the Black Country and benefits from a population of approximately 37,817 inhabitants. Within a 25 minute drive time is a population in excess of 1.2 million inhabitants (Census, 2011). The town benefits from strong communication links being located in close proximity to the M6 and M5 motorways. The town is also served by several important local routes including the Black Country New Road (A41). The property fronts Bridge Street (A4196) which provides convenient access to the town centre from the south and connectivity to Black Country New Road (A41).


VAT


We are advised there is no VAT on this transaction.


Viewings


Strictly by appointment through The opa.


Buyers fee


Buyer's Reservation Fee of 2% of The Purchase Price. Minimum Fee £2400. (All fees inclusive of VAT). T&Cs apply.

The opa’s “Secure It Now Exclusivity Package”

This property is being offered under The opa’s “Secure It Now Exclusivity Package”

This is an innovative secure and straightforward way to purchase this property.

Here are the benefits for you:

• Secure your dream property straight away

• Properties are realistically priced

• Similar to a “normal” or “conventional” sale with a few measures to protect the buyer and the seller

• Focuses on speed

• Mortgage buyer friendly

• Suitable for first time buyer

• Mortgage buyers and cash buyers compete on equal terms

• No competitive bidding

• No risk of being gazumped

• Minimises risk of fall throughs

Secure It Now Exclusivity Package - How does it work?

Our sellers are motivated and willing to price their properties competitively in order to ensure a fast and secure sale.

You can now secure the purchase with a buyer’s “Secure It Now Exclusivity fee “ of 2% which includes :

• A legally binding contract granting the buyer exclusive rights to purchase the property within a given timeframe (usually 56 days / 8 weeks )

• Paying the Exclusivity Fee ensures that the seller takes their property off the market as soon as the sale is agreed and reserves it exclusively for you.

• This prevents the risk of gazumping and the

• helps you avoid losing money and wasting time which most buyers like you may face with the traditional estate agent's approach.

• You get a fixed exclusivity period (approximately 8 weeks) to complete, safe in the knowledge that you will not be gazumped or outbid by another buyer.

Step 1 - Register your interest

Step 2 - Sort out your finances

Step 3 - Arrange a viewing / Virtual Tour

Step 4 - Make an offer

Step 5 - Secure your purchase using our buy and Secure It Now Exclusivity package

Step 6 - Exchange and completion

Next Steps – Do Not Miss Out -

Please note this is a realistically priced property and is likely going to create a fair amount of buying interest. If you're interested in buying this property, we'd urge you to contact us immediately to avoid losing out.

Please note this is a non-refundable exclusivity fee in addition to the purchase price.

Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2: These particulars do not constitute part or all of an offer or contract. 3: The measurements indicated are supplied for guidance only and as such must be considered incorrect. 4: Potential buyers are advised to recheck the measurements before committing to any expense. 5: All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; 6: No persons in the employment of The opa has any authority to make or give any representation or warranty whatever in relation to this property. No services, fixtures, fittings or appliances, including central heating, have been tested by the Agent at the time of printing. All references to parts of the fabric, material, decoration, external or internal features or grounds of the property are made without any warranty as to their conditions or effectiveness. Where definite checks have been made, such results will be made clear at the appropriate place in the particulars of sale. Every effort has been made by the Agents to obtain accurate information from the correct sources. However, intending purchasers and other readers are asked to make their own arrangements regarding verification of any statements expressed in these particulars of sale.

“Please be advised that this property may have been owned by the current seller for under six months, or the seller may have the exclusive right to sell the property. If you require any further clarification, please speak to a representative of The opa.”

In accordance with Section 21 of the Estate Agents Act 1979 an interest is declared in that the vendor of the property is a relative of a Partner of The Online Property Agency Ltd

Any reference to, or use of any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

Misrepresentation Act 1967: The opa for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (1) These particulars do not amount to, nor amount to any part of, an offer or contract. (2) None of the statements contained in these particulars should be relied on as statements or representations of fact, therefore all prospective purchasers or tenants must satisfy themselves as to their accuracy.

 

Local info for WS10

 

Property Value Data/Graphs for WS10

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Semi-detached house 38.6% £174,837 2.9 1.1
Detached house 16.3% £263,182 3.7 1.6
Terraced house 13.9% £140,962 2.7 1
End terrace house 10.4% £148,997 2.8 1
Flat 9.9% £91,075 2 1
Town house 5% £205,995 3.3 1.4
Detached bungalow 1.5% £238,333 2.3 1
Land 1.5% £233,333 1.3 1
Semi-detached bungalow 1.5% £176,667 1.7 1
Maisonette 1% £87,500 1.5 1
Bungalow 0.5% £180,000 2 0

Area Information

Average Price Paid

£142,227

Sales

2622

Current Average Value

£176,137

Value Change

£33,910 23.8%

 

Current Asking Prices in WS10 Average: £176,137

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £147,500 (2) £139,432 (37) £176,414 (109) £265,652 (23) £287,500 (4)
Flats £65,374 (4) £90,294 (17) - £200,000 (1) -
All £92,749 (6) £123,963 (54) £176,414 (109) £258,400 (25) £287,500 (4)

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5 bed Detached house () Hillwood Road, Sutton Coldfield B75 £3,250,000
6 bed Detached house () Roman Road, Little Aston, Sutton Coldfield B74 £2,950,000
5 bed Detached house () Hillwood Road, Sutton Coldfield B75 £2,775,000
2 bed Flat () Apartments, Holloway Head, Birmingham B1 £2,772,245
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