Be a B&M discount store landlord in Staffordshire as retail unit goes up for auction - guide price here
A freehold retail unit currently occupied by discount store B&M is going up for auction - see our story for the guide price
A Staffordshire commercial property rented by national discount store B&M for nearly £120,000 a year is appearing in Bond Wolfe’s next auction.
The freehold retail investment at 22-26 Market Street in Hednesford, near Cannock in Staffordshire, will have a guide price* of £550,000+ in the livestreamed auction on Wednesday, December 10.
The entire property is at present let to B&M Retail Ltd for a term of 20 years until January 2028, although the tenant is not currently in occupation.
James Mattin, managing director at Bond Wolfe, explained that the rent of £119,620 would represent a high net initial yield of well over 20%, based on the guide price.
Mr Mattin said: “This two-storey property includes a large, double fronted shop with storage space on the ground floor, with staff facilities and more storage on the first floor.
“There is a loading bay at the rear with a yard and customer parking for up to eight vehicles.
“The property lends itself to a variety of alternative uses post lease expiry, including residential, subject to planning consent.”
There is a total of around 884 sq ft of space, with 827 sq ft on the ground floor and 57 sq ft on the first floor.
The property is located on the north side of Market Street, close to its junction with the A460 Rugeley Road and a short distance from Hednesford Rail Station.
Nearby businesses include Lloyds Bank, Age UK, William Hill and multiple local occupiers, with an Aldi supermarket behind the property.
Hednesford is approximately two miles north-east of Cannock, which is located about 18 miles north of Birmingham, nine miles west of Lichfield and eight miles north-east of Wolverhampton.
Cannock has a resident population of approximately 60,000 and the area benefits from good road communications via Junction 11 of the M6 motorway around three miles away via the A460.
The commercial property will be among 177 lots appearing in Bond Wolfe’s next auction, due to start at 8.30am on Wednesday 10 December.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email auctions@bondwolfe.com or call 0121 312 1212 or 01902 928 510.
* Each property is subject to a reserve price which may be different from the guide price. Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.
