LOT 6 · COMMERCIAL PROPERTY
10 Victoria Street
Wolverhampton, WV1 3NP
An Commercial Investment Producing £18,000 Per Annum. Offered with Future Development Potential (Subject to Consents)
Property description
The property comprises a mid terrace building arranged to provide a ground floor restaurant with first floor ancillary accommodation.
The property is subject to a lease for a term of 20 years commencing 2nd June 2023 at a rent of £18,000 per annum. Rent review in 2026 and every 5 years after.
Accommodation
Accommodation
Ground Floor
Restaurant Area
G.I.A. Approximately 1,515 sq ft
First Floor
Ancillary Accommodation
WCs
G.I.A. Approximately 1,060 sq ft
Location
The property is situated Victoria Street close to local shops and amenities. Nearby multiples include Waterstones, Oxfam and McDonald's. The open spaces of West Park are within easy reach. Transport links are provided by Wolverhampton rail station.
Addendum
Guide Price Changed to £165,000+ There is an additional buyers premium of £1,500 including VAT applicable on this lot. This is in addition to the buyers admin fee of £1,500 including VAT. Both fees are payable to the auctioneers.
Run the Numbers
Explore rental returns and monthly repayments for this property.
Your rental returns
- Gross yield
- 10.9%
- Net yield
- 10.9%
- Annual income
- £18,000
Net yield deducts your annual running costs, before tax and finance.
Yields use the purchase price and assume 12 months’ rent. Include maintenance, insurance, management and vacancy allowances in annual costs. Tax, finance and purchase fees are excluded.
Illustrative estimates only, not financial advice or a lending offer. Confirm funding and the completion deadline before bidding.
Additional Fees & Important Information — Swift Property Auctions
Buyer's Premium & Disbursements
Some lots may include additional charges on completion. Full details are contained within the legal pack and addendum and should be reviewed before bidding.
Guide & Reserve Prices
Guide prices reflect the seller's minimum expectation at the time of listing. They are not valuations and may change prior to auction. All lots are offered subject to a Reserve Price, being the minimum the seller has authorised a sale at.
Administration Fee
A fee of £1,800 (including VAT) is payable on exchange, unless stated otherwise in the addendum.
Available Prices (Post-Auction)
Where a property remains unsold, an Available Price may be advertised. This reflects the seller's expectations post-auction and is subject to contract.
Reliance on Guide Prices
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Fees, VAT & Additional Charges
Guide Prices exclude the buyer's fee, VAT (if applicable), and any seller's costs. These are detailed within the Special Conditions of Sale.
Accuracy & Property Condition
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Withdrawn or Pre-Sold Lots
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