20th March 2020
Three auction lots which could bring new homes to the West Midlands
Property developers are urged to check out several lots in SDL Auctions Bigwood’s next auction, when several opportunities to create new homes will be going under the hammer.
The auction, which will be conducted via video link to limit social contact, takes place on Wednesday 25th March, when bidders will be able to choose from a range of opportunities, from old buildings seeking a new purpose to empty plots of land with planning permission for new dwellings.
Among the development opportunities will be 7 Church Street in Brierley Hill, the former Plough Inn, which has been derelict for some years but now has planning permission for conversion into a six bedroomed House in Multiple Occupation.
The former pub, which has a *guide price of £60,000+, has full planning permission from July 2018 and auctioneers believe that, once developed and fully let, it could have a potential gross income of around £28,000 per year.
The property is close to the High Street and the A461 bypass, with excellent rail and bus links to nearby Stourbridge, Merry Hill shopping centre and Birmingham city centre.
Head of Auctions West Midlands Vejay Pal said: “One of the most satisfying aspects of working in the property industry is seeing unused and often derelict buildings being transformed into much-needed new homes, so I can’t wait to see how this property is developed.
“This is a fantastic opportunity to establish an HMO in an area of huge demand for affordable accommodation, close to several large employers, including Russells Hall Hospital, Intu Merry Hill Shopping Centre and the Waterfront Business Park.”
Developers who prefer to work from a clean slate may be interested in a plot of land in Wolverhampton with outline planning permission for three dwellings.
The irregularly shaped plot of land to the rear of 46 Park Street South, fronting Haggar Street, currently houses a dilapidated garage and has outline planning permission from October 2019 for a detached two-storey house and a pair of semi-detached dormer bungalows. The site is in a mainly residential area with good bus links into Wolverhampton city centre, approximately 1.5 miles away, and has a guide price of £120,000+.
In Handsworth, just a few miles from Birmingham city centre, a plot of land is available for a guide price of £25,000 to £30,000.
The 0.4-acre parcel of land off Friary Road is situated along a popular housing estate and previously contained 23 garages, which have now been demolished. It is currently used as car storage space but auctioneers believe the side lends itself well to development, subject to planning permission.
Vejay added: “Here is an opportunity to secure a plot of land with an attractive guide price and many possibilities. We feel that, with the appropriate planning permissions, the site would be suitable for a number of uses, including residential development, as it borders an existing housing estate.”
These are just a handful of the lots going under the hammer at SDL Auctions Bigwood’s second auction of the year on Wednesday 25th March. You can view the full auction catalogue online or click here to register as a remote bidder and a member of the team will call you back to confirm your bidding requirements. Bids can be taken online, via telephone or by proxy.