Solid returns from commercial assets are attractive in Bond Wolfe’s March auction

Bond Wolfe is hoping to raise over £1.75 million with the sale of six commercial assets on behalf of Birmingham City Council in its upcoming auction on Wednesday 30 March.

The six lots will lead off the auction which starts at 9 am, and they follow on from the successful sale of a number of similar lots in recent auctions by Bond Wolfe.

First to go under the hammer will be the freehold commercial ground rent secured on two-storey premises at 128 Hockley Hill, Birmingham

The property has a 75-year lease from June 1975 at a ground rent of £6,500, with rent reviews every 15 years. There is an outstanding rent review from June 2020. The lot has a guide price* of  £250,000+.

Following on is  292 Upper Balsall Heath Road, Birmingham, which has a 99-year lease from August 1981 at a ground rent of £13,000 per annum with rent reviews every seven years – guide price, £425,000+.

124 Emily Street, Birmingham, has a 99-year lease from July 1981 at a ground rent of £10,000 per annum subject to rent reviews every seven-year – guide price, £325,000+.

The premises at Auckland Road and Krywicks Lane, Birmingham, has a 99-year lease from July 1986 with a ground rent of £12,250 per annum with rent reviews every seven years – guide price £425,000+.

Radnor House, Radnor Street, Birmingham, has a 99-year lease from September 1978, and a ground rent of £5,000 per annum with rent reviews every seven years – a guide price of £200,000+.

The final Birmingham City Council lot being offered is 11 Pentos Drive, Birmingham, which is subject to a 99-year lease from 1987 and has an annual ground rent of £200, with rent reviews in April 2037 and April 2062 – guide price of £125,000+.

Ron Darlington, consultant director at Bond Wolfe, said: “Commercial ground rents are growing in popularity as sound assets delivering solid returns – something to reflect on in troubled times.

“This is a valuable and varied portfolio of such assets, and we are very pleased, once again, to be instructed to sell these further lots on behalf of Birmingham City Council.

The Birmingham City Council lots are among 199 lots that will appear in Bond Wolfe’s next auction which starts at 9 am on Wednesday 30 March. The auction will be live-streamed 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/, 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/.