Summary - Wheel Lane, Lichfield WS13 7EA
1 bed 1 bath Retail Property (high street)
Compact, income-bearing retail with flat above in central Lichfield.
Income-producing mixed-use freehold generating £18,900 pa
An income-producing high-street investment in central Lichfield, offered freehold and sold by auction. The property comprises ground-floor retail premises with rear loading access and a two-bedroom apartment above, currently producing a combined £18,900 per annum. Its location on Wheel Lane benefits from steady footfall and a family-oriented neighbourhood profile.
The retail unit is arranged as two open-plan areas plus rear store and wash facilities, currently let as a hair and beauty salon on a lease from January 2023 (three-year term) at £875 pcm. The upper flat is let on a periodic tenancy at £700 pcm, providing flexible residential income alongside the commercial rent.
This is a compact mixed-use building (approx. 440 sq ft) with mid-20th-century elevation and standard ceiling heights. It suits an investor seeking immediate income and simple management, or a buyer prepared to review leases on expiry. Buyers should note auction conditions: binding contracts on sale, a 5% deposit (min £5,000) and a buyers’ fee (3.6% of price, min £6,000 inc VAT) payable on completion. Review the Legal Pack for any special conditions and fees.
Practical considerations include the modest internal size and the fact the retail is currently occupied under an existing lease — income continuity depends on tenant performance or re-letting on term expiry. There is rear access and good local amenities, but purchasers must budget for auction fees and read the legal documents before bidding.
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