Investors’ demand for strong returns reflected in Bond Wolfe’s September auction commercial lots

Investors’ demand for strong returns reflected in Bond Wolfe’s September auction commercial lots

The success of Bond Wolfe’s livestreamed July auction in selling all five commercial ground rents offered on behalf of Birmingham City Council has prompted the local authority to offer five more lots in the next auction to be held on Thursday 9 September.

Bond Wolfe will be auctioning the ground rents on properties at 100 Windsor Street South, Nechells, (guide price* £200,000+), 340 Summer Lane, Newtown (guide price £175,000+), 342 Summer Lane, Newtown (guide price £150,000+), 85 New Summer Street, Newtown (guide price £200,000+), and 31 Hatchett Street, Newtown (guide price £125,000+).

Mixed use lots are always popular, and a good example is a substantial lot in Brierley Hill which includes Flats 1-11, Kingston House in Moor Street, with 91-95 High Street, providing a mixed residential and commercial investment opportunity of 11 recently converted one and two bedroom apartments and three retail units.

The total property has a potential full rental income of £78,738 per annum and is going under the hammer with a guide price of £690,000+.

Another lot bound to be popular is an attractive freehold, self-contained building currently used as a yoga studio is at 3B, Drayton Road, Kings Heath, Birmingham. The property could be considered for a variety of uses, subject to planning permission and comes with a guide price of £250,000+.

Over in Stoke-on-Trent, 69 Weston Road, Meir is a freehold investment opportunity within a busy local shopping parade.

The two-storey property has a retail unit on the ground floor, trading as Swifty’s Micro Bar, while on the upper floor there is, subject to planning permission, four rooms with kitchen, shower room and WC, which need completion as residential accommodation.

The current rental income is £7,500 with an estimated full rental income of £12,900 per annum, and the property is offered with a guide price of £95,000+.

In Birmingham, 73 Church Hill in Northfield has a retail unit on the ground floor currently in use as a hair salon and a two bedroom duplex apartment on the first and second floors with its own entrance. The property currently produces combined annual rental income of £10,260 and has a guide price of £120,000+.

Compton Lodge is a former licensed club premises at 128 Sapcote Road, Stoney Stanton, Leicester, and has the potential, subject to planning permission, to be redeveloped for residential use. It has a guide price of £275,000+.

Another former licensed premises is Rookery Tavern, a freehold pub on a 0.5 acre site that is now considered more suitable for residential development, with City of Wolverhampton Council “in principle” in favour of granting planning permission, subject to agreement. An application for 24 apartments is currently under consideration, and the property has a guide price of £299,000+.

Over in Willenhall, 70A Stafford Street is a vacant freehold, three storey town centre retail property with a guide price of £65,000-£70,000.

Ian Tudor, joint managing director auctions, said: “These are just a selection of the mixed, retail, commercial and land opportunities we will be offering in our September auction which starts at 9am on Thursday 9 September.”

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 Wednesday 8 September.

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