Investors look for the value in Birmingham City Council assets at auction
Growing investor demand has led to a further six commercial property assets owned by Birmingham City Council being placed in Bond Wolfe’s next auction on Wednesday 9 February.
The auction will lead off with a freehold retail premises at 184 Sutton New Road in Erdington going under the hammer with a guide price* of £200,000+. The property has retail space and offices and has secure side parking for up to five cars.
This will be followed by five of the popular commercial ground rents and garages lots that sold well in Bond Wolfe’s 2021 auctions.
These include the freehold commercial ground rent of Radnor House in Radnor Street, Birmingham (pictured), which is offered with a guide price of £225,000+.
A freehold commercial ground rent secured on the two storey building, warehouse and yard at 11 Pentos Drive, Birmingham, has a guide price of £150,000+.
The freehold premises and yard at 31-33 Green Lane, Small Heath, Birmingham, is listed with a guide price of £200,000+ for the commercial ground rent.
57 St Clements Road, Birmingham, is a depot and yard with a commercial ground rent being offered with a guide price of £225,000+.
The final lot being offered on behalf of Birmingham City Council in Bond Wolfe’s February auction is 100 Windsor Street North, in Nechells, Birmingham, and it has a guide price of £125,000+.
Ron Darlington, consultant director at Bond Wolfe, said: “We are very pleased, once again, to be able to lead off our February auction with such a valuable and varied portfolio of city council assets.
“The demand by investors for such assets remains strong and we are confident of some competitive bidding before the hammer falls.”
The Birmingham City Council retail and office property and commercial ground rents are among 159 lots that will appear in Bond Wolfe’s next auction which starts at 9am on Wednesday 9 February. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.