Post-lockdown optimism fuels interest in Bond Wolfe Auctions’ commercial lots
Commercial property features strongly in Bond Wolfe Auctions’ next online live-streamed sale on Wednesday 19 May.
The record breaking catalogue of 236 lots means that the auction will once again start at 8.30am to accommodate the fast growing interest in Bond Wolfe Auctions’ properties across the UK.
Ian Tudor, managing director of Bond Wolfe Auctions, said: “We are seeing growing interest in commercial lots from across the UK and further afield. Indeed, we recently sold a commercial property for £1 million to a Hong Kong investor.
“With Step 3 out of the national lockdown due a couple of days before our May auction there certainly is a growing air of excitement that normality is returning and with it increased optimism among our buyers to invest in commercial opportunities, of all lot sizes.”
One of the most striking lots is a prominent freehold retail investment in Gloucester at 10 Northgate Street. The ground floor of the attractive four storey building is let to 02 producing a current rental income of £37,650 per annum.
The upper three floors could be considered suitable for conversion to residential development, subject to planning permission. The property, which totals 5,069 sq ft, will go under the hammer with a guide price* of £350,000+, representing a gross yield of 10.75%.
In Leeds, a freehold town centre bank investment at 91 Queen Street, Morley, is let to Santander plc for a current annual rental of £33,500. The property in a busy shopping street has a guide price of £335,000+.
The Barrel (pictured) is a freehold, mixed use, town centre investment property in Bromsgrove Street, Kidderminster. Formerly a pub, it has been extended and modernised to provide an investment of flats, restaurant, and storage units in the middle of Kidderminster close to the proposed major redevelopment of Lion Fields.
It has a current gross rental income of £77,052 with the potential to increase to £100,000 per annum when fully let. The restaurant is let, ten of the 12 apartments are let, and two of the nine storage units. It has a guide price of £850,000+.
On the popular Alcester Road South in Kings Heath in Birmingham, Charter House is a freehold office premises with a guide price of £290,000+. The two storey property with car parking is currently used by a solicitors’ firm but is considered suitable for a variety of alternative uses including day nursery, educational, medical or community, subject to planning permission.
In Smethwick, a former theatre and snooker hall at 377-379 Bearwood Road is offered with a guide price of £475,000+. It was constructed in the 1920s as a cinema and has undergone numerous changes including use as an ice rink, snooker hall and live music venue with bars and function rooms, but recently it has fallen into disrepair.
The property is locally listed and may be considered for a range of leisure uses or a mixed use development, subject to planning permission.
The Walter de Cantelupe Inn on Main Road, Kempsey, Worcester, is an attractive freehold property suitable to continue as a pub, or for conversion for residential purposes, subject to planning permission. It has a guide price of £350,000+.
Fully refurbished office space totalling around 7,400 sq ft is available at 76 Church Road, Aston in Birmingham. The property also has stores and excellent secure car parking and could prove popular with a national operator looking for a central location as the property is just one mile from the M6. It has a guide price of £675,000+.
Similar facilities are offered in detached, well presented freehold offices at 22 The Courtyard, Gorsey Lane, Coleshill, where the 2,044 sq ft also enjoys excellent motorway links, close to the M6 and M42, linking to the M40 and M5. The two storey premises has a guide price of £225,000+.
In Rugeley, Staffordshire, a major retail/investment/development opportunity is available at the 4-16 Brook Square, which has a guide price of £475,000+.
At 4 Buffery Road, Dudley, a mixed commercial and residential investment is offered with a guide price of £175,000+.
Substantial office premises totalling 2,891 sq ft in a three storey building is available with a guide price of £175,000+ at 94-96 The Strand in Stoke-on-Trent.
A freehold, two storey, commercial unit most recently used as a dance studio at Unit 2, Cleveland Street, Dudley, measuring about 1,810 sq ft, is considered suitable for a variety of uses, subject to planning permission and has a guide price of £95,000+.
All these in a record catalogue featuring 236 lots are available in Bond Wolfe Auctions next auction on Wednesday 19 May. The auction will be livestreamed from 8.30am via the website at www.bondwolfeauctions.com, with remote bidding by proxy, telephone and internet only.
* Each property is subject to a reserve price which may be different from the guide price. Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.