Successful Birmingham wedding venue at auction for £1.5m+

A popular wedding venue and banqueting suite in Birmingham will appear in Bond Wolfe Auctions’ next auction at Villa Park on Tuesday 10 September.

The Mayfair Suite at Park House in Park Lane, Handsworth, has a current gross income of £212,640 a year, which would represent a healthy yield of 14 per cent based on its auction guide price* of £1.5 million+.

The large detached premises are subdivided to include a showroom, industrial units and two flats as well as the wedding and banqueting suites, together with parking spaces for around 70 cars.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “The Mayfair Suite has an enviable reputation up and down the country as one of the best wedding venues, and it’s particularly popular with Asian families seeking a place for large functions.

“The other space included in the lot makes it ideal for a buyer who wants to also develop other profitable uses for manufacturing, storage and residential rentals, subject to planning permission.”

The mixed-use investment opportunity lies in a prominent position on the western side of Park Avenue just off the main A41 Holyhead Road, with excellent access to the Midlands motorway network via junction 1 of the M5 which it around half a mile away.

The Mayfair Suite wedding venue is just one of the 140 lots going under the hammer in Bond Wolfe Auctions’ next auction on Tuesday 10 September at 10.30am at the regular venue of the Holte Suite at Aston Villa FC.

Bond Wolfe Auctions has already offered 350 lots this year, more than any other auctioneer in Birmingham. This includes properties across the East and West Midlands and as far afield as Wales and Scotland.

The first three auctions have raised nearly £39 million in sales – more than double its nearest competitor in the same period.

Anyone interested in the auction or with properties for sale in future auctions should contact [email protected] or call 0121 312 1212.