Birmingham City Council is offering 11 properties, land and ground rents for sale in Bond Wolfe’s next auction on Thursday May 16.
Bond Wolfe chief executive Gurpreet Bassi said: “We are pleased to be able to offer a wide variety of lots which will enhance the range of interest from our regular clients and those looking for opportunities in Birmingham.”
The auction, which starts at 8.30am, will kick off with a 2,249 sq ft potential development site at Coventry Road, Solihull, which comprises a rectangular parcel of land and detached building on the A45 adjoining the Tri-Star Hotel.
Next to go under the hammer will be 92 Cato Street, Nechells, Birmingham, which is being sold freehold with its ground rent with a guide price of £20,000+. The freehold is subject to a lease for 125 years from March 1987 at a ground rent of £100 per annum, subject to a fixed rental increase doubling every 25 years from 2037 onwards.
And the neighbouring property, 94 Cato Street, Nechels, Birmingham, is being offered on the same terms and conditions, for a guide price of £20,000+.
Over in Balsall Heath, 91 Court Road, Balsall Heath, Birmingham, is a freehold retail investment property which is let on a commercial tenancy from March 2016 on a current rent of £6,700 per annum. It has a guide price of £150,000+.
Also in Balsall Heath, 27 Cromer Road, is being sold freehold with a guide price of £135,000+, on a lease of 100 years (less one day) from March 2015, at a ground rent of £2,750 per annum, subject to rent reviews every five years.
A commercial/industrial unit at 1177 Coventry Road/Redhill Road, Hay Mills, Birmingham, is also being sold freehold, subject to a lease of 125 years from October 1996 on a ground rent of £2,750 per annum with rent reviews every five years. It has a guide price of £210,000+.
In Saltley, 155 Dollman Street, Saltley, Birmingham, offers industrial land and premises with a guide price of £290,000+. The property is being sold freehold on a 99 year lease from February 1987 on a ground rent of £8,850 per annum with rent reviews every seven years.
The star lot on the Birmingham City Council list will be 235 Dudley Road, Birmingham, a three storey premises comprising a cultural centre and offices. This commercial investment has a current gross income of £18,800 per annum and is prominently situated on the A457.
The property is freehold subject to a lease for 20 years from November 2003 and has a guide price of £365,000+.
Nearby is 241-243 Dudley Road, Birmingham, a retail premises with residential accommodation above that is let on periodic tenancy from January 2011 at a rent of £8,000 per annum. It has a guide price of £200,000+.
Closer to the city centre is land Fronting Great Barr Street, Birmingham, which is an irregular shaped piece of land fronting Great Barr Street close to the junction with Fazeley Street. The site could be suitable for a variety of purposes, subject to planning permission, and has a guide price of £250,000+.
The last of 11 lots going under the hammer is land and premises at 86 Hospital Street & Buckingham Street, Birmingham, and this is being sold freehold subject to two leases. The first is for 75 years from August 1963 at a ground rent of £360 per annum, and the second is for a term of 70 years from January 1968 at a ground rent of £1,900 per annum, subject to rent reviews every 21 years.
Gurpreet Bassi said: “The lots we are offering from Birmingham City Council are the latest in a number of properties, land and ground rents we have been instructed to sell as the council’s retained auctioneer and we are anticipating keen interest from a wide range of investors across the UK.”
The Birmingham City Council properties are among 208 lots that are appearing in Bond Wolfe’s next auction, which will start at 8.30am on Thursday May 16.
