Kwik Fit 131 Stafford Street Walsall West Midlands WS2 8EA

Kwik Fit
131 Stafford Street
Walsall
West Midlands
WS2 8EA

Freehold Tyre Depot Investment

Entirely let to Kwik-Fit Properties Ltd (guaranteed by Kwik-Fit Holdings Limited) until 2027 (no breaks) (t/a Tyre City)
Potential long term residential redevelopment (subject to consents)
Forecourt with parking for approximately 12 cars
Prominent position fronting Stafford Street (B4210)
Total site area of approximately 0.17 hectares (0.42 acres) with a site coverage of approximately 27%

Lot
31
Auction
11th December 2019
Rent
£44,395 per Annum Exclusive
Status
Sold
Price
£615,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Tyre Depot Investment

Entirely let to Kwik-Fit Properties Ltd (guaranteed by Kwik-Fit Holdings Limited) until 2027 (no breaks) (t/a Tyre City)
Potential long term residential redevelopment (subject to consents)
Forecourt with parking for approximately 12 cars
Prominent position fronting Stafford Street (B4210)
Total site area of approximately 0.17 hectares (0.42 acres) with a site coverage of approximately 27%

Lot 31
Auction 11th December 2019
Rent £44,395 per Annum Exclusive
Status Sold
Price £615,000
Sector
Motor Trade, Petrol Station
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 9 miles north of Birmingham; 41 miles west of Leicester; 48 miles south-west of Nottingham
Roads: A34, A4148, M6 (Junction 10)
Rail: Walsall Rail
Air: Birmingham International Airport

Situation

The property is situated approximately half a mile north of Walsall town centre, occupying a prominent roadside pitch at the junction of Stafford Street (B4210) and Proffitt Street. The M6 Motorway (Junction 10) is approximately 1 mile to the west. Stafford Street comprises a small retail parade, as well as a number of units occupied by a range of local retailers.

Tenure

Freehold.

Location

Miles: 9 miles north of Birmingham; 41 miles west of Leicester; 48 miles south-west of Nottingham
Roads: A34, A4148, M6 (Junction 10)
Rail: Walsall Rail
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises a single storey motorist centre benefitting from vehicle bays with shutter doors and forecourt with parking for approximately 12 cars. The property has a total site area of approximately 0.17 hectares (0.42 acres) with a site coverage of approximately 27%. The property may be suitable for long term residential redevelopment (subject to consents).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D. See legal pack at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Motorist Centre	414.10 sq m	(4,457 sq ft)	KWIK-FIT PROPERTIES LTD guaranteed by Kwik-Fit Holdings Limited t/a Tyre City (1) (2)	30 years from 22/12/1997 until 21/12/2027 on a full repairing and insuring lease	£44,395	22/12/2022
Total		414.10 sq m	(4,457 sq ft)			£44,395

(1) Kwik-Fit are experts in automotive repair including tyres, MOT testing, car servicing, exhausts, brakes and air-con. They are the leading fast-fit suppliers of tyres in the country and carry stocks of over 600,000 products in over 600 centres in the UK
(Source: www.kwik-fit.com 29/10/2019).
(2) Kwik-Fit Holdings Limited was incorporated in July 1940 and is rated by Experian as 'Very Low Risk' and for the year ending
31st March 2018, reported a pre-tax profit of negative £50,000 and total net worth of £28,510,000 (Source: Experian Group 29/10/2019).

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.