Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

October 2019

Prime Long Let Petrol Filling Station – Spar, Wolverhampton Road West, Willenhall, WV13 2RN

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under offer

The property comprises a new build prime petrol filling station investment located under 1 miles from J10 of M6 motorway and 1 mile east of Willenhall town centre.  The property occupies an unopposed trading position on Wolverhampton Road West with 9,500 vehicle movements per day.  New build 8 pump fuel forecourt with large convenience store incorporating Greggs and Subway concessions.  24 hour operation.  Let to A.F Blakemore & Son Ltd (Dun & Bradstreet rating of 5A1) one the UK’s largest family owned wholesale distributor and retailer of food produce and the operation of grocery based convenience stores.  New 25 year lease without break.  Passing rent £200,000 per annum.  The rent is subject to index linked 5 yearly uplifts to RPI collared at 2% and capped at 4% per annum compounded.  Offers sought for the freehold interest in excess of £3,575,000 which reflects a net initial yield of 5.25%.