Council continues fire sale with more assets up for auction
Birmingham City Council has put forward 11 properties, land, and ground rents for sale in Bond Wolfe’s upcoming auction on May 16.
Assets will be sold from the local authorities’ £2.4bn investment property portfolio through a programme led by commissioners that will regear the portfolio.
The council holds the largest land estate of any UK local authority, extending to 26,000 acres and attracts on average £34m of revenue per year from more than 6,500 property assets and over 300 of these have historic interest.
The auction will commence with a potential development site at Coventry Road, Solihull, spanning 2,249 sq ft.
This site offers freehold, and presents various potential uses, subject to planning permission, with a guide price starting at £50,000+.
Following this, 92 and 94 Cato Street in Nechells, Birmingham, will be auctioned, each with a guide price starting at £20,000+, both are sold freehold with their ground rent, subject to specific lease terms.
In Balsall Heath, 91 Court Road, a freehold retail investment property, is available with a guide price of £150,000+.
Additionally, 27 Cromer Road, also in Balsall Heath, is being sold freehold with a guide price starting at £135,000+, under a specific lease agreement.
Further offerings include a commercial/industrial unit at 1177 Coventry Road/Redhill Road, Hay Mills, Birmingham, with a guide price of £210,000+.
In Saltley, 155 Dollman Street presents industrial land and premises, with a guide price starting at £290,000+.
Another property on the list is 235 Dudley Road, Birmingham, comprising a cultural centre and offices, with a current gross income of £18,800 per annum, the property is being offered freehold with a guide price of £365,000+.
241-243 Dudley Road, Birmingham, a retail premises with residential accommodation, is available with a guide price of £200,000+.
Close to the city centre, land Fronting Great Barr Street, Birmingham, is up for sale with a guide price starting at £250,000+.
Lastly, land and premises at 86 Hospital Street & Buckingham Street, Birmingham, are being sold freehold subject to specific lease terms.
Bond Wolfe chief executive, Gurpreet Bassi said: “The lots we are offering from Birmingham City Council are the latest in several 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.”
