Walsall’s shopping arcade in auction for £4.2m
Walsall’s Victorian shopping arcade, a grade II-listed landmark in Bradford Street is up for sale in Bond Wolfe’s upcoming auction.
The auction is scheduled for Thursday, December 14th, with the guide price for the arcade set at £4.2m or more.
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 an 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.”