Be the landlord of an 80 year-old Black Country corner shop, along with a neighbouring business and flats - guide price here
A property housing one of Willenhall's most established businesses which brings in rent of more than £33,000 is going under the hammer
It is one of Willenhall’s most established businesses - and the property in which it sits is going up for auction.
Willenhall Hardware has operated from 44 Market Place for approximately 80 years, with the current tenant in situ since 2001.
The property also houses Strength in Numbers accountants next door and three flats - collectively, the businesses and the flats bring in more than £33,000 a year, according to the listing from Bond Wolfe auctioneers.
They say 44 Market Place in Willenhall will have a guide price* of £300,000+ in the livestreamed auction on Thursday 26 March.
The property occupies a prominent corner position fronting Market Place and with a return frontage to Cross Street in the heart of Willenhall town centre.
The area features a good mix of retail, professional, pubs, cafes and takeaways, including a Lloyds Bank, the Post Office and a large Morrisons Food Store.
Ian Tudor, commercial auction director at Bond Wolfe, said: “This is an attractive, three-storey property, with two retail units on the ground floor, and a separate two-storey building to the rear.
“Willenhall Hardware has been at the site for approximately 80 years, with the current tenant in occupation for the last 25 years.
“The hardware store includes a main retail area and shared toilet, and then next door is Strength In Numbers, a small accountants’ office.
“The flats have separate access and include Flat 1 on the first floor and Flat 2 is on the second floor, both with hallway, lounge, double bedroom, kitchen and bathroom.
“Both flats are very well presented throughout and benefit from gas central heating.
“To the rear is Flat 3 in the two-storey, standalone building, with well-presented accommodation including a lounge and kitchen on the ground floor, and a bedroom and bathroom on the first floor.”
Will the businesses and tenants remain in place after a sale?
Bond Wolfe explained that the freehold property will be sold subject to the existing tenancies, which currently generate rents totalling £33,600 per annum.
Willenhall Hardware is on a six-year lease until April 2031 at a current rent of £8,400 per annum.
Strength In Numbers is on a five-year lease until April 2030 at a current rent of £4,200 per annum.
Flat 1 is rented for £6,600 per annum, Flat 2 for £7,200 per annum and Flat 3 for £7,200 per annum.
44 Market Place will be among a score of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday 26 March.
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.
