Various Retail Premises to Let
Wolverhampton Station is currently undergoing a major refurbishment project which will result in 6 new retail/ catering units being created over 2 phases of the scheme.
The development is part of a £150m scheme to deliver an integrated transport hub incorporating train, bus and tram services, and will complement a wider large-scale regeneration of Wolverhampton city centre. The Midland Metro tram service will stop at the bus station and be further extended to the station providing an easy convenient transport interchange.
Wolverhampton Station is situated on Corn Hill in the centre of the city. The main bus station is located adjacent to the station.
Information from the ORR states that there were 4,993,372 passenger entries and exits in 2017-18.
The station development will deliver 6 new retail units over 2 phases.
Phase 1, scheduled to complete in late 2019 will deliver 3 new units suitable for catering/convenience/retail. A further three units will be delivered under phase 2 which is due to complete in summer 2020.
Full details of each unit are provided on the following pages. WMT are inviting offers for each of the units. Interested parties should note that the existing tenancies located on platforms 2/3 and platform 4 will continue to trade during, and after the development.
Lease terms will be negotiable but it is anticipated that a minimum term of 6 years will be offered for Phase 1 units and a minimum 5 year term offered for Phase 2 units. Longer lease lengths can be negotiated, subject to the approval of the Superior Landlord, Network Rail.
All leases will be subject to a landlord’s option to break on six months’ notice or 28 days in case of urgent station works. The leases will be excluded from the security of tenure provisions of the 1954 Landlord & Tenant Act.
There will be a rent review on each third anniversary of term commencement. Standard Railway Lease Terms will apply. The lease will not permit assignment or sub-letting. The incoming tenant will be expected to pay for Landlord and Superior Landlords costs associated with the grant of this lease.
We are inviting offers of a Minimum Guaranteed Rent with a turnover top-up rent. Interested parties are requested to submit their financial offers, stating which unit(s) their offer refers to, no later than 1200 on Friday 16th August 2019.
The tenant will be responsible for all utilities, business rates and insurance.
The Landlord will require payment of a Service Charge contribution.
David Murray – Senior Portfolio Manager
Email : firstname.lastname@example.org
Tel : 020 7921 2936
Stephen Ames – Director
Email : email@example.com
Tel : 0208 7921 2934