Cornerways, 1 Hagley Road West, Birmingham, B17 8AL

Freehold residential development opportunity

Property details

Type Land/Development
Tenure Freehold
Price Offers based on £1,350,000
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  • Prominent corner position in sought after location.
  • Full planning permission for 8 x 2 bedroom apartments in addition to the existing block of 4, maisonettes
  • 5,896 sq. ft. (548 sq. m) of proposed new build development.
  • Existing maisonettes currently producing £50,400 per annum.
  • Freehold - £1,350,000

The site currently comprises a two storey building of 4 x 2 bedroom maisonettes. There is a stand alone garage block, which would be demolished under implementation of the approved planning permission. Set back from the main Hagley Road West, there is land to the side of the existing block which allows for development of a three story block of 8 new build 2 bedroom apartments with associated car parking. The existing maisonettes are currently let producing £50,400 per annum

The site is located at the junction of Hagley Road West and Lordswood Road on the South Western periphery of Birmingham, affording a prime and prominent position, approximately 4 miles west of Birmingham City Centre and 1 mile north of the centre of Harborne. The site occupies the corner plot of a significant junction along Hagley Road West and the surrounding area predominantly comprises of detached dwellings situated on generous plots of land. An area of open parkland separates the site from a denser arrangement of terraced housing to the North. Hagley Road is a principal arterial route leading from Birmingham City Centre and to the M5 motorway, which is 3 miles to the west of the site. ROAD The A456 Hagley Road is one of Birmingham’s main arterial routes. It is within easy reach of the region’s motorway network with a direct link to junction 3 of the M5 and Spaghetti Junction, leading to junction 6 of the M6. RAIL The nearby Five Ways station is just one stop from New Street, which offers frequent services to London and all major UK cities. BUS Numerous bus routes can be accessed from Hagley Road and Five Ways Island, connecting to Birmingham and surrounding areas. METRO The upcoming extension to the Midland Metro will provide a high quality, speedy link to Birmingham’s clean air zone.
Offers in the region of £1,350,000 are sought for the Freehold interest.
On 18 August 2022, under application number 2020/06685/PA, permission was granted for the demolition of existing garages, refurbishment of 4 existing maisonettes and erection of 8 two-bedroom apartments with associated car parking. A link to all supporting documentation is available from Bond Wolfe upon request . Other schemes may be deemed suitable , subject to obtaining the necessary planning consent(s).
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Available upon request.
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.
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In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.