•For Sale By Online Auction: 21st – 22nd November
•Guide Price: £1,400,000 – £1,500,000 +
•Freehold warehouse unit with two story office
•Part let at £21,000 pax (6,233 sq. ft)
•Approximately 44,486 sq ft (4,133 sq m)
The main warehouse comprises of a steel portal framed construction with brick/blockwork and insulated metal profiled sheet external walls.
The main warehouse has two 5m by 5m electric powered roller shutter doors. The height of the underside of the haunch is approximately 5.2 meters and the height to apex is approximately 6.4 meters.
The office space is set over two stories. The ground floor office space is predominantly open planned and has two WCs and kitchen. Second floor office space is made up of modular offices. The office space is fully carpeted, with surface mounted wet radiators, Cat II lighting and air-conditioning.
The property is located off Stourvale Road, Lye, the property is located in a predominantly industrial area which is located off the A458.
The immediate vicinity lends itself to industrial use due to its close proximity to the towns of Wolverhampton, West Bromwich and the city of Birmingham lies just 11 miles due east of the property. In addition, the motorway network is accessible via junction 2 of the M5.
Lye train station is located approximately 0.6 miles from the property.
Eight car parking spaces are located to the front of the property and there is a decent sized yard, providing further ample parking.
Warehouse – 35,130 sq ft (3,264 sq m)
Offices – 3,113 sq ft (289 sq m)
Investment property – 6,233 sq ft (579 sq m)
Total – 44,486 sq ft (4,133 sq m)
Site Area – approx. 1.5 Acres (0.6 Hectares)
•Warehouse and Premises £120,000.
•Pure Glow Limited £17,250.
Total rates payable of £67,664 based on the 2018 – 2019 standard multiplier of 49.3p.
We understand the property has 3 phase electricity, gas, water and drainage. However, interested parties should carry out their own investigations.
2% inc VAT (minimum £3,600 inclusive of VAT)
Sellers Chartered Surveyors
The main warehouse and office accommodation is vacant.
The self-contained unit (6,233 sq. ft) is let to Pure Glow Limited by way of a lease expiring on 30th November 2018. The lease is held on a full repairing basis subject to a Schedule of Condition. The lease is excluded from the Security of Tenure provisions of the 1954 Landlord &Tenant Act. The rent passing is £21,000 pa. The tenant has advised they would like to remain in occupation, but vacant possession can be obtained on 30th November 2018, if required.
If the entire unit was let as one investment, it is likely a rent of £3.50 per sq. ft would be achieved, equating to approx. £155,000 per annum.