Mixed-use parade of shops in South Staffordshire village generating £50,000 rent a year up for auction
A parade of shops with self-contained flats above and garages at the rear in a large village in South Staffordshire village is set to go under the hammer in Bond Wolfe’s next auction.
The property at 48 to 49 High Street in Kinver, South Staffordshire, is among the 207 lots set to feature in the next livestreamed auction, on Thursday September 11, with a guide price of £550,000.
Ian Tudor, commercial auction director at Bond Wolfe, said: “This is a small, two-storey parade that includes four retail units, three self-contained flats above and a garage block at the rear.
“The accommodation is well presented both internally and externally, with a current total rental income of £49,480 per annum, and it has further asset management potential.
“The property occupies a highly prominent position fronting the eastern side of the High Street at the heart of the attractive village of Kinver.
“There is more mixed-use development nearby and a recently resurfaced public car park at the rear of the property.”
The shop tenants include Royal British Legion, RUA Salon, Mary Stevens Hospice Charity Shop and Wombourne Funeral Services.
The flats, which are self-contained and accessed from the rear, comprise a lobby, living room/kitchen, bedroom and bathroom.
The block of nine garages at the rear includes five rented at £300 each, generating total garage rents of £1,500 per annum, while the others are included with the shops.
Bond Wolfe has been appointed to sell the properties, with the AMT Commercial as joint agents.
The auction will be livestreamed on the Bond Wolfe website, starting at 8.30am on Thursday September 11.
