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Investors’ demand for strong returns reflected in Bond Wolfe’s October auction commercial lots

A strong selection of retail premises from across the Midlands, many already producing respectable rental income, will be attracting investors to Bond Wolfe’s upcoming October auction.

Bidders from across the UK – and overseas – will be logging on to the live-streamed sale event on Wednesday 20 October tempted by the lure of strong returns.

A modern retail unit on the edge of what will become Wolverhampton’s £55 million leisure-led Westside city centre mixed-use development is among a string of attractive lots, alongside traditional high street retail units in Bloxwich, Stoke-on-Trent and Wednesbury, as well as a pair of units in the bustling Birmingham suburb of Bearwood.

The ground floor shop premises at 574 Bearwood Road, Bearwood , is listed with a guide price* of £170,000+ for a long – 999 years – leasehold in a popular shopping district, currently generating income of £20,000 per annum. The 1,647 sq ft unit is currently a hot food takeaway and diner, trading as Rios Piri, on a 10 year lease from February this year.

A short distance away, another commercial investment is the ground floor unit at 590 Bearwood Road, listed at £125,000+ for a long leasehold. Currently fitted out as a modern convenience store, trading as MoJam, this 797 sq ft unit is generating £15,000 per annum in rent. Bearwood is a sought-after and well established suburb on the borders with Harborne and is seen as an excellent catchment area for trade, with a good mix of local and national retailers.

Mixed-use units are always a popular investment, and 6-8 Cape Hill, in Smethwick, comprises two shop units with a spacious vacant flat above in a popular shopping district, opposite the Windmills retail park. The freehold is coming up for auction with a guide price of £325,000+ with both retail units occupied, by a barber shop and a hair salon, generating £11,924 per annum in rent. The flat is laid out with a lounge, kitchen dining area, bathroom, three double bedrooms and a further attic room. It is in need of modernisation but could be converted into two separate flats, subject to planning permission.

In Staffordshire, a two-storey freehold shop unit, at 39 Queen Street, Burslem, Stoke-on-Trent, is listed at £65,000+ with potential for a variety of alternative uses, subject to planning consents.

Another property with potential for a variety of uses is the 2,718 sq ft Unit 3 at Market Plaza, Market Square, in Wolverhampton city centre. Currently a ground floor shop unit providing a rental income of £19,800 per annum and with 133 years of its long leasehold remaining, it is listed with a guide price of £100,000+. Sitting below a large modern residential apartment block, it is in a good position on one side of what will eventually become the promised Westside mixed-used development, which will include a cinema and forms part of a wider city centre regeneration programme.

Away from retail, the 20 October auction will feature commercial properties such as Unit 3 in Cleveland Street, Dudley. Listed with a guide price of £300,000+ this deceptively spacious three storey brick building includes a basement and secure parking for ten cars. Currently used as a dance school, with two main studios with wood covered floors, it could be suitable for a variety of alternative uses given the necessary planning permissions. A short distance west of Dudley town centre, it sits in a prominent commercial and industrial area.

Across the Midlands, Compton Lodge is a former licensed club premises at 128 Sapcote Road, Stoney Stanton, Leicester, and has the potential, subject to planning permission, to be redeveloped for residential use. It has a guide price of £225,000+. Ian Tudor, joint managing director auctions, said: “These are just a selection of the mixed, retail and commercial opportunities we will be offering among a total of 188 lots at our auction next week.”

Our next auction starts at 9am on Wednesday 20 October. The auction will be live-streamed via our website with remote bidding by proxy, telephone or internet only. For more details and to register to bid visit click here, or email auctions@bondwolfe.com, or call 0121 312 1212 or 01902 928 510.

Anyone with properties to sell in a future auction can arrange a free appraisal by calling the auction team or clicking here.

* 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.

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