30th August 2019
Auction lots include land with planning permission ready for new homes
Investors and developers who have been eagerly awaiting the publication of SDL Auctions Bigwood’s latest auction catalogue will not be disappointed, as it features a great selection of properties and parcels of land looking for new owners.
Among the 87 lots featured in the 88-page catalogue from the West Midlands’ largest and most successful auctioneer are 72 which are due to be sold under the hammer and a further 15 properties which are open to bidders now, as they are being sold via online auction.
Several of the lots come with planning permission in place to create new homes, which should be particularly appealing to developers.
One is a former church hall in Willenhall, with planning permission for the creation of 26 dwellings. The development Site at St. Edmunds Church Hall, Rugeley Avenue, is a rectangular and relatively flat plot extending to approximately 1.20 acres and currently featuring a prefabricated former church hall. The site, which has a *guide price of £350,000+, has planning permission from February 2019 for three blocks of apartments – a mix of one, two and three bedroomed properties – with parking and landscaping.
Another site with planning permission for apartments can be found at 57 Salop Street, Dudley with a guide price of £275,000+. The parcel of land, which has access points along Salop Street and Dibdale Road, has permission granted by Dudley Metropolitan Borough Council in January for two blocks of two-storey apartments, plus permission granted in July for two further apartments. This totals 14 apartments, giving a potential gross development value of around £1.6 million.
More apartments are planned in Tyseley, where land at 652 Warwick Road, has planning permission for 12 two bedroomed apartments with parking. The site, which has a guide price of £240,000+, is flat, square and has been fully cleared in readiness for development. It is just two miles from Birmingham, with good transport links and excellent amenities nearby.
Commercial Valuer Chris Theocharides said: “These are just a few of the development lots going under the hammer at Villa Park in September and I’m sure property developers will be just as excited as we are about them. Sites with planning permission in place mean a major hurdle has already been overcome and buyers can start work straight away, creating much-needed new homes.”
But buyers looking to add to a commercial property portfolio should not feel left out as there is plenty in the auction catalogue to choose from.
A good example of a mixed-use property is the three-storey 300 Slade Road, Erdington, Birmingham, which has a guide price of £180,000+ and currently has no fewer than three uses.
Fronting Slade Road, on the ground floor is Caribbean takeaway with a commercial kitchen, storage and WC, plus roller shutters and rear courtyard access. Behind this, accessed via Rosary Road, is a tyre repair/sales business with an office, storage and car repair space.
The upper two floors are accessed via a metal staircase off Rosary Road and feature six double bedrooms, two WCs, bathroom, kitchen, utility room, and two reception rooms.
Chris added: “This is an incredible property which has so much to offer. The living accommodation is currently let on a single assured shorthold tenancy but we feel it has the potential to be reconfigured to create a House in Multiple Occupation, subject to the usual planning permissions and building regulations.”
For something a little different, The Old Stables, High Street, Ironbridge, Telford, is an interesting building close to the famous Iron Bridge. The detached freehold commercial premises has a large ground floor showroom with twin-level first-floor storeroom and cloakroom above. It currently produces an annual rental income of £6,000 and the guide price is £60,000+.
These are just a few of the commercial and development lots available in the Thursday 12 September auction at Villa Park, Birmingham, which will also feature residential properties in the Birmingham area and across the country.
To find out more about buying at auction, online bidding or bidding by phone, or for information on any of the properties in the catalogue, please visit the website at www.sdlauctions.co.uk.