Kenmare House

• An opportunity to acquire a self contained block of ground floor retail units with residential upper floors at a significant discount to owner occupier values. 
• Located in affluent Codsall, Wolverhampton with prominent frontage and secure parking on Station Road with nearby traders including Greggs, Your Co-op, Medicine Bakery and The Bull pub and hotel. 
• Three retail units at ground floor let to Central England Co-operative Limited t/a Funeralcare and Mid-Counties Co-operative Limited t/a Travel and Post Office producing 48.9% of the income.
• 10 upper floor apartments 8 of which are let on AST’s producing 51.1% of the income.
• Total income of £114,390 pa. 
• Reversionary potential through increasing retail and residential rents. Potential to sell off further apartments on long leaseholds for a premium price.
• Property not elected for VAT. 
• Freehold. 

Offers in excess of £1,400,000 (One Million Four Hundred Thousand Pounds) subject to contract, reflecting a Net Initial Yield of 7.70% allowing for purchaser costs of 5.95%. 

Adopting a 10% yield on the retail properties the upper floor apartments are at a c25% discount to owner occupier vacant possession sale pricing.