Properties being sold out of administration offer opportunities to investors

Investors looking to build their property portfolios will be keeping a keen eye on nine insolvency lots in Bond Wolfe’s next auction on Thursday 30 March.

All are being offered by the joint administrators or LPA receivers in each case.

First to go under the hammer will be 13 Carter Road, Wolverhampton, a freehold, two bedroom, mid-terraced house which is currently let for £525 per calendar month, £6,300 per annum, and has a guide price* of £70,000+.

Another mid-terraced, two bedroom property which is freehold and let at a current annual rental of £7,140, is 81 Neachells Lane, Wolverhampton, which also has a guide price of £70,000+.

In the same road, a three bedroom, mid-terraced property at 89 Neachells Lane, Wolverhampton, has a similar guide price of £70,000 and produces current annual rental of £7,200.

Over in Dudley are three properties to be offered, including 7 Parkhill Street, a freehold, three bedroom, terraced house with current annual rental of £19,500 and a guide price of £125,000+. The property is arranged as a house of multiple occupation (HMO) for up to five people.

Another HMO for up to six people is at 70 Wolverhampton Street, Dudley, a freehold terraced property currently producing annual rental income of £18,999.96, and has a guide price of £150,000+.

A leasehold residential investment opportunity at 8 Kinfare Rise, Dudley, is a two bedroom, first floor apartment on a lease of 125 years from October 2006 with approximately 108 years unexpired. It is currently let at £525 per calendar month and has a guide price of £70,000+.

In Droitwich, there is the opportunity to turn a derelict property into a luxury four bedroom, four bathroom house. The site at  Milford House, 1 Corbett Street, Droitwich, is currently occupied by a detached property standing back from the road behind a driveway and foregarden which is currently in a shell-like state. However, it has planning permission for a two storey side and rear extension.

A real opportunity with a guide price of £295,000+.

Over in Smethwick, 37 Weston Road, Bearwood is a freehold two bedroom, mid-terraced house with double glazing and gas fired central heating which has a guide price of £150,000+.

Finally, land and buildings on the east side of Corngreaves Road, Cradley Heath was formerly the site of petrol station, car wash and small retail unit on a site of approximately 0.2 acres which is now available with a guide price of £100,000+.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “These properties offer the serious investor the chance to pick up a portfolio or, for those starting out in property rental, the chance to get their foot on the ladder.

They will be among 186 properties appearing in Bond Wolfe’s next auction which is due to start at 9am on Thursday 30 March.

The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.

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.