EIGHT retail units and 15 flats will go up for auction in Kidderminster town centre later this month.

Carlton House, which features eight retail units and the 15 apartments above, is being sold through Bond Wolfe Auctions with a guide price of £1.35 million.

Auctioneers say there has already been a lot of interest in the property and its other commercial lots.

Ian Tudor, Bond Wolfe’s managing director, said: “Not only are we witnessing an increase in the number of commercial lots coming to the auction market, with more vendors committed to move certain assets on and an increasing numbers of enthusiastic buyers entering the market, we are starting to witness some sales well in excess of expectations.

“We are already receiving healthy interest in the lots on offer in our forthcoming October auction, and providing advice to potential vendors for our December sale.”

The apartments at Carlton House comprise a mixture of studio, one-bedroom and two-bedroom accommodation, which has recently been refurbished. The development is currently 91 per cent occupied, producing a rental income of £149,280.

Commercial tenants include Prestige Tanning House, Toner Estates and Happy Staffie Rescue.

Ian said: “During these uncertain times, post lockdown, never has the certainty of a sale by auction been more attractive. Once the hammer falls, the contract is binding, contracts are exchanged immediately and prices cannot be renegotiated.

“This is proving particularly popular with vendors of commercial property who require the comfort of a guaranteed sale in order to plan and shape future business decisions, and this is leading to an increased number of commercial lots on offer by auction.

“In addition, the recent changes in planning use classes are boosting buyers’ confidence as they now have various options available to them, for example to convert retail premises into cafes and restaurants without the need for planning permission, which in a post-Covid world, provides good long term alternative options.”

Carlton House has frontages onto Oxford Street, Marlborough Street and Worcester Street.

The auction will be live-streamed on the Bond Wolfe website on Wednesday, October 28 at 9am, with remote bidding by proxy, telephone or internet. Interested buyers must pre-register to bid no later than noon on Tuesday, October 27.