A Wolverhampton office building is on the market to investors keen to maximise on its potential to provide 100 apartments in the city centre.
Telecom House, a self-contained office building on Church Street, was formerly occupied by British Telecom, and Harris Lamb’s Agency team has been instructed to sell the building by owners Telereal Trillium.
The 84,876 sq ft property, which has a guide price of £2,950,000, already has plans submitted for 100 apartments under permitted development rights.
Tom Morley, Director, said that the opportunity was the largest office disposal within the city in years.
“This property has a massive amount of potential. It fronts the Ring Road St Johns in Wolverhampton City Centre, placing it within easy walking distance of the centre’s leisure and retail offering, and with immediate access to all major routes.
“ The six-story building, which is serviced by three lifts, is suited to a number of uses and a change to residential use is allowed under permitted development rights – an application has already been submitted for 47 one-bedroom and 53 two-bed apartments.
“With the Wolverhampton University campus being just half a mile away, there is also potential to convert the building to student accommodation,” he said.
The property also has 70 car parking spaces.
Tom added: “Since placing the property on the market just a matter of days ago, we’ve had a huge amount of interest from developers keen to take advantage of such a rare opportunity. Based on early enquiry levels, we anticipate that the property will be snapped up by investors or developers within a relatively short space of time.”
Interested parties should contact Tom at Thomas.email@example.com 0121 455 9455.