Commercial highlights going under the hammer in Bond Wolfe’s February auction

Increasing demand for solid revenue producing assets is driving strong interest in the wide range of commercial highlights featured in Bond Wolfe’s next auction on Thursday 9 February.

They include properties from retail to restaurants, and from mixed use commercial investments to redevelopment opportunities.

A good example is 27-29 Poplar Road, Kings Heath, Birmingham, an attractive freehold restaurant investment with two flats above. The Kutum Bari, a licensed Bangladeshi Indian restaurant, and flat 29a, are let to a private individual, at an annual rental of £27,600 for a 15 year term from June 2017. Flat 27a is rented out on a shorthold assured tenancy for £5,100 per annum, with the property having a guide price* of £385,000+.

Another restaurant opportunity is 21 Carlisle Street, Dresden, in Stoke-on-Trent, which is a well presented vacant, freehold property with an attractive guide price of £145,000+.

The former Beacon public house on Ironbridge Road, Telford, is a vacant, freehold, Grade II listed property on a site of approximately 0.49 acres.

Ian Tudor, joint managing director auctions at Bond Wolfe, said: “This is an interesting site in Madeley, close to the world-renowned Ironbridge Gorge, which may have potential for alternative uses or development, subject to planning permission.”

The freehold property comprises a partly three storey and partly single storey building understood to date originally from the 18^th century. It has a guide price of £200,000+.

In Dudley, 1 Southalls Lane, is a freehold, mixed use property offering a mid-terraced corner property with the ground floor occupied by a hairdressers until recently, and with a two bedroom duplex apartment on the upper floors, listed with a guide price of £75,000+.

Also in Dudley is a property fully let to Papa Johns (GB) Ltd, the pizza restaurant and takeaway chain. 57 Salop Street is a former public house and now has the benefit of planning permission to convert the first floor to a spacious, self-contained, two bedroom flat, and there is further development potential to the rear, subject to planning permission.

The property has a current rental income of £15,000 per annum and potential future rental income of approximately £35,000 per annum. It has a guide price of £200,000+.

Down the road in Cradley Heath, 165-173 Halesowen Road, Old Hill, is a freehold two storey investment/redevelopment opportunity. It consists of a detached block with five self-contained retail units on the ground floor and a former club premises on the first floor.

To the rear and side of the building there is gated and fenced land. Two of the retail units are currently occupied, while the remaining three and the first floor are empty.

Ian Tudor said: “There is the potential to create a fully let investment or undertake redevelopment, subject to planning permission.”

The property has a guide price of £275,000+.

In Walsall, Unit 1 Bridge House, 47-55 Bridge Street, is a substantial, fully fitted sports bar and restaurant extending to 7,300 sq ft in total. It has a guide price of £275,000+.

Also in Walsall are two freehold retail investment opportunities, consisting of Unit 2-3 George Street, with a guide price of £180,000, and Unit 9 George Street which has a guide price of £75,000+. Unit 2-3 is let to Simply Beds for five years from June 2021 on an annual rental of £20,000, and Unit 9 is let to Frances Fontain Hairdressers for three years from July 2021, at a current rent of £9,000 per annum.

A freehold, mixed use property at 36-38 Hutton Road, Handsworth, in Birmingham, includes a lock-up shop with five residential flats above, currently producing total annual rental of £36,000 with scope to improve when fully let. It is offered with a guide price of £290,000+.

In West Bromwich, 10 & 10a Jowetts Lane is offered jointly with agents Brackenridge Hanson Tate. It is a vacant, freehold retail unit with a self-contained residential investment above, and is offered with a guide price of £175,000+.

Over in Nuneaton, two retail investment opportunities in the same street are offered. 1a Queens Road is let to My Fone World Ltd from March 2015 on a 15 year term with a current rental of £28,000 with five yearly rent reviews. The property has a guide price of £295,000+.

3 Queens Road is let to Waterstones Booksellers Ltd for three years from December 2022 at an annual rent of £30,000, and is also offered with a guide price of £295,000+.

All these commercial opportunities will be among scores of properties appearing in Bond Wolfe’s next auction which is due to start at 9am on Thursday 9 February.

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

For more details and to register to bid visit www.bondwolfe.com/property-auctions-west-midlands/ or email [email protected], or call 0121 312 1212 or 01902 928 510.