Dudley mixed-use investment opportunity heads to our September auction

A vacant mixed-use property combining a substantial retail unit with two recently refurbished flats is set to feature in our next auction on Thursday 10 September.

The freehold property at 159 Wolverhampton Street, Dudley, will be offered with a guide price* of £190,000+ and provides investors with the opportunity to generate income from both its commercial and residential accommodation.

Offers in excess of the guide price may also be considered prior to the auction.

Ian Tudor, Commercial Auction Director at Bond Wolfe, said:

“Mixed-use properties continue to prove particularly popular with auction buyers, and this is an excellent opportunity combining substantial commercial accommodation with two recently refurbished residential flats.

“The property is currently vacant throughout, giving the successful purchaser the flexibility to secure new tenants and potentially generate income from three separate elements.

“It may also be suitable for a variety of alternative uses, subject to obtaining the necessary planning permissions.”

The three-storey, mid-terraced property has been extended at ground floor level and provides approximately 1,646 sq ft of retail or showroom accommodation, together with ancillary storage.

Previously used for furniture sales, the ground floor offers flexible space suitable for a variety of retail and commercial uses, subject to planning permission.

The two self-contained flats are accessed independently from the front of the property and have both been recently refurbished.

Flat 1, on the first floor, comprises two bedrooms, a bathroom, lounge and kitchen, while Flat 2 occupies the second floor and provides a similar two-bedroom layout. Both flats benefit from central heating.

Ian Tudor added:

“The property offers excellent investment potential, and we estimate that the full rental value could be in the region of £28,000 per annum once the retail accommodation and both flats are fully let.

“With a guide price of £190,000+, this is likely to appeal to investors looking for a property with the potential to establish a strong rental income.”

The property occupies a prominent position fronting the B4176 Wolverhampton Street, opposite its junction with Charlton Street and just a short distance from Dudley town centre.

It forms part of an established parade within an area containing a mix of retail, commercial and residential uses, providing a strong immediate catchment for potential occupiers.

There is also a range of local pay-and-display car parking within easy reach.

159 Wolverhampton Street will be among the lots appearing in our next auction, which starts at 8.30am on Thursday 10 September.

The auction will be live-streamed via our website, with remote bidding available by proxy, telephone or internet.

For more details and to register to bid visit our auction properties page, email auctions@bondwolfe.com or call 0121 312 1212 or 01902 928 510.

*Each property is subject to a reserve price which may differ from the guide price. Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.