Historic retail premises with development potential in Worcestershire town centre up for auction
A set of late Georgian retail premises with redevelopment potential in a Worcestershire town centre will attract investors to our next auction later this month.
The property in Redditch already has permission to convert its second and third floors into an apartment and has the potential for further development, subject to planning permission.
Currently used as three-storey retail premises, 1 Alcester Street is listed with a guide price of £195,000+ in our livestreamed auction on Thursday 26 October.
James Rossiter, our Senior Auction Valuer, explained that 1 Alcester Street dates from the late 18th century and is part of the town centre’s Church Green Conservation Area.
Mr Rossiter said: “These are prominent mid-terraced retail premises, currently comprising three individual units with two on the ground floor and one over the first and second floors.
“The property also has the benefit of rear access via Wellington Street.
“The property has had planning approval for the change of use of the first and second floors to be converted into a two-bedroomed, self-contained apartment.
“The property may also be suitable for further development subject to obtaining the necessary consents.”
He added: “The property holds a prominent position on Alcester Street within a parade of late Georgian, Victorian and Edwardian properties within Redditch town centre and is surrounded by retail, leisure and professional businesses.
“Its redevelopment potential and position in an attractive part of the town centre make this a very desirable property and we expect highly competitive bidding when it comes up for auction.”
1 Alcester Street has previously been used as a charity shop for Primrose Hospice.
Its ground floor includes a large retail area, a rear store area, office and toilet with a net internal area of 1,075 sq ft.
The next-door unit, known as The Kiosk, has a ground floor retail area, kitchen area, toilet and rear access and extends to 459 sq ft.
Unit 3 has a ground floor entrance and stairs to a first-floor reception area, retail area and toilet.
There is a landing and two further retail areas on the second floor totalling 567 sq ft, with a total floor area of 2,101 sq ft for the whole building.
The property, which offers vacant possession, has gas-fired central heating on the first and second floors, roller shutters for The Kiosk, plus rear access providing parking and for deliveries.
The Redditch property is just one among scores of lots that are appearing in our next auction, which will start at 9am on Thursday 26 October.
If you have a property you are considering selling, visit https://www.bondwolfe.com/free-property-appraisal/ email [email protected] or call 0121 312 1212 or 01902 928 510 for advice or to arrange a free no obligation valuation.
* Each property is subject to a reserve price which may be different from the guide price. Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.