Niphon Works, 43-68 Lower Villiers Street

Wolverhampton, WV2 4NA

0.36 Acres

Iconic Niphon Works Apartment Building and Residential Development For Sale in Wolverhampton

Summary

Sale on behalf of the Administrators of United Developments Homes Limited & Niphon Limited
Iconic Niphon Works residential development scheme in Wolverhampton
Scheme fronts Lower Villiers Street, less than a mile from Wolverhampton City Centre
Full planning consent for 49 apartments - 17 have been constructed with 32 further dwellings due to be built
13 units have been let and produce £96,480 per annum
Extensive asset management and value-add opportunities for funds, JV partnerships and developers seeking a high return on investment
Price on Application

Location

Niphon Works is located in the City of Wolverhampton and within close distance of local transport and amenities.
Fronting Lower Villiers Street which links to the inner ring road, circling Wolverhampton City Centre, via the A459. This provides access to the A4150 Ring Road St John's, which links to all main arterial routes in and out of the City Centre, including the M54 and M6 Motorways.

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Mainline Stations

Wolverhampton

20 mins
Coseley

52 mins
Tipton

78 mins
Bilbrook

81 mins

Underground Station

Chesham

1700 mins
Amersham

1731 mins
Chalfont and Latimer

1764 mins
Reading

1766 mins

Further Information

Description

The iconic Niphon Works building is situated in Lower Villiers Street and was originally built in 1885.
The front of the building comprises of 17 converted residential dwellings which currently generate an income of circa £96,480 per annum.
The apartments are situated over the available floors, with shared entrances and separate boilers for each apartment.
The total site area (taken from Edozo) extends to approximately 0.36 acres (0.146 hectares).

Planning

A planning application (City of Wolverhampton Council, Planning Ref: 17/00493/FUL) was submitted in 2017 for the "Conversion of former factory to form 49 residential units (including part demolition and reconstruction)".
The application was granted and works had begun shortly thereafter in which 17 apartments were converted. 13 of the flats are currently confirmed as let and producing an annual income of circa £96,480.
Interested parties are advised to make their own enquiries with the local planning authority in respect of their own proposed use of the property.