Globe House in Bradford Place may be converted into studio apartments if a proposal to Walsall Council by its owners goes ahead.
The Grade II listed, three-storey building was formerly the Institute of Science & Art and was built in 1888 before it was bought by Globe Properties Ltd in 2004.
In more recent years, it’s been used as a serviced office space by Walsall Council and private companies.
30 Studio Apartments Planned For Globe House
With occupancy levels reported to be as low as 30 per cent, Globe Properties Ltd are now looking to transform the property into more than 30 studio apartments.
Agents J Mason Associates said: “Globe Property Ltd purchased the building in 2004 and sought to bring it back into use as a business centre and work carried out with Walsall Regeneration suggested a potential demand for office accommodation in the town centre.
“The Business Centre originally operated with reasonable success, achieving occupancy rates of circa 70 per cent, but with the financial downturn in 2008 the centre began to struggle and in the period since then the building has only achieved occupancy rates of around 30-40 per cent and a significant portion of that has been Globe Property itself.
“The building has been marketed for use as a whole building or by individual floors and individual rooms, but none of these options has produced a viable way of taking the building forward in its current use.
“Globe Property are looking to downsize their own occupancy and consequently a new use for the building is required.
“Research shows a surplus of office accommodation available in Walsall Town Centre and the space currently available in Globe House remains on the market but with no interest.
“Alternative uses have therefore been considered for the property including retail use, but this was not considered a practical solution for this building and again there is a surplus of retail accommodation vacant within the town including in the Victorian Arcade.
“Other uses considered include a Nursery, Night Club, Hospice and GP Surgery but all have proved unviable.
“The proposal is therefore for the conversion of the building into 35 studios and apartments for residential use.
“Residential use provides the building with a viable use moving forward.
“The town centre can accommodate residential use and this is the only route that has been identified that is capable of generating the significant funds needed to protect the heritage asset.”
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