Apartment plan could boost value of Kidderminster retail unit for sale at auction
Residential redevelopment could transform the value of a commercial property in Kidderminster that is due to go under the hammer in Bond Wolfe’s May auction.
Marlborough House, in Worcester Street, Kidderminster, is due to go under the hammer at Bond Wolfe’s livestreamed auction on Thursday May 15.
The property comprises a ground floor retail unit and offices on the first floor.
Residential conversion of those offices could be the key to unlocking the value of the property, said James Mattin, managing director and auctioneer at Bond Wolfe.
The freehold investment property is listed with a guide price of £165,000+ and is being sold in conjunction with joint agents GJS Dillon.
Mr Mattin said: “These premises currently generate a rental income of £10,500 per annum, with the ground floor occupied by a long-standing business – promotional giftware company Driving Sales.
“But the vacant first floor, currently comprising three offices with a kitchen and staff WCs, has the potential for residential conversion if the necessary planning permission can be secured.
“Indicative plans have already been drawn up for conversion of the first floor to a large two-bedroom self-contained apartment.
“A successful redevelopment of that first floor could add massive value for the successful buyer.”
The property occupies a prominent corner location at the junction of Worcester Street and Marlborough Street in Kidderminster town centre.
It is close to the entrance to Rowland Hill Shopping Centre with other nearby occupiers being Vibe, Teaching Music Academy, Max Spielmann, Santander and Poundland.
The first floor extends to 913 sq ft. The ground floor measures 1,684 sq ft, comprising a sales floor and ancillary areas including staff WCs and kitchen facilities to the rear.
It is being sold freehold subject to the existing tenancy. Driving Sales currently has a six-year lease due to expire February 25 2026 with passing rent of £10,500 per annum.
The vacant first floor currently has an estimated rental value of £10,000 per annum.
Marlborough House will be among the lots featured in Bond Wolfe’s livestreamed next auction, which starts at 8.30am on Thursday May 15.
Properties are subject to a reserve price which may be different to the guide price.
The sale will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email auctions@bondwolfe.com or call 0121 312 1212 or 01902 928510.
