47 and 48 Dudley Street Wolverhampton West Midlands WV1 3ER

47 and 48 Dudley Street
Wolverhampton
West Midlands
WV1 3ER

  • 47 and 48 Dudley Street<br>Wolverhampton<br>West Midlands<br>WV1 3ER

Freehold Retail and Dentist Investment

  • Retail Unit Let to Sportswift Ltd t/a Card Factory on a Re-geared Lease Until September 2032 (No Breaks)
  • Prime Pedestrianised City Centre Location
  • Substantial Retail Unit and Dental Surgery and Self Contained Offices
  • Neighbouring Occupiers Include Marks & Spencer, Primark, H&M, McDonald’s, Starbucks and Next and the Major 70 Unit Mander Shopping Centre
  • Lot
    25
  • Auction
    18/May/2022
  • Rent
    £114,850 per Annum Exclusive
    (4)
  • Status
    Available
  • Price*
    £850,000 - £900,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
13 miles north-west of Birmingham, 61 miles south of Manchester
Roads
A4150, A41, A460, M54, M6
Rail
Wolverhampton Railway Station
Air
Birmingham Airport, East Midlands Airport
Situation

The property is prominently located on the west side of the prime pedestrianised Dudley Street, in the heart of Wolverhampton city centre. Neighbouring occupiers include Marks & Spencer, Primark, H&M, McDonald’s, Starbucks and Next.

The property is situated adjacent to the busy and popular Mander Shopping Centre. The Centre has 70 units and 530 space multi storey car park. Occupiers include Clarks, B&M, JD Sports, Matalan and Rymans.

Tenure

Freehold.

Location
Miles
13 miles north-west of Birmingham, 61 miles south of Manchester
Roads
A4150, A41, A460, M54, M6
Rail
Wolverhampton Railway Station
Air
Birmingham Airport, East Midlands Airport
Situation

The property is prominently located on the west side of the prime pedestrianised Dudley Street, in the heart of Wolverhampton city centre. Neighbouring occupiers include Marks & Spencer, Primark, H&M, McDonald’s, Starbucks and Next.

The property is situated adjacent to the busy and popular Mander Shopping Centre. The Centre has 70 units and 530 space multi storey car park. Occupiers include Clarks, B&M, JD Sports, Matalan and Rymans.

Tenure

Freehold.

Description

The property is a substantial retail unit benefitting from a significant frontage onto Dudley Street comprising ground floor retail accommodation with lower ground floor ancillary accommodation and Dental Surgery on the first floor and self contained office accommodation on the second floor.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is a substantial retail unit benefitting from a significant frontage onto Dudley Street comprising ground floor retail accommodation with lower ground floor ancillary accommodation and Dental Surgery on the first floor and self contained office accommodation on the second floor.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Reversion
Ground
Lower Ground
Retail
Ancillary
277.20 sq m
258.20 sq m
(2,983 sq ft)
(2,779 sq ft)
SPORTSWIFT LIMITED
t/a Card Factory
(CRN 03493972)
(1) (2)
10 years from 29/09/2017
£103,000
(4)
28/09//2027
First
Second
Dental Surgery
Office
91.70 sq m
96.80 sq m
(987 sq ft)
(1,041 sq ft)
HSS & PKS
DENTAL LIMITED
(CRN 12958015)
t/a City Dental Practice
and Brooke Street
with a Personal Guarantee
15 years from 29/09/2017
until 2032
£11,850
28/09/2032
Total Approximate
Floor Area
 
723.90 sq m
(7,790 sq ft)
   
£114,850
(4)
 

(1) For the year ending 31/01/2021 Sportswift Limited (CRN 03493972) reported a turnover of £265,024,000, a Pre-Tax Profit of negative £10,866,000 and a Net Worth of £36,831,000.
(2) As to the lease of the Retail Unit to Sportswift the lease has been recently re-geared to include the removal of the 2022 tenant option to determine the lease and a reduction of the rent from £100,000 p.a.x. to £80,000 p.a.x. The tenant has been in occupation since April 2013.
(3) As to the lease of the first and second floors the tenant has sublet the self contained second floor offices to Broad Street employment agency.
(4) As to the ground floor retail unit, the current rent reserved is £103,000 per annum exclusive. The rent reserved under the terms of the lease will be £80,000 per annum exclusive from 28/09/2022.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    11.05.22
    File Size
    102 MB
    Login to View
  • Brochure
    Updated Date
    29.04.22
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Mishcon de Reya Africa House, 70 Kingway
London
WC2B 6AH
0203 321 7932
Lizzie Gallop 020 3321 7932lizzie.gallop@mishcon.com  Nicholas Kirby 020 3321 7000nicholas.kirby@mishcon.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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