Property overview

Savers, 58-59 Union Street, Wednesbury

sold

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£410,000
Jun 2014

Franck Steier Price has recently completed the sale of a prime retail unit on behalf of Fixed Charge Receivers.

The property is located in the 100% prime pitch in Wednesbury.  The property comprises a retail unit on ground floor with first floor ancillary accommodation.  The total floor area is 2,109 sq.ft with an ITZA of 1,001 units.

The property is let to Savers Health & Beauty Plc on full repairing and insuring terms on a lease expiring 10th August 2020.  The current rent is £35,500 per annum.

The purchase price of £410,000 reflected a net initial yield of 8.26% after purchaser’s costs of 4.80%.