86 Bradford Street, Walsall

Description

A freehold town centre retail investment opportunity. The property currently trades as a European mini market and comprises a two-storey mid-parade property extending to approximately 2,040 sq. ft. (189.59 sq. m) or thereabouts.

Accommodation

Ground Floor: Retail shop with ancillary areas to the rear. First Floor: Staff WCs and storage.

Location

The property occupies a prominent location in Walsall Town Centre on pedestrianised Bradford Street, close to the Saddlers Shopping Centre and Crown Wharf Retail Park. The principal town centre car parks serving Walsall are located within the Saddlers Shopping Centre and Crown Wharf. Walsall is approximately 10 miles north of Birmingham city centre and 8 miles east of Wolverhampton. The town is within 4 miles of the intersection of the M5/M6 motorways, with Junctions 9 and 10 of the M6 within 2 miles of the western periphery of the town.

Tenure / Property Information

Investment Analysis

Evidence supports an indicative value range of £195,000–£250,000, based on Bradford Street sales ranging from £190,000 to £250,000 and the subject's own 2023 sale at £195,000. The £375,000 comparable is materially higher but lacks sufficient detail for direct reliance. A base GDV of £220,000 is adopted, broadly consistent with the guide and the nearby 2025 sale at £200,000. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Commercial income hold at or below the guide, subject to satisfactory review of the lease, tenant covenant, EPC and legal pack. The existing £20,000 annual rent provides the principal investment case; flipping is not supported by the supplied figures.

Works Required

No physical defects or refurbishment requirements are identified in the supplied evidence. Allow for normal inspection, lease/legal review and any works revealed by the legal pack or inspection; no works budget is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £220,000 guide, adding the known £2,700 administration charge gives a base cost of £222,700, excluding any unknown legal-pack costs, finance, tax or VAT effects. A 75% refinance against the £220,000 base GDV would be approximately £165,000, leaving indicative cash tied up of £57,700 before finance and tax. Actual commercial refinancing depends on lender valuation, lease terms and tenant covenant.

Buy-to-Let Analysis

This is a commercial investment rather than a residential BTL. The passing rent is £20,000 per annum, equating to a 9.09% gross yield at the £220,000 guide, or 8.98% including the known £2,700 administration charge. The tenancy runs to 20 December 2032, but tenant covenant, repairing obligations, rent review provisions and other lease terms require legal-pack review.

Flip Analysis

A base GDV of £220,000 is adopted from the supplied Bradford Street evidence. At a guide-price purchase, the known-cost base total is £222,700 before selling costs, finance, tax and any unknown legal-pack costs, so a profitable flip is not demonstrated. No supported selling-cost allowance is available.

Investor Risks & Due Diligence

• The property is subject to an existing tenancy expiring on 20 December 2032; renewal, re-letting and vacant-possession outcomes are not evidenced.

• Tenant covenant and full lease terms, including repairing and rent review obligations, have not been supplied.

• EPC details are only referred to as being in the legal pack.

• VAT is stated to be payable, with TOGC anticipated, but the final treatment and any additional completion costs are not confirmed.

• Additional costs excluding the £2,700 administration charge may be payable under the special conditions.

• The supplied comparables show a wide price range and are not sufficiently detailed to establish a formal valuation.

Recommendation

Commercial income hold at or below the guide, subject to satisfactory review of the lease, tenant covenant, EPC and legal pack. The existing £20,000 annual rent provides the principal investment case; flipping is not supported by the supplied figures.

Strategy Rating

Analysis Confidence

The passing rent, lease expiry, guide, administration charge and several nearby sales are supplied. Confidence is reduced by limited comparable detail, unavailable lease terms, unknown EPC/legal-pack costs and no condition evidence.