6th February 2020
New auction season brings new commercial and development opportunities to Birmingham
This month investors and developers have the chance to get their hands on a commercial property lot at the first SDL Auctions Bigwood auction of the year.
A 52-page catalogue has been published ahead of the auction, which takes place at Villa Park on Thursday 13 February, when 46 residential and commercial lots of all shapes and sizes will go under the hammer.
Commercial valuer Chris Theocharides, of SDL Auctions Bigwood, said: “We’re really excited to be getting back into the auction room and offering such a great variety of properties for sale. Whether you’re looking for an office, retail unit or development opportunity, you will not be disappointed.”
A smart office building in east Birmingham would make a great purchase for a business owner, commercial landlord or even a developer as is it suitable for change of use, subject to planning permission.
173 Waterloo Road in Yardley is a two-storey detached building with a *guide price of £200,000+ which has been completely refitted to a very high standard and now features triple-glazed windows, electric roller shutters, CCTV cameras and external lighting. The drainage system has also been renewed, the roof replaced and the property rewired.
Within the building are four separate offices, each with kitchen facilities, WC and its own electric meter. In addition, the rear of the building, which faces the Coventry Road, has an advertising board which generates a monthly income of £150.
Chris said: “This is an excellent investment with a great deal of potential. You have four separate offices which can be let, along with the advertising board. It would make a valuable addition to a commercial portfolio.”
On the opposite side of the city in Rowley Regis, a mixed-use property offers the discerning buyer the best of both worlds. 165 and 165a Halesowen Street in Rowley Regis is a freehold vacant former fish and chip shop with a separate flat above. It has a guide price of £130,000+.
The centrally-located mid-terraced property features a commercial unit with serving counter, food preparation area and a rear courtyard. On the first floor and accessed via a separate entrance, is an apartment with a kitchen, living room, bedroom, bathroom and WC.
Chris said: “This is in a prime location among other commercial units and benefiting from passing trade. And the beauty of a mixed-use property is that you get two properties for the price of one, with no ground rent to pay, which maximises your returns.”
Another property with the potential to maximise returns is a vacant commercial unit to the rear of 170 Studley Road in Redditch with a guide price of £60,000+.
The freehold single-storey barbershop is split into two trading areas with separate entrances so could potentially be let to two businesses. It also has a large garden which backs onto a car park and service road, providing the potential for a substantial rear extension and change of use to residential, subject to planning consent.
Land North of Kinlet View, Bridgnorth Road, Wishley, Bridgnorth, which has a guide price of £55,000+, is an irregularly shaped but relatively flat plot with access via a gate along Woodhill Road. The plans allow for a three bedroomed detached house, although auctioneers say it may be possible to get this changed to a pair of semi-detached homes, subject to planning approval. It is believed the completed property could be worth in the region of £250,000.
All these lots and more will be sold at the first auction of the year for SDL Auctions Bigwood, which has reported another successful year in 2019, when it retained its position as the top auctioneer in the Midlands, raising 107% more in sales than its nearest competitor*.
To see all the properties being sold at Villa Park on Thursday 13 February, view the auction catalogue or click here, where you can also find information about bidding online, by telephone or by proxy.