Historic Wolverhampton building Niphon Works is sold
The historic Niphon Works building in Wolverhampton has been bought out of receivership.
An unnamed developer has acquired the site at 43-68 Lower Villiers Street which was originally built in 1885 and was once Wolverhampton's biggest factory, employing more than 300 people.
Property agencies Towler Shaw Roberts and Sanderson Weatherall were jointly instructed to bring the Niphon Works building to the market in summer 2024.
Planning permission was granted in 2017 for the conversion of the former factory, located less than a mile from Wolverhampton city centre, into 49 residential apartments.
The front of the building now includes 17 homes, with planning consent in place for the development of a further 32 apartments.
Martin Zaki, head of agency in Wolverhampton for Towler Shaw Roberts, said: "The Niphon Works is a beautiful building and it's pleasing that a sale has now been finalised to enable the conversion of the property to be resumed.
"This is an iconic Wolverhampton property that generated a considerable amount of interest.
"We obtained a sale price that was agreeable to the receivers for the development of the Niphon Works building to now be completed."
