Island Works is star investment opportunity at Bond Wolfe Auctions’ December sale
A substantial Birmingham industrial investment opportunity valued at close to £1 million will go under the hammer at Bond Wolfe Auctions’ next sale on Wednesday 9 December.
Island Works is a freehold industrial/office investment at 122 Holyhead Road in the north west of Birmingham on a site of approximately 0.68 acres which is let to a long term established tenant, producing rental income of £75,000 per annum.
Ian Tudor, managing director of Bond Wolfe Auctions, said: “Island Works is typical of the kind of commercial investment opportunity that in the past would almost certainly been offered on the open market through the usual commercial property agent channels.
“But now, with interest rates still at historic low levels, investors are looking for opportunities for their money and there is significantly more competition for properties that offer prospects of a strong return, and certainly one that leaves current bank rates well behind!
“That’s why we are seeing more and more industrial and commercial investment opportunities appearing at auction, and why Bond Wolfe Auctions is building a national reputation as a high profile platform for sellers and investors.”
Island Works is a substantial two storey office building fronting Holyhead Road, with a frontage of some 150 feet to the main A41 and backing on to the A4040 Island Road with rear goods access.
The property is being offered freehold in the auction, subject to the existing tenancy and is let in its entirety to a print and industrial graphics manufacturer on ten year term expiring in July 2028.
It is offered with a guide price* of £900,000.
Bond Wolfe Auctions is launching stand-alone commercial auctions in the Spring of 2021 and Mr Tudor said this was exactly the kind of lot they would be featuring.
There is a strong national appetite among investors for commercial and industrial property which is why we are seeing increasing interest from buyers in London and the south east, seeking value in regional opportunities,” he said.
Bond Wolfe Auctions’ next online auction will be livestreamed via the website at www.bondwolfe.com from 9am on Wednesday 9 December 2020, with remote bidding by proxy, telephone and internet only.
Anyone interested in the auctions or with properties for sale in future auctions should contact [email protected] or call 0121 312 1212.