A venue in Birmingham specialising in hosting Asian weddings is one of the lots to go under the hammer at Bond Wolfe Auctions’ September sale.
The Mayfair Suite at Park House in Park Lane, Handsworth (pictured), includes full ablution and prayer room facilities and includes separate entrances to fully segregate men and women.
The banqueting suite, which can accommodate up to 650 guests, forms part of a mixed-use investment opportunity located half a mile from the M5 and which also includes a showroom, industrial units and two flats, as well as parking spaces for around 70 cars.
It has a current gross income of £212,640 a year, which would represent a yield of 14% based on its auction guide price of £1.5m.
“The Mayfair Suite has an enviable reputation up and down the country as one of the best wedding venues, and it’s particularly popular with Asian families seeking a place for large functions,” said Gurpreet Bassi, chief executive of Bond Wolfe Auctions.
“The other space included in the lot makes it ideal for a buyer who also wants to develop other profitable uses for manufacturing, storage and residential rentals, subject to planning permission.”
Bond Wolfe Auctions’ next sale will take place on 10 September at the Holte Suite, Aston Villa FC.
