Mixed-use investment producing over £33,000 per year heads to our March auction

A prominent mixed-use investment property in the heart of a Black Country town centre, generating more than £33,000 per year in rental income, is set to appear in our next auction.

The freehold property at 44 Market Place, Willenhall, will carry a guide price* of £300,000+ in the live-streamed auction on Thursday 26 March.

The three-storey corner property comprises two ground-floor retail units and three residential flats, providing a diverse income stream for investors.

Ian Tudor, commercial auction director at Bond Wolfe, said:

“This is an attractive three-storey corner property with two retail units on the ground floor and a separate two-storey building to the rear.

“Willenhall Hardware has traded from this location for approximately 80 years, with the current tenant having been in occupation for the last 25 years.

“The hardware store provides a main retail area with shared toilet facilities, while the neighbouring unit is occupied by Strength In Numbers, a small accountants’ office.

“The residential accommodation is accessed separately and comprises two well-presented flats within the main building, both benefiting from gas central heating.

“To the rear is a further two-storey building which provides a third self-contained flat with a lounge and kitchen on the ground floor, and a bedroom and bathroom on the first floor.”

The property will be sold subject to the existing tenancies, which currently produce a total rental income of £33,600 per annum.

The retail units are let to Willenhall Hardware on a six-year lease until April 2031 at £8,400 per annum, and Strength In Numbers on a five-year lease until April 2030 at £4,200 per annum.

The residential flats are currently let at £6,600 per annum for Flat 1, £7,200 per annum for Flat 2, and £7,200 per annum for Flat 3.

The property occupies a prominent corner position at Market Place with return frontage to Cross Street, placing it at the centre of Willenhall’s main retail area.

Nearby occupiers include Lloyds Bank, the Post Office and a Morrisons supermarket, alongside a mix of independent retailers, cafés, pubs and professional services.

Willenhall lies between Walsall and Wolverhampton, with strong road connections via the A454 Black Country Route, providing access to Junction 10 of the M6 motorway.

The property will be among scores of lots appearing in Bond Wolfe’s next auction, which is due to start at 8.30am on Thursday 26 March.

The auction will be live-streamed via Bond Wolfe’s website, with remote bidding available by proxy, telephone or internet.

For more details and to register to bid visit
https://www.bondwolfe.com/auctions/properties/,
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 details and any additional fees which may apply.