Leisure/hospitality for sale

Wood Street, Willenhall WV13

Summary

Being Sold via Secure Sale online bidding. Terms & Conditions apply.
Suitable for investors / developers


An exciting opportunity to acquire a substantial and versatile commercial premises with associated land, offering excellent potential for a variety of future uses, subject to the necessary planning permissions.

The property extends to approximately 13,000 sq ft in total, comprising approximately 6,500 sq ft on the ground floor and a further 6,500 sq ft on the first floor.

Under the proposed future layout, the building could be divided into five separate sections.

Part of the property is currently occupied by a tenant under a five-year lease at a rent of 1,600 per calendar month. The tenancy relates solely to an approximately 2,000 sq ft section situated at the rear of the first floor.

The tenant benefits from exclusive use of this area, together with a separate private entrance and staircase. The leased accommodation also includes three washrooms.

The property currently comprises a ground-floor shopfront/office with a large display window, together with roller-shutter access leading into a substantial traditional workshop/industrial area. A further roller-shutter door provides access to the external yard, while the first floor offers additional office accommodation.

The existing buildings could be renovated and retained for commercial use, potentially suiting a range of businesses requiring workshop, storage, office or trade premises. Alternatively, the site may offer development potential for residential dwellings, subject to obtaining the appropriate planning consent.

Viewing is highly recommended to fully appreciate the size, versatility and potential this unique property and site have to offer.

Description

An exciting opportunity to acquire a substantial and versatile commercial premises with associated land, offering excellent potential for a variety of future uses, subject to the necessary planning permissions.

The property extends to approximately 13,000 sq ft in total, comprising approximately 6,500 sq ft on the ground floor and a further 6,500 sq ft on the first floor.

Under the proposed future layout, the building could be divided into five separate sections.

Tenure

WM562330 - Freehold

Location

Wood Street, Willenhall.

Additional Information

For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment.

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.