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Commercial News MediaWest MidlandsBlack Country bargains feature in next CPBigwood auction

Black Country bargains feature in next CPBigwood auction

A host of Black Country property bargains feature in the next CPBigwood auction at Aston Villa’s ground in Birmingham on Thursday, April 26.

And it looks like another packed saleroom will produce brisk bidding.

The hammer will fall on 101 lots including 51 residential properties with vacant possession, 26 residential investment properties of which a number are regulated tenancies, and five pubs. A total of 27 properties are on behalf of Law of Property Act (LPA) receivers and mortgagees, highlighting the continued demanding economic climate.

CPBigwood joint head of auctions Ron Darlington, said: “There have been loads of inquiries on the phones and via the internet.

“It is looking good and we have already received some pre-auction offers.”

Willenhall is well to the fore with 1-9 Croft Apartments, a freehold block of nine residential investment apartments, guide price of £280,000-£300,000, providing a current gross income of £38,660 per annum, a return of roughly 13.5 per cent gross, and 89-92 Walsall Street, guide price of £200,000-£225,000, converted into eight apartments producing a current gross income of £25,090 per annum with scope for improvement, a return of 12.5 per cent gross.

E1 and E2 Hagley Court North, The Waterfront, Brierley Hill, with a guide price of £100,000-£125,000, are two modern two-storey buildings situated within the office development adjacent to the Merryhill Shopping Centre.

27 Hall Street, Bilston, guide price of £94,000-£98,000, is a vacant freehold former bar and night club, a two storey Grade II listed building, recently trading as a public bar, but formerly being a nightclub and hotel.

85 Tettenhall Road, Wolverhampton, guide price of £385,000, is a freehold re-development opportunity – a large detached property situated on a main feeder road into the city centre with planning permission for conversion to eight apartments.

70-74 Dangerfield Lane, Wednesbury, guide price of £94,000-£98,000, is a pair of semi-detached properties in need of extensive modernisation.

And then there is also 2 Severn Cottages, Quatford, near Bridgnorth, guide price of £174,000-£178,000, a recently upgraded and improved mid-terraced cottage with spectacular views including the River Severn and the Severn Valley Railway.

The auction goes ahead in the Holte Suite at Villa Park, Birmingham, on Thursday, April 26, with an 11am start.

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