Wolverhampton block of flats goes back up for sale after 'change of circumstances'

The block of 30 flats at St George's Parade in Wolverhampton were originally expected to fetch in excess of £1.8 million after attracting strong interest ahead of a property auction due to be held in December last year, but sold before the auction started for £2,100,000, according to property agents Bond Wolfe.

However the prominent city centre residential block is now back up for sale after a change of circumstances for the purchaser which meant that the sale agreed in December didn’t go ahead.

The vacant flats, a quadrant of five connected blocks at 9 St. Georges Parade, will have a guide price of £1.85 million when they go back up for auction next month.

The building's communal grounds were also included in the auction lot, including a courtyard, bin area and store.

Gurpreet Bassi, chief executive of Bond Wolfe, said the property may be suitable for redevelopment, subject to planning permission.

"We had a lot of interest in this lot back in December and so are expecting renewed interest now that it’s appearing in the auction again," he said.

“This is a substantial collection of 30 self-contained flats spread across five connected blocks, two reaching four storeys.

“The property is located within a commercial and residential area in a prominent position on the popular St Georges Parade, in the centre of Wolverhampton.

“There are ample amenities within walking distance, including the Wulfrun Shopping Centre, and good road, tram and rail transport routes to surrounding districts.”

St Georges Parade will be among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday, February 6.