Birmingham City Council puts seven assets up for auction

Among the offerings is the freehold commercial ground rent for a property housing a waste and recycling company located at 64 Cato Street in Duddeston. This property, with a guide price starting at £430,000, is leased to Astar Waste, which pays an annual ground rent of £17,500. The lease spans 99 years with approximately 56 years remaining and includes rent reviews every seven years.

In Duddeston, another offering is a café located at 212 Thimble Mill Lane, with a starting guide price of £170,000 or more. The Black Country Kitchen currently pays an annual ground rent of £8,950 for these premises. The lease spans 99 years with approximately 59 years remaining, and rent reviews occur every five years.

In the Jewellery Quarter, industrial land and premises at 91 Buckingham Street are up for auction, with a guide price exceeding £215,000. A business currently pays an annual ground rent of £8,000 for this property. The lease extends to 125 years with around 87 years remaining, and rent reviews happen every seven years.

Additionally, a nearby property at Richmond House, 32 Park Road in Hockley, hosting The New Parklands banqueting suite, offers its freehold interest for sale with a guide price exceeding £190,000. This business pays an annual ground rent of £4,200, with rent reviews every seven years, on a 99-year lease with approximately 58 years remaining.

In Small Heath, the freehold interest in a property housing an MOT centre at 80 Grange Road is on sale, with a guide price of £100,000 or more. Spectrum Training Services currently pays an annual ground rent of £4,200 for this property. The lease extends to 99 years with around 60 years remaining, and rent reviews occur every seven years.

Two additional lots of freehold interests include ground rent of £2,000 annually, with rent reviews every seven years, for a property at 253-255 Great Lister Street, Duddeston. The guide price for this is £95,000 or more.

Similarly, the freehold interest in a property at 8 Bullock Street, Duddeston, with an annual ground rent of £2,000 and rent reviews every ten years, offers a guide price exceeding £95,000.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “This is a prime example of a freehold ground rent that can provide a healthy and steady income for investors. We are pleased to be the continued choice as a retained auctioneer for Birmingham City Council to help raise substantial prices for parts of its property portfolio, and we are anticipating high demand for these lots.”