Birmingham City Council set to cash in disused properties in Bond Wolfe February auction
Birmingham City Council has instructed Bond Wolfe, as their retained auctioneers to put 29 disused council-owned properties, investments, land and ground rents under the hammer in our next livestreamed auction on Thursday 8 February, starting at the earlier time of 8.30am.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “There are a range of opportunities here for entrepreneurs and seasoned investors to bring these properties back to life and into day-to-day use again.
“Similarly, the investment and ground rent lots can provide a steady income for investors looking for a bit of stability in what is still an uncertain economic outlook.
“We are anticipating high demand, both for the lots offered by Birmingham City Council, and also a wide range of residential, commercial, retail, mixed use and land and investment opportunities.”
The Birmingham City Council lots for sale include the former Sandcastle Day Nursery , on Chester Road, Erdington, which is offered freehold with a guide price* of £650,000+. The property is a post 1970s, single storey purpose-built school building on a site of circa 0.64 acres. It may be suitable for redevelopment, subject to planning permission.
A similar potential redevelopment project, subject to planning permission, is the former Four Dwellings Children’s Centre in Quinton, which has fire damage and is in need of renovation. The freehold purpose-built children’s centre currently has 17 parking spaces and has a guide price of £300,000+.
A detached commercial investment opportunity in Moseley is certain to prove popular as well. The freehold property at 455 Yardley Wood Road, Moseley, currently operates as a day nursery, and is subject to a 25 years lease from 2017 on a passing rental of £18,000 per annum, with five yearly reviews.
The substantial property sits on a site of approximately 23,885 sq ft and has a guide price of £180,000+.
Another potential development opportunity is the gated former depot site at Latelow Road, Garretts Green, which measures approximately 0.92 acres, and may suitable for a variety of uses, subject to planning permission. It has a guide price of £175,000+.
Birmingham City Council has also instructed Bond Wolfe to sell 25 ground rents on a range of commercial, industrial and retail properties across the city, including ten in New John Street West.
Gurpreet Bassi added: “In addition to our regular catalogue of hundreds of lots, the Birmingham City Council lots will add interest to what is building up to be a highly successful first auction of the year.
“We want to build on our successes of 2023 and in 2024 cement our place as the UK’s leading livestreaming auction business, selling properties throughout the UK.”
Anyone with a property they are considering selling should visit https://www.bondwolfe.com/free-property-appraisal/, email [email protected] or call 0121 312 1212 or 01902 928 510 for advice or to arrange a free, no obligation valuation.