A rare plot of development land in Shropshire’s Ironbridge Gorge is set to go under the hammer with a bargain price tag at Bond Wolfe Auctions’ next sale.

Known as The Wynde, the site sits off Coalport Road in Madeley to form part of the Ironbridge Gorge World Heritage Centre and is being offered with a guide price of just £5,000.

“This is a highly unusual opportunity in the heart of a World Heritage Centre and we’re expecting intense interest in the auction room on the day,” Gupreet Bassi, chief executive of Bond Wolfe Auctions, comments.

“This land has been given a very low reserve price of £5,000 because it’s currently occupied by the derelict remains of a two-bedroom, detached bungalow, accessed via a footpath. It could be suitable for a variety of uses, offering the potential either for redevelopment of this building or various other developments, subject to planning permission.”

The property is situated in the historic market town of Madeley, which forms part of the Ironbridge Gorge World Heritage site and has undergone major redevelopment in recent years, incorporating a new supermarket and shops.

Another anticipated lot is a detached residence in one of Birmingham’s most sought-after suburbs. The large three-bedroomed house at 12 Hamilton Avenue in Harborne will have a guide price of £695,000-plus.

Although the freehold property would be suitable for a growing family, it could also be suitable for an exclusive residential development subject to planning permission.

The property lies in an attractive residential location opposite Lightwoods Park, is close to popular schools and pleasant shops in Harborne and Edgbaston, and is within three miles of the University of Birmingham and Queen Elizabeth Hospital.

Jonathan Hackett, a consultant at Bond Wolfe Auctions, describes the lot as ‘an excellent property in what many families would consider to be a perfect location’.

He says: “It’s located close to Edgbaston and Harborne Golf Clubs, Edgbaston Priory Tennis and Squash Club, Edgbaston Reservoir Sailing Club and the Edgbaston Cricket Ground, and is within the catchment area of many highly reputable schools.”

Standing back from the road behind an in-and-out driveway with a side garage and gardens, the property has a porch, reception hall with cloakroom, two reception rooms, a breakfast kitchen and side utility room.

The bedrooms upstairs include a master with ensuite bathroom as well as a separate family bathroom, and there is gas central heating system and double-glazing on the majority of the windows.

The auction will take place at the Holte Suite, Villa Park, on Thursday February 27 and will feature a record-breaking 215 lots following its success last year.