Landmark Wolverhampton city centre River Island premises now on sale for £2 million+
The Wolverhampton city centre store premises of River Island have been put on the market through commercial property agency Bond Wolfe.
With a price tag in excess of £2 million, the purpose-built store on a corner site at 25-26 Dudley Street is described as having 'a unique exterior with floor-to-ceiling glass frontages and a distinctive glassed tower'.
It is currently let to the clothing fashion chain and generates £150,000 per annum in passing rent.
The sale is freehold subject to the existing tenancy. River Island has a renewed two-year lease until March 24, 2025.
James Mattin, managing director of Bond Wolfe, said: “This is a prominent retail property, just opposite the entrance to the city’s popular Wulfrun Centre, with a strong retailer as tenant.
“That makes it a prime freehold retail investment and we anticipate considerable interest from institutional and private investors. We are looking for offers in excess of £2 million.”
The building extends to around 9,419 sq ft.
It has been fitted out internally by River Island to the company’s usual corporate style and is predominantly open-plan with ancillary areas. The accommodation extends over the ground floor, basement and first floors.
The ground floor sales area extends to 3,409 sq ft, the basement office and stock area is 2,650 sq ft and the first floor sales area covers 3,359 sq ft.
Mr Mattin added: “Wolverhampton has a population of approximately 260,000 and is one of the top 10 growing economies in the UK – making this an excellent investment opportunity."
Further details are available from James Mattin on 0121 524 1172 or via email at jmattin@bondwolfe.com.
