JLL instructed on sale of Carillion's former HQ

The former Wolverhampton headquarters of Carillion has gone up for sale with a price tag based on offers in excess of £3 million

April 10, 2018

The former Wolverhampton headquarters of Carillion has gone up for sale with a price tag based on offers in excess of £3 million.

JLL and Bulleys have been jointly appointed to market the property at 84 Salop Street, which is currently known as Carillion House.

The detached building is located on a 0.65 acre site next to the Chapel Ash Island in Wolverhampton city centre, next door to the £55 million Westside leisure development.

There is around 37,338 sq ft of office space over six floors, with 32 car parking spaces on site and direct access onto the A4150 dual carriageway. The property comes with a nearby car park with another 58 spaces on Stephenson Street.

The building is offered for freehold sale and is due to be available with vacant possession, although Carillion and its liquidators PwC are currently in occupation, continuing to pay rent of £437,405 pa for both the main and additional site.

Ben Kelly, JLL's capital markets director in Birmingham said: "We are seeking offers in excess of £3,000,000 for the freehold interest, which reflects a low capital value of around £80 per sq ft."

The adjacent £55 million leisure-led Westside scheme encompasses land between Penn Road Island and Salop Street, including the current School Street and Peel Street car parks and the area around Market Square.

Phase one of the development will deliver a multiplex cinema, 50,000 square feet of additional leisure space, new restaurants covering 40,000 square feet, a 100-plus bed hotel and a multi-storey car park.

Construction phase one is expected to be complete by early 2020, and then phase two will deliver more than 300 new city centre homes and 50,000 square feet of retail and leisure space by 2022.