Twelve Birmingham City Council properties are set to go under the hammer next month (July).
The city council has auctioned different properties and lots over the last few months. The upcoming sale of a selection of freehold properties, commercial investments and ground rents follows on from the sale of eight out of nine city council properties offered in Bond Wolfe’s May auction.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “The lots we are offering for Birmingham City Council will appeal to a wide variety of investors, ranging from those looking for solid returns to developers seeking sites with potential.”
In September, the council issued two Section 114 notices, formal admissions it was effectively bankrupt.
12 council-owned commercial properties are now set to appear at a Bond Wolfe auction next month. Let’s take a look at those properties below.
These properties offered on behalf of Birmingham City Council are among scores of lots that are appearing in Bond Wolfe’s next auction, which will start at 9am on Thursday 11 July.
1. 55 Stevens Avenue, Birmingham
The building at 55 Stevens Avenue, Birmingham, has latterly been used as a family office, comprising of offices, classroom and seven parking spaces. The property is offered freehold with a guide price* of £325,000+. The site is located in Woodgate, close to the popular commuter suburb of Harborne. | Bond Wolfe
2. 140 Hockley Hill, Birmingham
Commercial investment and ground rent opportunities include 140 Hockley Hill, Birmingham, a freehold investment of land and industrial premises which is being sold with a guide price of £100,000+. It is subject to a 99 year lease from January 1978 with a ground rent of £4,100 with six year rent reviews. | Bond Wolfe
3. 29 Inkerman Street, Saltley
The freehold of 29 Inkerman Street, Birmingham, is also being sold with a guide price of £20,000+. The site comprises land and industrial premises let on a 99 year lease from June 1988, subject to a peppercorn ground rent. | Bond Wolfe
4. 30 Inkerman Street, Saltley
Next door, 30 Inkerman Street, Birmingham, the freehold interest on land and premises is also being sold, subject to a 99 year lease from September 1988, also with a peppercorn ground rent. It has a guide price of £55,000+. | Bond Wolfe