Ground rent on row of Walsall town centre retail and residential units up for auction

The freehold commercial ground rent on 81-89 Bridge Street is being offered on behalf of Walsall Council to appear in Bond Wolfe’s live-streamed auction with a guide price of £180,000.

Ron Darlington, consultant director at Bond Wolfe, said the ground rent was secured on a block of five retail units with four residential apartments above.

“The businesses and residences will remain unaffected by the sale of the ground rent,” he said.

“The property is subject to a 99-year lease from December 25, 1936, so with some 11 years remaining.

"It is subject to a ground rent of £87.48 per annum without review – all premises have been sub-let by the current lessee.

“The legal pack on this property contains further details and a copy of the lease.”

Commercial ground rents are particularly appealing to institutional investors such as pension funds and insurers as they provide long term income streams and are seen as an attractive alternative to stocks and shares and government bonds.

The Bridge Street ground rent is just one of 191 lots that are appearing in Bond Wolfe’s next auction, which will start at 8.30am.

If you have a property you are considering selling, visit bondwolfe.com/free-property-appraisal, email auctions@bondwolfe.com or call 0121 312 1212.