Shopping village in Black Country on sale for £3.265 million with Bond Wolfe
An entire shopping centre in Walsall with space for potential development is being marketed by commercial property agents Bond Wolfe for a combined asking price of £3.265 million.
The Gillity Shopping Village is set on 1.76 acres on Liskeard Road and currently includes 13 separate retail units and 15 duplex residential units.
James Mattin, our Managing Director, said that the shops and homes were already producing annual rents of £256,260 with the potential for a significant uplift.
And he explained that the property also provided development potential to extend the existing building above and utilise the large main car park and 15 garages to build an additional residential block, subject to planning permission.
Mr Mattin said: “We are delighted to bring Gillity Shopping Village to the market and will be offering the properties for sale on an individual basis.
“We believe this will appeal to the private investor market from which we have seen so much activity throughout 2023.
“That said, our client is also happy to entertain offers for parts or the scheme as a whole and we invite enquiries from all interested parties.
“The Gillity Shopping Village benefits from being anchored by a Co-op convenience store and this means the resulting footfall has attracted multiple other traders.
“Existing businesses include a dry cleaners, a cafe, a restaurant, a funeral directors, a beauty salon and other retail units, and together this create a thriving little centre.
“But on top of this there is a future development potential in spare spaces currently occupied by the car park and garages, subject to planning permission.”
The marketing of the Gillity Shopping Village follows our recent successes with other ‘break up’ sales at Leamington Sa, Kings Heath, Walsall town centre and in Acocks Green.
Gillity Shopping Village is around three miles to the south-east of Walsall town centre and is strategically located to serve the surrounding densely populated residential area.
The centre sits adjacent to the King Arthur public house and can be accessed from both Liskeard Road and Treyamon Road.
Walsall is located approximately 10 miles north of Birmingham city centre and eight miles east of Wolverhampton.
Walsall benefits from excellent road links and is only a short drive away from M5 and M6 motorway junctions.