Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment let to the undoubted covenant of Telefonica UK Limited (t/a O2).
Arranged across ground and first floors, the property is fully let to Telefonica UK Limited (t/a O2) on a lease expiring March 2026 and paying a rent of £65,000 per annum.
Situated with a frontage to Dudley Street, the property forms part of the prime, pedestrianised retail area of Wolverhampton. Nearby occupiers include, Primark, M&S and McDonald's.
The area is seeing significant investment, with the street currently being re-surfaced. Additionally, a number of new leases have recently been agreed, most notably to Black Sheep Coffee in the adjacent unit. We understand this letting is for a 15 year lease at a headline rent of £60,000 per annum.
Tenure
Freehold
Tenancy
The property is let on a new five year lease to Telefonica UK Limited (t/a O2) for a term expiring March 2026 and paying £65,000 per annum.
The lease is on full repairing and insuring terms and has no breaks.
Telefonica UK Limited
O2 is one of the UKs largest mobile networks.
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC)