Waterloo Road, Wolverhampton, West Midlands, WV1

LOCATION

The property enjoys a prominent corner location on the outskirts of the City Centre.

There is ample free car parking close to the subject property for staff and customers alike.

Wolverhampton is one of the sub-regional centres in the West Midlands and had a population of 263,700 in the 2021 census.

DESCRIPTION

The property comprises two interlinked buildings with a prominent road frontage that benefits from high footfall in a well-known location.

The first and second floors have been converted into four apartments which are currently income generating.

CONSTRUCTION

The property is constructed of brick with some rendered panels. Period style, timber shop fronts have been installed to both units. There is decorative wrought ironwork around a balcony feature above the front of the property. Period style sash windows are installed throughout.


ACCOMMODATION

Description FT² (M²)

Property A
Restaurant 850 (78.87)
Kitchen plus Customer Toilets 202 (18.82)
Wine Cellar, Stores & Toilet 181 (16.876)
Total 1,233 (114.56)

Property B
Counter/Servery 332 (30.8)
Kitchen and Food Preparation 266 (24.76)
Cellar 564 (52.44)
Total 1,162 (180)

Total 2,395 (294.56)

In addition the upper floors have been converted to create two 1 bedroom apartments and two 2 bedroom apartments all with independent access.

RATING

The property is split into a number of hereditaments with the following values.

£11,250
£4,600
£14,750

The lets are understood to be Council Tax Band A.

TENURE

The freehold interest in the property is available for sale with vacant possession of the restaurant and takeaway. The flats are understood to be occupied under Assured Shorthold Tenancies.

ENERGY PERFORMANCE CERTIFICATE

Energy Performance Asset Rating is 52C valid until 11th March 2035 for the commercial areas. The residential elements are between C and E ratings.

THE BUSINESS

The restaurant and adjacent pizzeria/takeaway have been established for nearly 30 years and enjoy an enviable reputation for fine food and an excellent dining experience.

The business has traded successfully for many years and offers significant potential for further expansion.

Copy accounts are available to seriously interested parties.

GUIDE PRICE

The business and the freehold interest in the property are available for sale as one lot with a guide price of £1,495,000. Trade fixtures and fittings plus stock available at valuation if required. Alternatively, the owners may consider granting a lease on the operational elements of the property and agreeing a separate deal on the business as a going concern.

VIEWINGS

Viewings by appointment only. All enquiries to First City 'The Property Consultancy' on quoting reference 5396. Ask for Christopher Bywater