A former bistro in Wolverhampton is set to go under the hammer as part of Bond Wolfe Auctions’ next sale on December 11th.
Located at 40C Bath Road in Chapel Ash, the former Banks Bistro has a guide price of just £2500,000.
Ian Tudor, Managing Director of Bond Wolfe Auctions, said: “This is an attractive property just a short distance from Wolverhampton city centre with a number of prominent businesses nearby. […] This part of the city has seen some substantial renovation work in recent years and is already home to a number of well-known pubs and restaurants, as well as the annual Junction Festival every summer.
“It is an excellent catchment area for a continuation of the property’s former use as a restaurant/bistro, and we expect highly competitive bidding given the low guide price we have set.”
Despite the competitively priced guide price, the auction of the former bistro will also include all fixtures and fittings, as well as a fully equipped kitchen complete with chairs and cutlery. As such, it is a ready-made property that can be turned into a new business with [a] very short turnover.
The detached building can serve up to 60 customers at a time and provides a ground floor restaurant areas of approximately 20 covers, with the remaining 40 covers on the first floor.
Commenting on the potential for a fast-turnaround for a restauranter, Ian adds: “I think there is every likelihood that people will be dining at this restaurant again within the very near future. It is a ready platform for an imaginative team with an eye on the future.
“Just a short walk away is the Westside area of the city centre, which is about to be the subject of a £55 million redevelopment creating a leisure quarter with a multi-screen cinema. The prospects for leisure and entertainment businesses in and around the city centre are sky high once Westside is underway.”
The former bistro is just one of 164 lots that will be offered as part of the December 11th auction, for more information, please refer to the Bond Wolfe website.