Birmingham properties including hair salon, tailors and flats to be auctioned

The freehold retail investments in Castle Bromwich are at 4, 8 and 12 Hurst Lane North and 6, 10 and 14 Hurst Lane North, with each one carrying a guide price* of £150,000+ in the livestreamed auction on Thursday 15 May.

Gurpreet Bassi, chief executive of Bond Wolfe, explained that each lot currently generates total rents of £19,680 per year and £22,940 per year respectively.

Mr Bassi said: “These are valuable lots that both contain fully let properties generating healthy rental incomes, and we expect plenty of competition for each of them on the day.”

The lot at 4, 8 and 12 Hurst Lane North has Danatas Hair Salon in number 4, a 378 sq ft retail area on the ground floor which generates £8,250 per year on a five-year lease to April 2028.

Flats 8 on the first floor and Flat 12 on the second floor, both with access from the rear, bring in another £5,340 and £5,400 per year respectively.

The properties at 6, 10 and 14 Hurst Lane North has Savoy Tailors in number 6, a 606 sq ft retail area on the ground floor which generates £11,000 per year on a six-year lease to September 2029.

Flat 10 on the first floor and Flat 14 on the second floor, both also with access from the rear, bring in another £5,940 each per year.

All flats in each of the properties have a reception room, kitchen, bedroom and shower room with toilet, and each is let on a periodic lease.

The Castle Bromwich properties, which will be sold subject to existing tenancies, are among 172 lots appearing in Bond Wolfe’s next auction, due to start at 8.30am on Thursday 15 May.

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