Walsall's former BHS department store 'could become homes' after going up for auction for £1.2 million

Midlands auctioneers Bond Wolfe say the property has been put up for sale by the building's current owners, and will go under the hammer in September, expecting to fetch over £1m.

And the auctioneers say the first floor of the property could be well set for residential conversion, with the potential for a roof terrace or garden for would-be residents.

The sale is the latest development in the near decade-long dilemma of Walsall's former British Home Stores building, which closed in August 2016 after the retail giant run by Phillip Green collapsed.

The store was one of 114 to close as the chain went under, with 36 members of staff in Walsall joining around 11,000 other retail workers who found themselves seeking new employment following the chain's demise.

The building was sold for £750,000 in 2018 to an undisclosed private investor, and is currently let to Retail Multiples (Walsall) until 2029.

The 36,000 sq ft building at 71-75 Park Street is now largely empty, although part of the ground floor is currently let to multiple small traders on flexible licence agreements, producing rental income of approximately £168,000 a year.

Those traders will be allowed to stay, according to the auctioneers, with the rest of the building available for vacant posession to the new buyer.

"There are large void areas towards the rear of the building which provide further potential retail space and the opportunity to create an additional entrance off Gallery Square," said a spokesperson for Bond Wolfe.

However the first floor is currently stripped out and open-plan, and auctioneers say the premises is considered suitable for a variety of uses, "including residential" - with the potential to create roof terraces or gardens, or an additional floor.

Those changes would be subject to the buyer securing planning permission from Walsall Council.

"This is a unique opportunity to acquire a highly versatile, spacious landmark town centre property," said Ian Tudor, commercial auction director at Bond Wolfe.

“It offers excellent asset management and development potential.

“Future uses may include department store, supermarket, discount store, showroom, leisure and entertainment, food court, offices, call centre, educational, training, religious and residential, all subject to any necessary planning permissions.”

The premises has six dedicated car parking spaces, and the additional rear parking is available for purchase at a nominal figure.

The entire site will go under the hammer in Bond Wolfe’s next auction on Thursday, September 11, which starts at 8.30am.