A sizable mixed use investment opportunity in Stourport is going up for auction for more than £475,000.
The attractive town centre site at 5-11 Lombard Street includes three retail units, five self-contained flats and a series of outbuildings with potential for redevelopment, subject to planning permission.
The total site has a current rental income of £56,630 per annum, and is offered with a guide price of £475,000+.
The property is being offered for sale in Bond Wolfe’s October auction.
The auction is for the building itself not the existing businesses at the site.
Ian Tudor, commercial auctions director at Bond Wolfe, said: “This is a property that has been in the current ownership for approximately 90 years.
“It is three storeys to the front, with three retail units on the ground floor, with four self-contained flats on the first and second floors.
“In the rear yard, there is a separate two storey building situated behind the main property, with a self-contained one bedroom flat on the first floor.”
On the ground floor of the rear building and below flat 5b are two vacant store rooms, one of which is understood to have been previously used as a dog grooming salon.
To the side of the two store rooms, there is a separate detached small store/external WC.
Ian Tudor said: “It is considered that the two store rooms and detached small store/external WC may offer some development potential, subject to planning permission.”
The flats and rear of the shops are accessed by a gated passage between numbers 5/7 and 9 Lombard Street.
The whole property is just off the High Street in a busy trading location opposite several on-street car parking spaces.
It is close to Tannery Park which is anchored by B&M together with a 145-space customer car park.
There are other car parks nearby.
It is a well-established trading location, within a busy town centre, where nearby occupiers include Tesco, Lidl, Superdrug, Costa Coffee and Specsavers.
This substantial mixed use investment opportunity is among 176 lots appearing in Bond Wolfe’s next auction, which starts at 8.30am on Thursday (October 22).
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
More information and registration details can be found at bondwolfe.com/auctions/properties or call 0121 312 1212 or 01902 928 510.
