Brierley Hill banqueting suite goes under the hammer for £295,000
A former banqueting suite in Brierley Hill could provide a wealth of opportunities for one successful bidder when it comes up for sale at Bond Wolf Auctions’ next auction at Villa Park in Birmingham on Wednesday, December 11.
The property, which also includes five apartments, is listed in the auction with a guide price* of £295,000, with the potential for complete residential or commercial redevelopment.
The former banqueting suite, at 1 Mill Street, was originally a pub and was also used as an Indian restaurant at one point.
It has stood empty for more than three years but is now available through Bond Wolfe Auctions.
Ian Tudor, managing director of Bond Wolfe Auctions, said: “The premises comprise both a fully equipped banqueting venue and five apartments – three of which are occupied on tenancies worth in excess of £16,000 a year.
“It is in the middle of a busy area, in the heart of Brierley Hill, offering good prospects for a leisure or entertainment venue. At the same time, subject to planning permission, the property could be demolished and redeveloped completely for either residential or commercial use.
“We are expecting considerable interest, given the flexibility and potential of this property, and bidding is certain to be fierce given such a low guide price.”
The three-storey property, opposite the Moor Shopping centre in Brierley Hill town centre, currently comprises the 2,731 sq ft former banqueting site, with its kitchen and male and female WCs, occupying the ground floor.
The two upper floors contain three one-bedroom flats and two two-bedroom flats, totalling 3,804 sq ft of living accommodation. There is also a basement and staff car parking at the rear.
The sale would involve vacant possession of the ground floor and the currently unoccupied flats 2 and 4. The three other flats are currently let on Assured Shorthold Tenancies for between £450 and £510 per calendar month.
The former banqueting suite is just one of 164 lots that will be offered on 11 December at what will be the largest property auction to be held in the Midlands in 2019.
Bond Wolfe Auctions, which launched in January this year, has so far sold 503 lots out of 592 offered and raised over £66.2 million with an average success rate of 85% – comfortably making it the West Midlands’ leading auctioneer.