A parade of shops in Wolverhampton city centre is up for auction, includng a pizza restaurant and barber's - guide price here
Ten shops in Wolverhampton city centre are up for sale - here’s when the auction will take place and guide price
A parade of ten shops at Snow Hill in Wolverhampton city centre - including a barber’s beautician and pizza restaurant - are going up for auction
The sale by Bond Wolfe’s will see the ten units at 28A - 36 Snow Hill, Wolverhampton go under the hammer on Thursday, October 23.
The parade of ten shop units is fully let to independent retailers with flats above. They are listed with a guide price* of £575,000+ in the livestreamed auction.
Ian Tudor, commercial auction director at Bond Wolfe, said: “These units provide an excellent investment opportunity and currently generate a rental income of £64,750 per annum.
“This is an attractive parade of ten shops forming part of a larger run of similar properties, fully let to independent occupiers. The upper floors comprise residential apartments which have been sold off on four identical long leases and the freeholder receives a peppercorn rent.
“To the rear is a surfaced car park used by the residential tenants, accessed via Convent Close.“
“Snow Hill is a historic area of Wolverhampton. The parade underwent a refurbishment program some years ago which largely preserved the original character of the buildings.
“Offers in excess of the guide price may be considered prior to the auction.”
The shop units include a barber’s, a unisex hair salon, a beautician, a Thai grocery store, a pizza restaurant and a real estate office.
The upper floors comprise flats which are held by four identical long leases, granted to Bromford Housing Association for a term of 99 years with effect from 29 September 2000, all at a peppercorn ground rent. The residential upper parts also have use of the rear car park.
The property fronts the western side of Snow Hill, just off the A4150 Ring Road St Johns and a short distance south of the main retail core, including the Wulfrun and Mander Shopping Centres.
The Snow Hill property will be among 179 lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday 23 October.
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 https://www.bondwolfe.com/auctions/properties/, email auctions@bondwolfe.com or call or call 0121 312 1212 or 01902 928 510.
