Wolverhampton bar set to tempt investors at auction
The recent resurgence in Wolverhampton’ nightlife is set to make a popular venue a tempting prospect for investors when it goes under the hammer at auction next month.
North Street Social has seen an upsurge in business over recent months in the wake of the long-awaited reopening of Wolverhampton’s Civic and Wulfrun Halls concert venues, just 100 yards away.
Capping its status as a popular spot for Wolves fans, the North Street bar hosted the unofficial afterparty following the inaugural Blur gig at the Civic.
An increase in footfall following the completion of city centre roadworks has also boosted the venue, which also hosts regular events, live gigs and private parties.
The three-storey Victorian building at 7 North Street, is listed for sale at auction as an investment property with a guide price of £250,000 plus.
Ian Tudor, commercial auction director at Bond Wolfe, said the reopening of the concert halls had put property at the heart of Wolverhampton’s vibrant leisure circuit.
“Continuing council investment in the city centre and its offering makes this an excellent prospect for investors, along with its rental income of £35,000 per annum from the tenants operating the North Street Social bar.
“A three-storey red brick corner property, originally constructed in the 1870s, it is currently configured to provide a ground floor open plan trading area with central servery, with a range of fixed seating.
“To the rear is an open-fronted trade kitchen. At first floor level is a further trading area, which has boarded floors and walls, seating booths, stage area, DJ console and its own bar servery.
“Both floors have customer WCs. On the second floor there is a spacious accommodation which has in the past been used as living quarters but is currently used for offices and storage.”
The property lies at the corner junction of North Street and Blossoms Fold in the heart of Wolverhampton city centre.
Lying just off Darlington Street, North Street is adjacent to The Halls, comprising the Civic and Wulfrun venues, the city’s council offices, Magistrates Court and St Peter’s Church and gardens.
The city’s main retail and office core are close by and the university campus and Molineux stadium lies just to the other side of the ring road.
While most recently branded as the North Street Social, the venue was historically known as the Little Civic.
The freehold of the property is for sale, with the sitting tenant’s lease running for 10 years from 16 July 2021 at an initial rent of £35,000 a year. There is provision for a rent review in July 2026 and every five years.
The auction starts at 9am on Thursday 13 July.
