Bond Wolfe seeing increasing demand for commercial and mixed use property lots at auction.

Bond Wolfe seeing increasing demand for commercial and mixed use property lots at auction.

Strong demand for commercial property across the West Midlands is driving competitive bidding at auction, according to Bond Wolfe’s Managing Director.

Ian Tudor said Bond Wolfe’s next auction on Wednesday 21 July would see a number of commercial and mixed use investments going under the hammer.

They include a freehold mixed use town centre property in Brierley Hill, including Flats 1-11 Kingston House, Moor Street, and 91-95 High Street, with a guide price* of £690,000+.

Mr Tudor said: “This is a prominent three storey, corner building providing three retail units and 11 recently converted, well presented, self-contained apartments.

“They include three 2 bedroom and eight 1 bedroom apartments, and the lot as a whole has a potential full rental income of £78, 738 per annum.”

With restrictions on the hospitality sector lifting on 19 July, there is sure to be strong demand for Blossoms at 7 North Street, Wolverhampton, a freehold city centre bar, club and live music venue, which has a guide price of £325,000+.

Unit 2, The Courtyard, Roman Way, Coleshill, which is offered in conjunction with agents Darby Kaye, is a freehold, detached, two storey office building offered with a guide price of £230,000+.

After a programme of repair and restoration, the fine Grade II listed Georgian farmhouse known as Lickhill Manor at Lower Lickhill Road, Stourport-on-Severn, could be converted back into an imposing private home, or conversion to apartments or hospitality or leisure uses, subject to planning permission.

The spacious former country house, with origins dating back to the 17th century, stands in its own grounds and most recently has been used as a care home. It has a guide price of £455,000+.

Over in Wolverhampton, Oaklands Social and Bowling Club in Lea Road is a former bowling club, and a social club that is currently trading as a licensed bar and selling hot food. The 0.77 acre site is considered suitable for redevelopment, subject to planning permission, sitting in a well-established and densely developed residential area. It has a guide price of £150,000+.

A fully refurbished office building at 76 Church Road in Aston, Birmingham, is offered with a guide price of £675,000+. The building offers 7,400 sq ft of offices and stores and has secure parking and could be put to a number of uses, including religious, community, hospitality or educational, subject to planning permission.

In Worcester, 48-50 Astwood Road, is a mixed use investment, offering a ground floor retail unit with a recently refurbished house of multiple occupation above. The property has further development potential to the rear, subject to planning permission, and has an estimated full rental value of £38,500 per annum, offered with a guide price of £325,000+.

Over in Evesham, 34 Port Street is a freehold mixed use investment opportunity on a prominent town centre site with a self-contained shop on the ground floor and a house of multiple occupation with five bedrooms over the first and second floor and a self-contained one bedroom coach house to the rear. It has a guide price of £360,000+.

The former Duke of York pub at 27-28 Victoria Street, in Burton-on-Trent, is offered with planning permission for nine self-contained apartments.

Six of the apartments can be by way of conversion of the existing property with a first floor rear extension and a further three new build apartments within a detached building in the grounds to the rear. An alternative consented scheme permits for retention of part of the former public house as a micro bar and development of the remainder to eight self-contained apartments. It has a guide price of £210,000+.

Also offered in the sale are over £1 million worth of commercial ground rent lots on behalf of Birmingham City Council. The ground rents on five freehold commercial units have guide prices* from £125,000 up to £250,000, and will be the first five lots of the day.

These commercial and mixed use lots are just a few of the 248 lots listed in Bond Wolfe’s next auction which starts at 8.30am on Wednesday 21 July.

The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only, and bidders must pre-register no later than 12 noon on Tuesday 20 July.

More details are at www.bondwolfe.com/property-auctions-west-midlands/, or email [email protected], or call 0121 312 1212 or 01902 928 510.