A Substantial Mid Terrace Building Arranged to Provide a Lower Ground and Ground Floor Shop, and First and Second Floor Office Space Fully Let to CEX Ltd and Barclays Bank PLC Producing a Combined £55,000 Per Annum. Plans have also been Drawn Up for the First and Second Floors to be Converted into Nine Flats (Subject to Obtaining all Relevant Consents).

Accommodation

• Lower Ground Floor Basement approximately 174 sq m (1,877 sq ft)
• Ground Floor Retail Unit approximately 301 sq m (3,244 sq ft)
• First Floor Office Space approximately 167 sq m (1,801 sq ft)
• Second Floor Office Space approximately 185 sq m (1,992 sq ft)

Full description

A substantial mid-terrace commercial building arranged to provide a lower ground and ground floor shop, and first and second floor office space. The property comprises a total G.I.A of 8,914 sq ft. The lower ground floor basement (approximately 174 sq m / 1,877 sq ft) and ground floor retail unit (approximately 301 sq m / 3,244 sq ft) are let on an FRI lease to CEX Limited for 10 years from 27 November 2024 at a rent of £30,000 per annum. CEX have been in occupation since 2014. The first floor office space (approximately 167 sq m / 1,801 sq ft) and second floor office space (approximately 185 sq m / 1,992 sq ft) are let on an FRI lease to Barclays Bank PLC until 26 April 2027 at a rent of £25,000 per annum. The tenant has been in occupation for over 30 years and have recently renewed their lease. The vendor advises that Barclays Bank PLC are investing over £70,000 into the roof of the building. The vendor also advises that the tenant has verbally indicated an intention to renew the lease upon expiry, aligning the dates with an adjacent property they also occupy so they can renew on the same date. The property is situated in Dudley city centre close to local shops and amenities. Nearby multiples include B&M, Costa Coffee and Santander. Transport links are provided by Tipton rail station. The property is freehold. Plans have been drawn up for the first and second floors to be converted into nine flats, subject to obtaining all relevant consents. VAT is applicable.

Floorplan

Site plan

Location