Wolverhampton city centre retail properties with redevelopment potential head to our October auction

Two substantial vacant retail premises with upper floors in the heart of Wolverhampton city centre are set to feature in our next auction on Thursday 22 October.

The freehold properties at 1-2 and 3 Worcester Street are being sold on behalf of City of Wolverhampton Council and will be offered with a guide price* of £114,000+.

Occupying a prominent position at the junction of Cleveland Street and Worcester Street, the properties provide extensive commercial accommodation across three floors, together with potential for refurbishment, alternative uses or redevelopment, subject to obtaining the necessary planning permissions.

Gurpreet Bassi, Chief Executive at Bond Wolfe, said:

“We are delighted to be offering these substantial city centre premises on behalf of City of Wolverhampton Council.

“The properties occupy a prominent position in an established commercial and retail location and offer considerable potential for investors, developers and owner-occupiers.

“Although the accommodation requires refurbishment, there is an opportunity to bring the buildings back into productive use, potentially for a variety of commercial purposes.

“The upper floors may also lend themselves to residential conversion or other alternative uses, subject to obtaining the necessary planning consents.”

The properties comprise two substantial retail units with accommodation extending across the ground, first and second floors.

The ground floor includes retail accommodation previously used as office space, together with five additional rooms and a kitchen.

Further ancillary accommodation and offices are situated across the first and second floors.

The buildings benefit from gas-fired central heating and double glazing, although refurbishment works are required throughout.

Gurpreet Bassi added:

“Wolverhampton city centre continues to offer opportunities for investors looking to acquire well-located commercial properties with potential to add value.

“With a guide price of £114,000+, these premises represent an interesting opportunity for purchasers prepared to undertake refurbishment works and explore the possibilities available.”

The properties occupy a prominent position on Worcester Street, close to its junction with Cleveland Street, within an established commercial and retail area of Wolverhampton city centre.

The surrounding streets accommodate a broad mix of national and independent retailers, restaurants, takeaways, leisure businesses and service operators, helping to generate regular pedestrian activity.

Wolverhampton’s principal shopping and civic amenities are within easy reach, while the city’s railway and bus stations provide convenient public transport connections across the West Midlands and beyond.

The properties are among approximately 170 lots due to appear in our next auction, which starts at 8.30am on Thursday 22 October.

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

For more information, visit 1-2 and 3 Worcester Street, Wolverhampton.

To register to bid, visit our auction properties page, email auctions@bondwolfe.com or call 0121 312 1212.

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.