Where is the High Street located?
The shop to let is located in the Centre of Wolverhampton on Lichfield Street. Lichfield Street connects with Princes Street immediately to the east and Queen Square to the west.
Surrounding occupiers include University of Wolverhampton, Wolverhampton Art Galley, The Grand Theatre and a good range of high street retailers and professional services.
The train and bus stations are just a 0.4 mile walk to the east.
Mid terrace retail unit to let with suspended ceiling and Air Con. Open plan trading area with rear kitchen, storage, customer and staff WC. Ready for occupier fitout. First floor offices in need of renovation.
How has the accommodation been measured?
The accommodation has been measured on a Net Internal Area (NIA), measured in accordance with the RICS Code of Measuring Practice.
The premises occupies a high street location and is imminently suitable for a broad range of uses STP. The most recent amendment to the The Town and Country Planning (Use Classes) (Amendment) (England) Order 2015, has now classed betting shops as Sui Generis (a use that does not fall within any use class). There is a permitted change of use to Class E - Commercial Business and Service.
All mains services are connected to the property.
What is the Ratable Value?
The property is currently listed as a betting shop and premises on VOA.gov.uk.
The 2023/24 Retail, Hospitality and Leisure Business Rates Relief scheme will provide eligible, occupied, retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business.
How is the accommodation offered?
Shop to let by way of a new sublease to expire in May 2030. Interested parties are invited to discuss their specific leasing requirements. Subject to individual covenant and terms an assignment, tenancy at will or surrender and re grant may be possible. Where superior Landlords consent is required, a 50% contribution to superior Landlord costs is requested
Rent: £17,000 per annum. Please check the VAT status.
All figures are quoted exclusive of VAT, we are advised the property is registered for VAT which shall be applicable at the prevailing rate.
What are the viewing arrangements?
Please check our website for a virtual tour. Physical viewings with proceedable parties can be arranged on request by contacting our commercial property agents. OMEETO do not take any responsibility for any loss or injury caused whilst carrying out a site visit.