A HISTORIC town centre property with redevelopment potential is set to attract investors when it goes under the hammer.

Currently used as three-storey retail premises, 1 Alcester Street is listed with a guide price of £195,000 in Bond Wolfe’s upcoming auction later this month.

The retail premises already has permission to convert its second and third floors into an apartment and has the potential for further development, subject to planning permission.

James Rossiter, senior auction valuer at Bond Wolfe, explained that 1 Alcester Street dates from the late 18th century and is part of the town centre’s Church Green Conservation Area.

Redditch Advertiser:

Mr Rossiter said: “These are prominent mid-terraced retail premises, currently comprising three individual units with two on the ground floor and one over the first and second floors.

“The property also has the benefit of rear access via Wellington Street.

“The property has had planning approval for the change of use of the first and second floors to be converted into a two-bedroomed, self-contained apartment.

“The property may also be suitable for further development subject to obtaining the necessary consents.”

Redditch Advertiser:

1 Alcester Street has previously been used as a charity shop for Primrose Hospice.

Its ground floor includes a large retail area, a rear store area, office and toilet.

The next-door unit, known as The Kiosk, has a ground-floor retail area, kitchen area, toilet and rear access.

Unit 3 has a ground-floor entrance and stairs to a first-floor reception area, retail area and toilet.

There is a landing and two further retail areas on the second floor.

Redditch Advertiser:

The property, which offers vacant possession, has gas-fired central heating on the first and second floors, roller shutters for The Kiosk, plus rear access providing parking and for deliveries.

The Redditch property is appearing in Bond Wolfe’s next auction which will start at 9am on Thursday, October 26.