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Platts Rd - The Crystal Centre 1,071 - 4,415 SF Retail Condo Units Offered at $419,703 Per Unit in Stourbridge DY8 4BX
INVESTMENT HIGHLIGHTS
- Prime location
- Ample car parking
- Good transport links
EXECUTIVE SUMMARY
The Crystal Centre is a 1990s retail/convenience development comprising three ground and one first floor units. The site lies on a prominent corner site which is accessed from Platts Road, there is a 42 space communal car park. The property occupies a prominent position at the busy intersection of the A491 Audnam High Street, Platts Road and Brettell Lane (A461), one mile to the north of Stourbridge town centre. The A491 has almost 25,000 traffic movements daily and is one of the main arterial routes into Stourbridge from north of the town. The road connects directly into the A449 Wolverhampton Road which provides direct access to Wolverhampton. The A461 leads north east to Brierley Hill and the Merry Hill Shopping Centre. The property is situated in a busy retail and commercial area with nearby occupiers including Lidl (opposite the property), a selection of local shops, VW, Fiat, Hyundai, Toyota and Vauxhall dealerships and trade occupiers such as Magnet and Halfords Autocentre. Merry Hill Shopping Centre is 21/2 miles to the east.
PROPERTY FACTS
| Total Building Size | 23,117 SF | Typical Floor Size | 12,451 SF |
| Property Type | Retail | Year Built | 2005 |
| Building Class | B | Lot Size | 2.52 AC |
| Floors | 2 | Parking Ratio | 2.09/1,000 SF |
| Total Building Size | 23,117 SF |
| Property Type | Retail |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 12,451 SF |
| Year Built | 2005 |
| Lot Size | 2.52 AC |
| Parking Ratio | 2.09/1,000 SF |
AMENITIES
- Bus Line
- Corner Lot
- Security System
- Signage
- Energy Performance Rating - C
- Storage Space
- Monument Signage
2 UNITS AVAILABLE
Unit Unit 4
| Unit Size | 1,071 SF | Tenure | Long Leasehold |
| Price | $419,703 | Sale Status | Under Contract |
| Price Per SF | $391.88 | Cap Rate | 6.63% |
| Condo Use | Retail | NOI | $27,826.34 |
| Sale Type | Investment |
| Unit Size | 1,071 SF |
| Price | $419,703 |
| Price Per SF | $391.88 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Sale Status | Under Contract |
| Cap Rate | 6.63% |
| NOI | $27,826.34 |
DESCRIPTION
The subject unit adjoins the Tesco Express, it is a ground floor lock up shop with separate customer and staff entrance doors. The unit has been divided into customer, kitchen and prep areas, office and stores. Externally the overall site is accessed off Platts Road and has 42 shared car parking spaces.
SALE NOTES
Virtual freehold. New 999 year lease at a peppercorn rent. Offers sought in excess of £315,000.
Unit Unit 3
| Unit Size | 4,415 SF | Sale Type | Investment |
| Price | $419,703 | Tenure | Freehold |
| Price Per SF | $95.06 | Cap Rate | 10.00% |
| Condo Use | Retail | NOI | $41,970.34 |
| Unit Size | 4,415 SF |
| Price | $419,703 |
| Price Per SF | $95.06 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 10.00% |
| NOI | $41,970.34 |
DESCRIPTION
The unit is a former Bathstore showroom, predominantly at first floor level fronting onto Platts Road and the subject car park. The unit has been fitted out as a children’s soft play centre. The ground floor entrance is within the main retail frontage and has a small lobby area, a staircase and customer lift leading to the first floor.
SALE NOTES
The freehold is being offered. Offers sought in excess of £315,000.
Unit 3
Unit 3
Unit 3
NEARBY MAJOR RETAILERS
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Platts Rd - The Crystal Centre
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