Walsall retail opportunity among properties up for auction
A prominent retail and office investment opportunity in a Black Country town centre is coming up for sale in Bond Wolfe’s next auction.
The three-storey, mid-terraced property with a large basement is at 57-63 Bridge Street in Walsall will have a guide price of £300,000 plus in the livestreamed event on Thursday, October 24.
Ian Tudor, commercial auction director at Bond Wolfe, said the lot included a large parcel of land to the rear that was considered suitable for future development, subject to planning permission.
Mr Tudor said: “This imposing building already has a rental income of £29,100 per annum from Connells Estate Agency, and our estimated full rental value is up to £45,000.
“The property is believed to date from the mid-1920s, with a third floor added during the 1950s.
“The main building has two ground floor retail units fronting Bridge Street, and a rear office, with a further range of offices with toilets and stores on the first and second floors.
“At the rear is an approximately rectangular level plot and a two-storey rear building, which is considered to have development potential subject to planning permission.”
The property is in a prominent position fronting the northern side of Bridge Street between its junction with Lichfield Street and Lower Rushall Street, with access to drive in at the rear.
The property will be among 184 lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email auctions@bondwolfe.com or call 0121 312 1212.
