Property investors interested in residential investment
A Birmingham house containing three flats is set to attract the attention of property investors when it comes up for sale at Bond Wolfe’s next auction on Wednesday 9 February.
The property at 1 Abbotsford Road, in Sparkbrook – the busy district at the heart of the city’s famous “Balti Triangle” – is listed as a residential investment with a guide price* starting at £100,000+.
The substantial end terraced property has been converted into three self-contained flats that currently generate annual rental income of £17,820.
Ian Tudor, joint managing director auctions at Bond Wolfe, said: “This kind of property generates strong interest from both large-scale investment companies and property owners building their own buy-to-rent portfolios, so we are predicting highly competitive bidding when it goes under the hammer.
“While the freehold is being sold subject to the three existing tenancies, there is clearly potential for redevelopment on such a large site or it could be converted back into a single dwelling – subject to planning permission.”
The property stands back from the road behind a front garden with off-road parking. It is fitted with a gas-fired central heating system and UPVC double glazing.
The Sparkbrook residential investment property is among 159 lots that will appear in Bond Wolfe’s next auction which starts at 9am on Wednesday 9 February. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.
For more details and to register to bid visit www.bondwolfe.com/property-auctions-west-midlands/, or 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/.