Second chance for investors to bag complex of 30 flats

Second chance for investors to bag complex of 30 flats


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Thirty self-contained flats in Wolverhampton city centre which sold before Christmas for £2.1m are up for sale again in Bond Wolfe’s next auction.

The vacant flats that are arranged in a quadrant of five connected blockswill have a guide price of £1.85m in the livestreamed auction on Thursday February 6.

The new listing for the property comes after a change of circumstances for the purchaser which meant that the sale agreed in December didn’t go ahead.

Gurpreet Bassi, chief executive of Bond Wolfe, explained that freehold property may be suitable for redevelopment, subject to planning permission. He said: “We had a lot of interest in this lot back in December and so are expecting renewed interest now that it’s appearing in the auction again.

“This is a substantial collection of 30 self-contained flats spread across five connected blocks, two reaching four storeys. The property is located within a commercial and residential area in a prominent position on the popular St Georges Parade, in the centre of Wolverhampton. There are ample amenities within walking distance, including the Wulfrun Shopping Centre, and good road, tram and rail transport routes to surrounding districts.”

Each self-contained flat in the blocks include a hall, an open plan living room and kitchen, a bedroom and a shower room with toilet.

Block 1 in the complex has a management office and communications room on the ground floor, along with a laundry room, with Flats 28 and 29 on the first floor, and Flats 30 and 31 on the second floor.

Block 2 has lift access on the ground floor, and then Flats 2 and 3 on the first floor, Flats 4 and 5 on the second floor, and Flat 6 on the third floor.

Block 3 has Flats 7 and 8 on the ground floor, Flats 9 and 10 on the first floor, Flats 11 and 12 on the second floor, and Flats 14 and 15 on the third floor.

Block 4 has Flats 16 and 17 on the ground floor, Flats 18 and 19 on the first floor, and Flats 20 and 21 on the second floor.

Block 5 has Flats 22 and 23 on the ground floor, Flats 24 and 25 on the first floor, Flats 26 and 27 on the second floor.

Outside are communal grounds, a courtyard, bin area and store, and all flats are freehold, with vacant possession upon completion of the sale.

St Georges Parade will be among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday February 6.

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