Purpose-built bistro in Wolverhampton goes under the hammer for £250,000
The former Banks Bistro in Chapel Ash, Wolverhampton, is going under the hammer at Bond Wolfe Auctions’ next auction sale in December, just three months after shutting down.
A guide price* of £250,000 has been put on the property, at 40C Bath Road, which comes up for sale at the BWA auction at Villa Park on Wednesday, December 11.
It is being sold fully equipped with all fixtures and fittings, from its fully equipped kitchen to the tables, chairs and cutlery.
The detached building was purpose built as a restaurant or bistro and can serve up to 60 customers at a time.
Ian Tudor, managing director of Bond Wolfe Auctions, said: “This is an attractive property just a short distance from Wolverhampton city centre with a number of prominent businesses nearby – not least the Banks’s Brewery and the landmark headquarters of its owner, Marstons.
“This part of the city has seen some substantial renovation work in recent years and is already home to a number of well-known pubs and restaurants, as well as the annual Junction Festival every summer.
“It is an excellent catchment area for potential trade for a continuation of the property’s former use as a restaurant/bistro, and we expect highly competitive bidding given the low guide price we have set.
“I think there is every likelihood that people will be dining at this restaurant again within the very near future. It is a ready platform for an imaginative team with an eye on the future.
“Just a short walk away is the Westside area of the city centre, which is about to be the subject of a £55 million redevelopment creating a leisure quarter with a multi-screen cinema. The prospects for leisure and entertainment businesses in and around the city centre are sky high once Westside is under way.”
The property provides a ground floor restaurant area of around 20 covers with a bar, fully equipped commercial kitchen and a WC for the disabled. The main restaurant area, with approximately 40 covers, is on the first floor with another bar area and male and female WCs.
The former bistro 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.