9th May 2019
Former school with permission for 21 flats is among development opportunities going under the hammer
Developers and investors looking to increase their commercial portfolios should not miss the latest auction catalogue from SDL Auctions Bigwood, the largest and most successful property auctioneer in the West Midlands.
The catalogue includes several commercial units, mixed-use properties and development opportunities, as well as houses and flats in a bumper publication which combines lots to be sold at Villa Park on Thursday 23 May as well as those being sold by online auction.
One of the largest lots is a former school in Dudley with planning permission for conversion to 21 apartments. Latterly used as offices, The Claughton Centre, Blowers Green Road, sits on a site of around 0.87 acres half a mile from Dudley Town Centre, convenient for Russells Hall Hospital and Merry Hill Shopping Centre. It has a *guide price of £200,000.
Smaller development opportunities are also available, including land off Mayland Road, Edgbaston, which has outline planning permission for a single-storey dwelling and a guide price of £75,000, and 578, 578A & 578B Parkfield Road, Wolverhampton, which has a guide price of £85,000+ and planning permission for two detached bungalows, each with two bedrooms. Development has already begun on the site, which also has an end terrace property split into two flats, currently producing an annual income of £10,800.
Also among the commercial properties to be sold at the auction are two pubs.
The Chester Tavern, 211 Chester Road North, is a three-storey pub in Kidderminster with a *guide price of £110,000+ and the potential for conversion to a mixed-use or other development, subject to planning permission. The ground floor currently has a seating area, central bar, rear storage, toilets and access to the cellar. The first floor has two large reception rooms, a kitchen and bathroom, while the second floor has two double bedrooms, each with a box room extending into the eaves. Outside there is a beer garden at the rear and parking at the front.
The second pub due to go under the hammer is The Cambridge, Cambridge Street, Caldmore, a two-storey building in a prominent position with the potential for conversion into separate houses or apartments, subject to planning permission. It has a guide price of £180,000-£200,000.
The commercial and mixed-use lots include two takeaway restaurants. First to go under the hammer is a former Chinese restaurant, The King’s Garden, 10 Brunswick Street, Stoke on Trent, which has planning permission for the creation of two apartments on the first floor, providing a potential income of around £23,000 per year once fully let. It has a guide price of £70,000+.
A popular Caribbean takeaway in a prominent town centre location is also available. 38 Worcester Road, Bromsgrove, which has a guide price of £150,000+, currently produces an annual rental income of £10,500 but auctioneers feel it could have the potential to achieve £18,000 a year when fully let.
The three-storey building houses the takeaway and storage unit on the ground floor; these are both currently let to the restaurant business but there is potential to let the storage unit separately in the future. The upper floors are accessed via a separate external staircase and have been renovated to a high standard. They comprise a kitchen, large lounge, two bedrooms and a bathroom. Outside there is a garage and rear driveway providing parking for four vehicles.
Another interesting lot is made up of a series of canalside workshops. Sneyd Wharf, Sneyd Lane, Bloxwich, which has a guide price of £55,000+, comprises a range of single-storey brick workshops and stores, adjacent to the Wyrley & Essington Canal at Sneyd Wharf. They are being sold subject to the existing tenancy, which currently produces rental income of £5,550 plus VAT per year.
Auctioneer Rory Daly, said: “As you can see, whether you are a large or small investor, there are commercial lots and development opportunities to suit all budgets. We have small parcels of land right through to extensive plots suitable for many homes, plus everything in between, so if you are a landlord or investor, you won’t want to miss our May auction.
“It’s well worth checking out our catalogue, too, where you’ll find a wide range of properties which are being sold by online auction. We are one of only a few auctioneers to offer both conditional and unconditional sales, via room auctions and online auctions, so we are in a position to provide more choice to sellers and buyers. But whichever method of sale you choose, you can be sure of a hassle-free, transparent transaction.”
To find out more about any of the properties in the catalogue, or for information on bidding online or by telephone, visit the website at www.sdlauctions.co.uk.
* Each property is subject to a Reserve Price which may be different from the Guide Price. For full definitions see www.sdlauctions.co.uk/glossary.