Investors eye fully-let Walsall office block in auction with price tag of £900k
A fully-occupied Walsall office block is set to catch the attention of investors when it comes up for sale at Bond Wolfe’s next auction, with a price tag starting at £900,000.
Forster House, on Hatherton Road, in the town centre, is predominantly occupied by recruitment agency Extra Personnel, which has made the building its headquarters for more than 20 years.
Along with a ground floor shop unit, the detached four-storey property generates £94,437.50 per annum in rental income and is listed in the livestreamed Bond Wolfe auction on Wednesday, March 27 with a guide price of £900,000.
Ian Tudor, commercial auction director at Bond Wolfe, said: “This is an attractive town centre investment property, providing 9,709 sq ft of space and generating a good return.
“At the same time we consider Forster House to have future residential development potential, subject to the appropriate planning permission.
“As a result, we expect considerable interest from property investors from both the UK and abroad when our livestreamed auction takes place."
The property is laid out to provide largely open plan office space with some partitioned offices and meeting rooms, with toilet and kitchen facilities on each floor.
Mr Tudor said: “The accommodation is well presented throughout, having carpet covered floors, suspended ceilings with recessed lighting, perimeter trunking, heating and air conditioning.
“The toilet and the kitchen facilities throughout have recently been refurbished. Access to each floor is via a six person lift and two stairwells.
"The ground floor provides a small retail unit and office suite with it's own WC and kitchen facilities. The property benefits from a large regular shaped site, with surface car parking to both the front and rear, providing approximately 35 parking spaces.”
The 455 sq ft ground floor retail unit is occupied on a five-year lease, starting from September 2022, to the Tropic Touch tanning salon.
The rest of the ground floor, and the first, second and third floors – which each measure 2,367 sq ft – are let to Extra Personnel on a five-year lease from June 24, 2020.
Mr Tudor added: “Offers for this property may be considered prior to the auction sale.”
For details, email auctions@bondwolfe.com or call 0121 312 1212.
