Disused properties owned by cash-strapped Birmingham City Council will go under the hammer this morning. The authority, which declared it was effectively ‘bankrupt’ last year, is selling 29 properties today.
The lots on sale, via auctioneers Bond Wolfe, include the former Four Dwellings Children’s Centre in Quinton. It has fire damage and is in need of renovation. The freehold purpose-built children’s centre currently has 17 parking spaces and has a guide price of £300,000-plus.
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There is also a commercial investment opportunity in Moseley. The freehold property at 455 Yardley Wood Road, currently operates as a day nursery, and is subject to a 25-year lease from 2017 on a passing rental of £18,000 per annum. It has a guide price of £180,000 plus. It later sold for £416,000.
The former Sandcastle Day Nursery on Chester Road, Erdington was withdrawn. But it is expected to return to auction at a later date.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “There are a range of opportunities here for entrepreneurs and seasoned investors to bring these properties back to life and into day-to-day use again. Similarly, the investment and ground rent lots can provide a steady income for investors looking for a bit of stability in what is still an uncertain economic outlook.
“We are anticipating high demand, both for the lots offered by Birmingham City Council, and also a wide range of residential, commercial, retail, mixed use and land and investment opportunities.”
The city council has also instructed Bond Wolfe to sell 25 ground rents on a range of commercial, industrial and retail properties across the city, including ten in New John Street West. The livestreamed auction will go ahead from 8.30am, today, Thursday, February 8.
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11:53Ben Perrin
More freehold interest in council properties
We’re back onto three council-owned properties now.
The first one is lot 42, which is 32 New John Street West. It’s freehold interest secured on industrial land and premises.
Has a guide price of £55,000 plus. Sells for £56,000.
11:45Ben Perrin
One sold and another withdrawn
Lot 40 – 12 Lilac Avenue, Perry Barr, Birmingham, B44 8LX – sold for £188,000
Lot 41 – Thurlemere, 2 Stanley Road, Hednesford, Cannock, WS12 4AX – withdrawn prior to auction
11:42Ben Perrin
‘Great contest – Mr D that’s yours’
A fierce bidding war for lot 39. This is for St Thomas Road in Erdington.
It’s a two-bed mid-terraced property standing elevated from the road behind a foregarden.
A bid of £128,000 beats off competition. Auctioneer James says: “Great contest – Mr D, that’s yours.”
Also lot 37 – 12 Frederick Avenue, Hinckley, LE10 0EX – sells for £115,000
Lot 38 – 56 Hunton Road, Erdington, Birmingham, B23 6AH – sells for £160,000
11:22Ben Perrin
‘A few of you are hovering’
The successful bidder gets lot 36 for £141,000 after a few bidders were ‘hovering’.
This was for 54 Elston Hall Lane in Wolverhampton.
11:18Ben Perrin
‘He’s not mucking about – straight back in on the telephone’
The auctioneer tells one of the bidders: ‘He’s not mucking about – straight back in on the telephone.’
This is lot lot 35 at number 17 Montpelier Road, Erdington. Sells for £175,000.
11:12Ben Perrin
Three further sales here
Lot 32 – 23 Noose Lane, Willenhall, WV13 3BX – sells for £161,500 (guide price of £39,000-£44,000)
Lot 33 – 77 Nimmings Road, Halesowen, B62 9JF – sells for £149,500 (guide price of £65,000+)
Lot 34 – 43 Montpelier Road, Erdington, Birmingham, B24 8EB – sells for £142,500 (guide price of £39,000+)
10:57Ben Perrin
‘Miss S well done’
The auctioneer declares ‘well done to Miss S’ after she successfully bids for lot 31.
This is a three-bedroomed home on Chinley Grove, Kingstanding. Had a guide price of £40,000 plus.
Sells for £149,000
10:53Ben Perrin
Third council premises sold on New John Street West
A lot of interest in this council property with a bidding war.
Lot 30 is a freehold interest secured on industrial land and premises at 30 New John Street West, Newtown.
Guide price was £50,000 plus. Goes for £67,000.
10:47Ben Perrin
Newtown council-owned properties sell
Back to more council-owned properties now.
Lot 28 is a freehold interest secured on industrial land and premises at 26 New John Street West, Newtown, Birmingham, B19 3NB.
Had a guide price of £55,000 plus. It goes just over it for £56,000.
While lot number 29 is also up for grabs under same pruchase conditions. It’s located nextdoor at 28 New John Street West and has a guide price of £50,000 plus. Sells for £55,000.
10:37Ben Perrin
Three homes sold
Lot 25 – 18 Clarence Avenue, Handsworth, B21 0EB – sold for £117,000 (guide price of £29,000+)
Lot 26 – 20 Ilsley Road, Erdington, B23 6EP – sold for £151,000 (guide price of £59,000+)
Lot 27 – 73 Ivy House Road, Kings Norton, B38 8JP – sold for £155,000 (guide price of £69,000+)
10:30Ben Perrin
Paying after successful bid
If you are the successful bidder, you need to pay your 10 percent deposit (subject to a minimum of £5,000).
There is also an administration fee of £1,920 inc VAT (£1,600 plus Vat) by debit card immediately “on the fall of the gavel.”
10:28Ben Perrin
Mixture of telephone and online bids
A mix of telephone and online bids have been accepted this morning.
Bidders must create an account with Bond Wolfe prior to the auction.
