West Bromwich office building could be converted to flats

PROPERTY agent Bond Wolfe has been instructed to sell a large mixed-use retail and office building in the centre of West Bromwich.

Parham House, which occupies 404-430 High Street, has the potential to be converted to a residential scheme.

James Mattin, managing director, Bond Wolfe said the building was already attracting strong interest despite only just coming on to the market.
 
The building sits on an 0.8 acre site and comprises three retail units together with 30,444 sq ft of office space over the ground and four upper floors.
 
Two of the retail units are empty while the third, trading as a convenience store, is let until May 2021 at a rent of £26,000 per annum. The rest of the complex is vacant.
 
Mr Mattin said: “This is a big opportunity for someone.
 
“The property benefits from permitted development rights for change of use to residential. And there is further potential for redevelopment or change of use subject to planning permission.
 
“Office to residential is increasingly attractive now the Government has made it a much easier process. Equally, it might well be retained for offices, particularly as it comes with 76 car parking spaces to the rear and side.”
 
Parham House, within the town centre’s regeneration area, occupies a prominent position on the west side of High Street close to its junction with Guns Lane. Another factor which could be attractive to residential developers is its location opposite a recently refurbished Lidl supermarket.

Dunitz & Co is acting as joint agent on the property.