Black Country mixed-use investment with development potential heads to our September auction

A substantial Victorian mixed-use investment property in the heart of Smethwick, already generating more than £17,000 per annum, is set to feature in our next auction on Thursday 10 September.

The freehold property at 33-35 and 33A Cape Hill will be offered with a guide price* of £175,000+ and combines two income-producing retail units with two vacant upper floors offering significant asset management potential.

The prominent three-storey corner property dates back to the 19th century and currently generates a total rental income of £17,400 per annum from its two ground floor commercial occupiers.

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

“This is a substantial and prominent mixed-use investment occupying an excellent corner position in the heart of Smethwick’s busy retail area.

“The two ground floor commercial units are already producing £17,400 per annum, providing an established income from day one.

“Above these are two substantial vacant floors which require full refurbishment but offer considerable asset management potential.

“Subject to obtaining the necessary planning permissions, the upper floors may be suitable for a range of alternative uses, including residential conversion, providing an opportunity to increase the overall rental income and add further value to the property.”

The Acupuncture & Herbal Medicine Clinic occupies the 766 sq ft unit at 33 Cape Hill on a nine-year lease expiring in March 2032.

The current rent is £11,700 per annum, rising to £13,800 per annum from March 2029.

Lia Hair & Beauty occupies the 338 sq ft unit at 35 Cape Hill on a nine-year lease expiring in June 2032, producing £5,700 per annum.

The vacant accommodation at 33A Cape Hill extends to approximately 1,011 sq ft on the first floor and a further 869 sq ft on the second floor.

Ian Tudor added:

“The combination of existing rental income and substantial vacant accommodation makes this an interesting proposition for investors looking for an asset where they can actively enhance value over time.”

The property occupies a prominent position fronting the A4092 Cape Hill at its junction with Windmill Lane, Shireland Road and Waterloo Road.

Cape Hill is an established commercial and retail location with a diverse mix of independent businesses, national operators, banks, pubs, restaurants and takeaways.

Windmills Retail Park is also nearby, with occupiers including JD Sports, Asda, Costa Coffee, PureGym, Home Bargains and Matalan.

Smethwick is located within the Metropolitan Borough of Sandwell, approximately four miles west of Birmingham city centre, providing convenient access to Birmingham and the wider Black Country.

The property 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.

*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.