'Investment opportunity': Village row of shops with flats has guide price of £800k
A freehold, mixed-use investment opportunity in a village near Wolverhampton is appearing in Bond Wolfe’s livestreamed auction this month.
The row of five shops with flats above at 9-17 Station Road, Codsall, will have a guide price of more than £800,000 in the auction on Thursday, September 14.
Ian Tudor, commercial auction director of Bond Wolfe, said: “The property currently generates £90,400 per annum in rental income.
“The property is situated within a busy village centre and forms one of two retail parades either side of Station Road and a Co-op food store within the centre of Codsall.
“The popularity of this attractive village adds to the attractiveness of this investment opportunity and we expect it to attract bidders from across the UK and overseas when it goes under the hammer.”
The parade of shops and self-contained flats also includes a block of lock-up garages and a large shared yard. The property stands behind a service road with parking bays.
There are flats above units 11-17, each comprising two bedrooms, a bathroom, kitchen and living area. Unit 9 comprises first floor storage and office space connected to the ground floor accommodation.
Units are occupied by Siculo, a new Sicilian restaurant, on a 10-year lease from November 2022, The Ace of Vapez on a nine-year lease from February 2012, News Express newsagents on a 10-year term until January 2026, butchers Allan Bennett on a 10-year lease from October 2013 and Sculpted Microblading beauty salon.
Mr Tudor added: “Station Road is the main village thoroughfare and is bordered by retail development and other commercial uses. Residential properties predominately occupy the surrounding area."
The Codsall property is just one of 180 lots that are appearing in Bond Wolfe’s auction, which will start at 9am.
