Shops with royal addresses in Wolverhampton for sale in next Bond Wolfe auction

Attractive retail investment properties with royal addresses in Wolverhampton city centre are appearing at Bond Wolfe’s next auction on Wednesday 14 December.

One lot is at 10-11 Queen Street, currently let to a leading charity for £26,000 per annum, which comes with a guide price* of £250,000+.

The other lot includes two adjoining retail units with upper floors at 26-26a King Street, currently let to a cosmetic clinic and a gift shop for rents totalling £22,750 per annum, with a guide price of £150,000+.

Ian Tudor, joint managing director – auctions at Bond Wolfe, explained that the Queen Street property was an attractive, four-storey terraced building in a parade of similar properties that hosted a well-established British Heart Foundation charity shop.

Mr Tudor said: “The property extends to 2,880 sq ft and has a main retail space over the ground floor, with three upper floors providing storage and ancillary accommodation.

“This occupies a prime position fronting the pedestrianised Queen Street within the heart of Wolverhampton city centre.

“The property is freehold subject to a lease to the British Heart Foundation which expires on 24 October 2027, at a rental figure of £26,000 per annum.”

He added that the British Heart Foundation was a strong tenant with 730 shops across the UK, the country’s largest network of charity shops.

Mr Tudor explained that the other lot was located nearby at 26-26a King Street and was considered to have development potential, subject to the appropriate planning permission.

26 King Street is occupied by Eterno Clinics, providing skin and laser treatments, whilst 26a is occupied by Pennyfarthing, a giftware and jewellery shop.

He said: “The units within the lot each extend to 1,500 sq ft and stand within a well-established shopping parade fronting the pedestrianised King Street.

“The properties are freehold, subject to tenancies, which at 26 King Street involve a letting to Bourne Enterprises Ltd on a 10-year lease ending in January 2024 at £10,000 per annum.

“Then 26a King Street is let to MLH Ltd, a long-term tenant who is currently holding over, for £12,750 per annum.”

Mr Tudor said that both lots were close to the Mander and Wulfrun shopping centres, the Grand Theatre, Crown Court, Wolverhampton College, plus the coach and railway stations.

He added: “There is an excellent mix of local and national retailers, bars, restaurants and coffee shops within the immediate vicinity.”

Wolverhampton itself lies approximately 17 miles north-west of Birmingham, with excellent access to the national motorway network via junction 10 of the M6 motorway.

The commercial properties in Wolverhampton are among scores of properties due to appear in Bond Wolfe’s next auction which is due to start at 9am on Wednesday 14 December.

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.