I don't know, but my characters were quite a bit below level 11 when they did Verbobonc - maybe level 8 or so? I'm not exactly sure. They escorted a couple of merchant prisoners there, and supposedly both guys had a shop. But I never found them again. And, in fact, I was quite surprised to see that Verbobonc was only a couple of blocks long, with hardly anything in it. I assume that it was not in the original game? Or did I miss something? (I certainly ended up with a ton of money from it! It seemed a bit unbalanced, in fact, it was so much.)
Level 11 characters should breeze through Verbo. Maybe one or two fights that will make you break a sweat, but nothing you shouldn't handle easily if you have a decent party and play it fairly smart.