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Robert Irving Burns

Freehold Investment – 71-78 Victoria Street, Wolverhampton

POA

Details

  • Ref: 186481
  • Type: Retail
  • Availability: Available

Description

The subject property comprises the former Beatties department store, previously trading over three floors. The property has four active frontages and was constructed between the 1920's and the 1950's with an 'Art Deco' style façade overlooking the Mander shopping centre. The substantial property extends to 176,636 sq. ft (34,991 sq. m) GIA of former retail, leisure and ancillary space. The car park, housing 390 parking spaces, is also home to the 'Gorgeous Nightclub' on the part Ground floor, whcih can be accessed via Skinner Street.

Location
Located within the City Centre, the site benefits from its proximity to amenities, shops and transport infrastructure. the Mander Shopping Centre is located opposite on Victoria Street, including major national occupiers such as Boots, Deichmann, Footasylum, JD Sports, New Look, Primark, Sony, Sports Direct, and Superdrug.

The Wolverhampton metropolitan area is home to 265,000 people, encompassing the boroughs of Dudley, Sandwell, and Walsall. Benefitting from strong road connections, served by access to the M6, M6 toll, M5, and M54, providing access to Birmingham 18 miles to the North-West and London 124 miles to the South.

the City Centre is well populated by bus routes, providing regular and accessible services. In addition to Wolverhampton's mainline train station accommodating regular services to London, Birmingham, and Manchester.

Features

  • Opportunity to invest in prominent City Centre landmark location.
  • Renowned site of the former Beatties department store.
  • Located in Wolverhampton Town Centre, inside the A4150 ring road.
  • Extending to 376,636 sq. ft (34,991 sq. m).
  • Two significant planning approvals for conversion and construction of 400+ residential units.
  • West Midlands Combined Authority (WMCA) have produced a letter of intent providing levelling up / gap funding.
  • Site preliminaries already initiated at a cost of c. £4,000,000.
  • Part ground floor of car park let to Gorgeous Nightclub (with ability to relocate them within the scheme).
  • Three additional buildings and yard included in the Freehold Title, excluded from the approved planning consents offering further significant development potential, STPP.
  • Zero affordable & no S106 agreements.
  • Freehold, held on four seperate Titles.

Materials

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