Victorian Shopping Arcade, Walsall

Property Description

• High-yielding retail arcade investment in the busy town centre location of Walsall, one of the West Midlands principal commercial destinations
• The property comprises an attractive Freehold Victorian Arcade, conveniently located on the pedestrianised pitch between the two principal shopping centres
• Comprising 35,724 sq.ft. across 38 retail units and additionally 14 residential units
• Situated opposite a new 44,000 sq.ft.
• Primark store, significantly enhancing the retail pitch at the front of the property
• The property offers the opportunity to add significant value through short term asset management initiatives and the potential to add further residential accommodation on upper parts subject to planning
• Residential components on upper floors with total rental income of £97,080.00 p.a.
• Total gross income of £756,076.64 p.a.
• Projected annual profit of £624,564.64 p.a after staff wages, utilities, maintenance and insurance expenses
• Based on asking price of £5,750,000, a purchase at this level represents a net initial yield of 12.17% and a Triple Net initial yield of 10.19%

Location Description

• Walsall is one of the West Midlands principal commercial centres and is situated approximately 10 miles North-West of Birmingham and 8 miles East of Wolverhampton.
• According to the most recent 2021 census, Walsall’s population stands at 284,306.
• Walsall benefits from excellent road communications, with easy access to the intersection of the M5 and M6 motorways, providing links to the wider national motorway network.
• Situated in the heart of the town centre and just 500 yards from the Victorian Arcade is Walsall Railway Station, accessed via The Saddlers Centre. The station offers fast and frequent services to Birmingham New Street with an average journey time of 23 minutes.
• Railway services to London Euston are also available throughout the day with travel times of less than 2 hours.
• The Arcade is located on the pedestrianised pitch between the two principal shopping centres, The Saddlers Centre and Old Square Shopping Centre. The property is bordered on three sides by Branford Street, Digbeth and Lower Hall Lane, with each providing its own access into the Victorian Arcade. The arcade enjoys frequently high footfall due to its close proximity to the town’s bus station, taxi ranks and numerous car parks.
• A new 44,000 sq.ft. Primark store has enhanced the pitch at the front of the property and thanks to a wide range of high-street retailers, boutiques, restaurants, pubs and bars, the area continues to draw in consumers from across the West Midlands and further afield.

Additional Notes

• We have been instructed to seek offers in excess of £5,750,000 (Five Million, Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level will reflect a net initial yield of 12.17% and a triple net initial yield of 10.19%, assuming purchasers costs of 6.8%.