Investor makes £75,000 profit in two months using auctioned sale

A Midlands investor has made £75,000 in under two months after he sold a former health centre in Burntwood, Staffordshire, in Bond Wolfe’s February auction.

A 5,400 sq ft complex sitting on almost a third of an acre of land, the former NHS medical centre in Hudson Drive has been empty since last year, when the medical practice moved to the new £3.4 million Greenwood Health Centre on nearby Lichfield Road.

The private investor acquired the site from a leading London-based auction house’s sale in December for £415,000.

It was offered in Bond Wolfe’s February auction with a guide price of £400,000 and sold for £490,000.

Ian Tudor, joint managing director auctions at Bond Wolfe, said: “We knew there would be strong interest in this lot because it is a site that clearly suitable for a variety of alternative uses, including residential development, subject to planning permission.

“It stands within a popular and well-established residential neighbourhood so was likely to prove highly attractive to a range of developers and investors. Working with Lichfield District Council, this redundant site could be regenerated as a high-yielding property investment.”

The former Burntwood health centre was one of 132 lots of the 146 lots offered in Bond Wolfe’s February auction, recording a success rate of 91% and raising over £17.7 million in sales.

Bond Wolfe’s next residential, commercial, land and investment property sale is on Wednesday 30 March, starting at 9am. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.

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