Let to Starting Point Recruitment Limited Guaranteed by Steps To Work on a new 10 year lease until 2034 (subject to option).
Lease outside of the Security of Tenure provisions of the L&T Act 1954
Benefits from a 25 metre (82ft) frontage
Town Centre location directly opposite Walsall Town Hall
100m from Old Square Shopping Centre, 250m from Saddlers Shopping Centre and 350m from Walsall Train Station
Nearby Occupiers include Boots, JD Wetherspoon, New Look, Co-Op, Primark and an eclectic mix of local retailers
Lot 28
Auction 12th December 2024
Rent £50,000 per Annum Exclusive
Status Available
Guide* £300,000
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles north-west of Central Birmingham, 9 miles North-East of Dudley
Roads
A34, A4148, A454, M6 (Junction 10)
Rail
Walsall Railway Station
Air
Birmingham International Airport
Situation
The property is prominently situated in the heart of the town centre, on the south side of Lichfield Street, close to its junction with Bridge Street and directly opposite Walsall Town Hall. Old Square Shopping Centre, Saddlers Shopping Centre, Walsall Swimming & Fitness Centre and Walsall Railway Station are all nearby with other neighbouring occupiers including Boots, JD Wetherspoon, New Look, Co-Op, Primark and an eclectic mix of local retailers.
Tenure
Virtual Freehold. Held for a term of 999 years from the completion of sale at a fixed rent reserved of one peppercorn per annum exclusive.
Location
Miles
8 miles north-west of Central Birmingham, 9 miles North-East of Dudley
Roads
A34, A4148, A454, M6 (Junction 10)
Rail
Walsall Railway Station
Air
Birmingham International Airport
Situation
The property is prominently situated in the heart of the town centre, on the south side of Lichfield Street, close to its junction with Bridge Street and directly opposite Walsall Town Hall. Old Square Shopping Centre, Saddlers Shopping Centre, Walsall Swimming & Fitness Centre and Walsall Railway Station are all nearby with other neighbouring occupiers including Boots, JD Wetherspoon, New Look, Co-Op, Primark and an eclectic mix of local retailers.
Tenure
Virtual Freehold. Held for a term of 999 years from the completion of sale at a fixed rent reserved of one peppercorn per annum exclusive.
Description
The property comprises a ground floor commercial unit with substantial frontage to Lichfield Street and ancillary accommodation in the basement. The property benefits for a rear service yard with car parking.
The Freehold interest, including the upper floors with consent for 13 residential flats is being offered for sale separately as Lot 29.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Please confirm EPC status
Description
The property comprises a ground floor commercial unit with substantial frontage to Lichfield Street and ancillary accommodation in the basement. The property benefits for a rear service yard with car parking.
The Freehold interest, including the upper floors with consent for 13 residential flats is being offered for sale separately as Lot 29.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Please confirm EPC status
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Rent Review (Reversion)
Basement Ground
Ancillary Office
131.10 400.10
(1,411) (4,307)
STARTING POINT RECRUITMENT LIMITED (crn04560776) (2) guaranteed by STEPS TO WORK (crn: 03738249) (1)
10 years from 19th July 2024 (3)
£50,000
19th July 2029 (18th July 2034)
Total Approximate Floor Area
531.20
(5,718)
£50,000
(1) The floor areas stated above have been taken from the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/217907232) (2) Starting Point Recruitment Limited (crn04560776) were incorporated in 2002 and operate from offices in Walsall and Birmingham with clients including Unison and Arnold Clark. See https://startingpointrecruitment.co.uk/ (3) The lease provides for a tenant option to determine the lease on 19th July 2029 subject to 6 months written notice and the lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954.
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.
