Commercial Investors seeking solid returns
Commercial investment properties are proving increasingly popular as investors seek a safe haven for their capital, according to Bond Wolfe’s auction experts.
Ian Tudor, joint managing director of auctions at Bond Wolfe, said the selection of investment properties going under the hammer at the next auction from 9 am on Thursday 19 May, were good examples.
They include a freehold mid-terrace retail unit in West Bromwich at 197 High Street, which is currently let to Boots Opticians Professional Services Ltd for five years from November 2018 at a current annual rental of £19,000.
The freehold building offers 1,002 sq ft of retail space on the ground floor and a further 581 sq ft of ancillary space and comes with a guide price* of £210,000+.
Over in Smethwick, 580-582 Bearwood Road in Bearwood, is a freehold double fronted retail investment over two floors which is currently let to Bank of Scotland plc, trading as Halifax, for 10 years from November 2012 at a current rent of £32,125 per annum.
The property, which has a ground floor area of 1,973 sq ft with 1,186 sq ft available on the first floor is considered to have development potential, subject to planning permission. It has a guide price of £385,000+.
A freehold three-storey corner building is available at 1 Station Road and 4-6 West Heath Road and comes with an additional three detached, brick-built barns. The property currently accommodates a well established private members’ club, a tattoo parlour, a fish and chip shop, a cake shop, three offices and a one-bedroom flat.
But the building, plus the parking to the rear and the three barns are considered to have redevelopment potential, subject to planning permission, and the lot as a whole has a guide price of £480,000+.
In Worcestershire, Bond Wolfe is offering 1-7 Market Street, Tenbury, a freehold town centre investment property offering three retail units and an office on the ground floor, with the upper floors having six flats which have been sold on a long leasehold, with the owner benefitting from an annual ground rent and service charge. The property has a guide price of £126,000+.
Chaddesley House in Dudley, which comprises 196a, b, c and d, Wolverhampton Street, together with 11a, b and c Parsons Street, is a freehold Grade II listed, mixed-use investment property with secure surfaced car parking, currently producing annual rental of £46,140. This attractive investment property has a guide price of £480,000+.
These commercial investment properties are among 161 lots that will appear in Bond Wolfe’s next auction which starts at 9 am on Thursday 19 May. The auction will be live-streamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit www.bondwolfe.com/property-auctions-west-midlands/, email [email protected], or call 0121 312 1212 or 01902 928 510.
Anyone with properties to sell in a future auction can arrange a free appraisal by calling the auction team or visiting www.bondwolfe.com/free-property-appraisal/.