Landmark retail investment with £730,000 price tag at Bond Wolfe auction
RETAIL INVESTMENT: A string of shops in a landmark building in Walsall town centre is coming up for sale with a guide price* of £730,000+ at Bond Wolfe’s next auction, on Wednesday 9 February.
The four retail units, including a branch of Ladbrokes, are on the ground floor of the four storey Tudor House property in Bridge Street.
The quartet of units are fully let and currently generate £80,000 per annum in rental income. Above them are three floors of residential accommodation that have been sold off separately on a long lease.
James Mattin, joint managing director agency at Bond Wolfe, said: “We’re delighted to offer this retail investment opportunity in a prime town centre location. This is an attractive and distinctive property, in mock Tudor style, with 5,556sq ft of retail space across the four units.
“They are clearly attractive to retail operators. Tudor House is fully let and Ladbrokes has recently extended its lease.
“We are expecting this property to draw strong interest from bidders at our next auction, on 9 February.”
The property sits on the southern side of Bridge Street, between The Bridge and within 80 metres of Park Street, the prime retail pitch in Walsall. Adjacent is the major town centre redevelopment site at the Old Square Shopping Centre, which is planned to incorporate a Co-op supermarket and Primark.
Walsall is one of the largest centres within the West Midlands conurbation and benefits from excellent communications being some two miles from both junctions 9 and 10 of the M6 motorway.
Walsall has a strong retail offer centred upon the pedestrianised Park Street which links the Crown Wharf Shopping Park to the north, the Saddlers Shopping Centre in the centre of Park Street and Old Square Shopping Centre to the south.
Crown Wharf is a large unit retail scheme anchored by Asda Living, with retailers including Next, TK Maxx, Top Shop/Top Man and J D Sports.
The Tudor House retail units are among 159 lots that will appear in Bond Wolfe’s next auction which starts at 9am on Wednesday 9 February. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.