10:22Ben Perrin
Northfield three-bed
Onto lot 23 now. It’s a three-bed property at 139 Farren Road in Northfield. At auction with guide price of £69,000+.
It’s a vacant freehold semi-detached property with detached garden room to rear. It sells for £180,500.
While lot 24 – at 207 The Roundabout, Northfield – goes for £167,000.
10:14Ben Perrin
Home with guide price of £10k sells for £115k
A house located at on the Fairway, Northfield, sells for £115,000. That was lot 21 which had a guide price of just £10,000+.
It’s decribed as a semi-detached property, standing back from the road behind a foregarden.
While lot 22 – situated at 95 Walkers Heath Road, Birmingham, B38 0AP – goes for £177,000.
10:02Ben Perrin
Three more sales here
Five more lots here with three sales. The two Walsall properties which were withdrawn could feature in next month’s Bond Wolfe auction.
Lot 16 – 6 Babington Road, Handsworth, Birmingham, B21 0QE – sells for £147,000 (guide price was £40,000+)
Lot 17 – 28 Eve Lane, Dudley, DY1 3TZ – sells for £147,500 (guide price of £59,000+)
Lot 18 – 131 Atlantic Road, Great Barr, Birmingham, B44 8LN – sold for £171,000 (guide price of £39,000+)
Lot 19 – Unit 1- 4 Blakenall Heath, Walsall, WS3 1HL – withdrawn
Lot 20 – 81-89 Bridge Street, Walsall, WS1 1JQ – withdrawn
09:48Ben Perrin
Next three lots
The next three lots are all three-bed vacant homes.
Lot 13 – 27 Prestwood Road, Selly Oak, Birmingham, B29 5EB – sells for £180,000 (guide price £69,000+)
Lot 14 – 316 Garretts Green Lane, Kitts Green, Birmingham, B33 0TS – sells for £152,000 (guide price £64-£69,000)
Lot 15 – 224 Sladepool Farm Road, Maypole, Birmingham, B14 5EE – sells for £160,000 (guide price £50,000+)
09:33Ben Perrin
First dozen council properties
That’s the first dozen council owned properties at auction – but more will follow shortly.
We’re currently onto residential vacant properities.
09:29Ben Perrin
Freehold interest in Birmingham – lot 12
A freehold interest has been secured on industrial land and premises at 24 New John Street West, Birmingham, B19 3NB.
With a guide price of £75,000 plus – it goes for £77,000.
09:25Ben Perrin
Lot 11 sells for £75k
A freehold interest secured on industrial land and premises at 22 New John Street West, Birmingham, B19 3NB.
It sells at £75,000.
09:21Ben Perrin
Another blow for council
Lot 10 goes unsold in another blow for the council.
It was for freehold interest secured on industrial land and premises at 8 Bullock Street, Birmingham, B7 4DY.
It had a guide price of £120,000 plus. But goes unsold with last bid standing at £110,000.
09:17Ben Perrin
Lot 9 – unsold
The freehold interest at Richmond House, Park Road, Hockley, goes unsold.
It had a guide price of £230,000 plus. But last bid was £225,000.
09:14Ben Perrin
Lot 8 – unsold
A freehold interest secured on industrial land and premises in Aston.
Located at 212 Thimble Mill Lane, Birmingham, B7 5HT.
But is goes unsold with bid standing at £199,000. The guide price was £200,000.
09:11Ben Perrin
Lot 7 – sold for £175k
A freehold interest secured on industrial land and premises at Steward Street, Birmingham, B18 7AE.
It sells for £175,000.
09:07Ben Perrin
Former depot site – Lot 6
The former depot site at Latelow Road, Garretts Green, Birmingham, B33 8JZ, has gone under the hammer.
It had a guide price of £175,000. It extends to approx 0.92 acres (3,729 sq.m.), which may be suitable for development, subject to obtaining the necessary consents in Birmingham.
It sold for £261,000 to Mr C.
09:01Ben Perrin
Lot 5 – withdrawn
The vacant freehold former Sandcastle day nursery in Erdington has been withdrawn.
It is expected to go under the hammer at a later date.
08:58Ben Perrin
Lot 4 – sold for £75,000
The freehold interest property at 26 Hall Street, Birmingham, B18 6BS has been sold.
Gone for £75,000.
08:55Ben Perrin
Lot 3 – sold for £51k
The third council property is a freehold interest secured on commercial premises and land at Lowe Street, Camp Hill, Birmingham, B12 0ER.
It had a guide price of £5,000. It sold for £51,000
08:51Ben Perrin
Lot 2 sold
The Balsall Heath property has sold as a commercial investment.
It has gone for £116,000.
08:48Ben Perrin
Lot 2
The second lot is a commercial investment at 411 Moseley Road, Birmingham, B12 9BY.
It has a guide price of £25,000.
08:46Ben Perrin
Sold for £416,000
A bid has been accepted for 455 Yardley Wood Road, which currently operates as a day nursery in Moseley.
Sold for £415,000 to Mr S.
08:39Ben Perrin
Moseley property on sale
The first lot is a detached commercial investment property in Moseley.
It is located at 455 Yardley Wood Road, B13 0TA. It has a guide price of £180,000.
08:33Ben Perrin
Auction live
Good morning.
There are 170 lots on offer from Bond Wolfe today.
It includes 29 from Birmingham City Council.