Mixed Use Investment Property.
LOCATION: The property is situated on the eastern side of the B4484 Temple Bar, Willenhall, approximately a third of a mile from the town centre. Junction 10 of the M6 Motorway lies within two miles to the east, thereby providing access to the Midlands and National Motorway Networks.
DESCRIPTION: The property comprises two adjoining, predominantly two storey, terraced properties of rendered brick construction surmounted by pitched tile roofs in the main. Number 29 consists of a two bedroom mid-terraced house, while number 30, located at the end of the terrace, is a Pizza Takeaway Shop on the ground floor with a self-contained studio flat over. A gated pedestrian walkway to the right hand side of the property leads to a small enclosed yard area at the rear.
GROUND FLOOR: Front living room measuring approximately 12ft 9ins x 11ft 8ins. Rear kitchen measuring approximately 10ft 10ins x 5ft 4ins plus understairs storage cupboard off. Rear lobby with bathroom off having fitted suite comprising bath with electric shower over, wash hand basin vanity unit and low w.c. suite.
FIRST FLOOR: Front bedroom number one measuring approximately 13ft 2ins x 12ft 1ins. Rear bedroom number two measuring approximately 10ft 9ins x 9ft 1ins plus recess.
Pizza Takeaway Shop trading as “Pizza Bar Willenhall”. L-shaped front retail/customer service area and open plan kitchen approximately 307 sq.ft. (28.52 sq.m.). Rear store approximately 51 sq.ft and adjoining toilet.
Approached via an external metal staircase from the rear yard. Front living/bedroom. Rear kitchen. Shower room/w.c.
SERVICES: Usual mains services are understood to be connected to the property. Number 29 has a gas fired central heating system 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: £2,150
Description: Shop and Premises
We have been informed that the takeaway is let subject to a 5 year lease from June 2022 at a current rent of £550 per calendar month/£6,600 per annum increasing to £600 per calendar month/£7,200 per annum for years 3-5. The tenant has a break clause after 18 months. Further, number 29 and the first floor studio flat are let by way of Assured Shorthold tenancies at rents of £600 per calendar month/£7,200 per annum and £450 per calendar month/£5,400 per annum respectively.
The total rental income is therefore presently £19,200 per annum, increasing from June 2024 to £19,800 per annum.
TENURE: Believed Freehold.
ENERGY PERFORMANCE CERTIFICATE: The shop at Number 30 has a rating of 81(D). The first floor studio flat, Number 30a, has a rating of 43(E). The house at Number 29 has a rating of 61(D). Copies of the EPCs will be available for inspection at the agent’s offices or on their web site.
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.