Roundup of commercial auction opportunities

A vacant freehold Grade II listed city centre office building in Birmingham is among the commercial properties going under the hammer in December.

Newhall Street

54 Newhall Street, Birmingham, dates from around 1900. The building has a guide price of £550,000 and features four floors and a basement, while it may be suitable for a variety of uses subject to planning permission.

It sits within the city’s principal business district and has easy access to the A38M and the national motorway network via junction 6 of the M6.

Ian Tudor, joint managing director auctions who heads up the commercial team, said: “This centrally located building has for many years served as offices for renowned city law firm Grove Tompkins Bosworth, which has now relocated across the inner ring road to Water Street.”

Five of the 24 commercial lots going under the hammer from Bond Wolfe on December 8 have already been sold, such as the demand for these types of properties.

Tudor added: “Investors recognise the value to be had in the commercial lots we offer, so there is always intense competition for the best located properties offering the best potential returns.”

Other commercial ground rents are being sold on behalf of Birmingham City Council.

100 Windsor Street South

These include the freehold ground rent of 308-310 Park Road, Hockley, and the freehold ground rent of 100 Windsor Street South, Nechells. No offers will be considered before or after the auction.

In Wolverhampton one of the most prominent city centre buildings, housing a large Job Centre Plus office, is coming up for auction with a guide price of £1.25 million.

Also occupied by Merkur Slots, the building extends to 18,784 sq ft and, alongside its potential for redevelopment, Chapel Court in Market Street currently generates £145,966 per annum in rent. It is being offered on behalf of Horton Estates.

38a Suffolk Street

Bond Wolfe is also auctioning 38a Suffolk Street in Sunderland, a former freehold club premises with planning permission for conversion to 13 apartments. It has a guide price of £175,000+.

Stanley Hotel

Stanley Hotel, 5 Livingstone Road, Blackpool, is an 11 bedroom, recently refurbished property close to all the resort’s famous amenities, and has a guide price of £110,000.

Part of a former Methodist church hall within the Swadlincote Conservation Area in Derbyshire which is situated to the rear of 12 West Street will appeal to smaller developers as it has planning permission for conversion to three townhouses and an attractive guide price of £75,000-£85,000.

2a Church Street

In Gainsborough, Lincolnshire, a freehold town centre investment opportunity is offered at, 2 & 2a Church Street, and includes two ground floor retail units with upper floors available, and current gross income of £7,800 per annum. The investment has a guide price of £125,000+.

25 Market Street

At 25 Market Street, Kettering, a mid-terraced retail premises is also offered with a guide price of £125,000+.

38 Scot Lane

In Doncaster, 38 Scot Lane is a three storey commercial property with a guide price of £120,000+.

423 Grimsby Road

An attractive, high yielding, dental lab investment property is available at 423 Grimsby Road, Cleethorpes, South Humberside, and comes with ground rent receivable from the first floor, self-contained flat. Current rental income is £4,350 and the property has a guide price of £20,000.

Tudor said: “These are just a selection of our properties available across England and demonstrate that online auctions are a valuable way of reaching out to investors, wherever they are based.

“We also have a large selection from our traditional Midlands heartland and so we are expecting keen competition when all these lots go under the hammer.”

The commercial properties are among 197 lots that will appear in Bond Wolfe’s next auction which starts at 9am on Wednesday 8 December. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.

Leave a Reply