Pair of Rugeley shops have £150k auction price tag
A pair of shop units with residential development potential are likely to catch the eye of investors and developers alike when they come up at Bond Wolfe’s next online auction.
The mid-terraced units at 21 and 21a Lower Brook Street, Rugeley, already generate rent from the ground floor shops but the two unused upper floors are suitable for future conversion to residential use, subject to planning permission.
The property is listed in the livestreamed Bond Wolfe auction on Wednesday, March 27 with a guide price of more than £150,000.
Ian Tudor, commercial auction director at Bond Wolfe, said: “These units sit on the pedestrianised Lower Brook Street in a busy town centre trading position and currently generate £16,500 per annum in rental income.
“The two upper floors have been unused for many years but are considered to offer the potential for future residential conversion subject to obtaining the necessary planning permission.
“The freehold includes the rear yard with vehicle access across neighbouring land.”
21 Lower Brook Street is occupied by Wrights, a bakery and cake shop, and 21a by a branch of the Max Spielmann photographic chain. Wrights has a six-year lease dating from 2018 while Max Spielman has a five-year lease from 2020.
The Rugeley property is just one of 191 lots that are appearing in Bond Wolfe’s next auction, which will start at 8.30am.
