Victorian shopping arcade with £4.2 million price tag in Bond Wolfe’s next auction

Walsall’s Grade II-listed Victorian shopping arcade is coming up for sale in Bond Wolfe’s next auction, with bids set to start at more than £4 million.

The landmark Victorian Arcade, in Bradford Street, will have a guide price* of £4.2 million+ in the livestreamed auction on Thursday 14 December.

Ian Tudor, commercial auction director at Bond Wolfe Auctions, said: “This is a remarkable opportunity to secure a historic retail and residential investment that currently generates rental income of £624,602 per annum.

“If proposals are successful to convert one of the arcade units into a HMO – house of multiple occupation – a further £157,000 per annum in rent could be generated.

“The property is an attractive Victorian arcade with both retail and residential space, conveniently located on the pedestrianised retail pitch between Walsall’s two principal shopping centres.

“The property extends to approximately 35,725 sq ft across the 38 retail units and 14 newly created residential units.

“The Victorian Arcade offers the opportunity to add significant value through short term asset management and the potential for further residential space on the upper levels, subject to any appropriate planning permission.”

An attractive and high-yielding listed town centre freehold investment, the Arcade sits in the pedestrianised area between The Sadler’s and Old Square shopping centres within the heart of Walsall town centre with a new retail and leisure development, The Quarter, being located immediately opposite the Lower Hall Lane entrance.

The property is bordered on three sides on Bradford Street, Digbeth and Lower Hall Lane, each providing access into the Arcade.

The Arcade benefits from significantly high footfalls due to is close proximity to the town’s bus station, taxi ranks, numerous car parks and a new 44,000 sq ft Primark store opposite.

The completion period for this property is ten weeks.

Walsall’s Victorian Arcade is among 156 lots appearing in Bond Wolfe’s next auction, which will start at 9am on Thursday 14 December.

If you have a property you are considering selling, visit https://www.bondwolfe.com/free-property-appraisal/ email auctions@bondwolfe.com or call 0121 312 1212 or 01902 928 510 for advice or to arrange a free no obligation valuation.

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* 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.

For further information, please contact:

Suzanne Randell, Operations Director,

Bond Wolfe, 1st Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 312 1212, SRandell@Bondwolfe.com

www.bondwolfe.com

Twitter – @BondWolfe

Editors’ notes:

Bond Wolfe, which celebrates 40 years in 2023, has a record breaking and award-winning team with over 500 years of combined property experience. Bond Wolfe is the only auctioneers in the region to have dedicated experts dealing with residential, commercial and mixed-use properties, plus land and development sites. The multi-disciplined property business specialises in property auctions and property agency. They sell all types of property for private individuals and corporate clients. They will hold seven auctions in 2023, the final one scheduled for 14 December, as well as offering online auctions, selling properties nationally across the UK.