4-4A Cross St 2,156 SF 66% Leased Retail Building Willenhall WV13 1PG $486,268 CAD ($225.54 CAD/SF) 4.62% Cap Rate

The premises comprise two vacant ground floor lock up shops with first floor office accommodation and a second floor 1 bedroom flat. The ground floor shops can be let as two individual premises or combined to create one large retail space suitable for a variety of uses. The first floor offices and flat are both tenanted. N.B. Planning permission was granted in 2016 (16/1526) to convert the first floor office accommodation to 2 x 1 bed studio and 2 x 1 bed apartment.
The property is freehold and subject to the following tenancies. Ground floor units are both currently vacant. The first floor is let by way of a Licence dated 3rd December 2018 to Active Training Group Ltd at £6,600 per annum. The Licence has expired and the tenant is holding over. The second floor flat is let by way of an AST at £5,400 per annum. The total current income is £12,000 per annum, with scope to increase this to circa £26,000 per annum once the shops have been let.