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

January 2018

Waterloo Court, 31 Waterloo Road, Wolverhampton, WV1 4DJ

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The property comprises a prominent multi-let office building located in Wolverhampton city centre.  The building totals 41,053 sq.ft over seven floors with 77 secure car spaces on site.  The property is 95% let to 14 tenants.  WAULT of 2.93 years to expiries and 2.37 years to breaks.  Current rent of £359,169 per annum (low average rent of only £8.92 per sq.ft).  Asset management opportunities.  Offers sought in excess of £3,200,000 which reflects a net initial yield of 10.54% and a reversionary yield of 11.07%.  The underlying capital value is only £77.95 per sq.ft.