Investment, For Sale
7 - 9, Tamworth Street, Lichfield, Staffs, WS13 6JP.
Details
Property reference:
CA/BP/2413/KMC
Address:
7 - 9, Tamworth Street, Lichfield, Staffs, WS13 6JP.
Location:
The property is located in the heart of Lichfield city centre, opposite Boots Chemists and Hindleys Bakery and adjacent to ES Jewellery. Lichfield itself lies approximately 12 miles equidistant between Walsall to the south west and Burton upon Trent to the north east. It has excellent communication links with the M6 Toll Road, the A5 and the A38.
Description:
The property comprises a handsome brick and tile Grade II listed premises. The ground floor double fronted shop is let to Done Brothers (Cash Betting) Limited trading as Betfred and the two residential flats over have been sold on a long leasehold. The property is being offered on a freehold investment basis.
Detailed Specification
- Size: 2,000 sq ft (185.8 sq m)
- Price/ Rent: Offers around £385,000 plus VAT.
- Accommodation:
All measurements are approximate:
Ground FloorRetail and ancillary space occupied by Betfred.
2,000 sq ft (185.8 sq m)
First & Second Floors
Two self-contained residential properties sold on a long leasehold.
Outside
Secure rear yard and side alley.
- Planning: We understand all mains services are available.
- Local authority: Lichfield District Council Tel: 01543 308000.
- Viewing: Strictly by prior appointment with the Agent's Cannock office.
- V.A.T.: VAT is applicable to the purchase price.
- Legal Cost: Each party to bear their own legal costs in this matter.
- Service Charge: A service charge is levied for the maintenance of the communal parts.
- Rateable Value: £31,000 - VOA.
- Rates Payable: £15,469.00 - 2025/2026.
- Further Information:
The freehold of this investment property is available with the income from the lease to Done Brothers (Cash Betting) Limited dated 10th April 2024. The current rent is £33,750 per annum exclusive and the lease is for a 5 year term ending on 9th April 2029. Done Brothers (Cash Betting) Limited was incorporated in September 1976.
The two first and second floor flats, 7A & 9A, have been sold on a long leasehold basis for 125 years from 1st December 2013 at a ground rent of £250 per annum.
The total annual income from the property is therefore currently £34,250 pa.
Disclaimer: Messrs. Andrew Dixon & Co. (and their joint agents, where applicable) for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that : (1) The particulars are set out as a general outline for the guidance of intending purchasers or lessors, and do not constitute, nor constitute part of, an offer or contract. (2) Any information contained herein (whether in the text, plans or photographs etc.) is given in good faith but without responsibility and is believed to be correct. Any intending purchasers or tenants should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (3) No employee of Messrs. Andrew Dixon & Co. has any authority to make or give representation or warranty whatsoever in relation to this property. (4) Whilst every care has been taken to prepare these particulars, we would be grateful if you could inform us of any errors or misleading descriptions found in order that we may correct them in our records.
