Development sites and ground rents at Bond Wolfe’s December auction

The Bond Wolfe auction on Wednesday 14 December is likely to attract a range of investors and builders across the Midlands.

Colin Totney, land and development surveyor at Bond Wolfe, said: “Our auctions continue to see a broad range of lots that attract strong interest from buyers at home and abroad."

“From parcels of land or sites ripe for redevelopment in prime residential areas to ground rents providing long-term income, we see investors and builders lining up to take part in our livestreamed auction on 14 December.

“I predict some highly competitive bidding, with these lots offering the potential for excellent returns on investment.”

Sites up for auction this December

The biggest single plot is the 1.33-acre site of the former Abu Bakr School, in Kent Street, Walsall. This has a guide price of £1.275 million. 

The former Sparkhill Methodist Church, at 40-46 Warwick Road is another prominent site for potential redevelopment. An associated apartment at the rear of the site is listed with a guide price of £495,000+.

In nearby Moseley, a substantial three-storey detached property - The Grange, 42 Park Hill – has been converted into 10 self-contained flats but could be redeveloped with the appropriate planning permissions. It is listed for auction with a guide price of £750,000+.

Burton upon Trent has a one-time church hall up for auction with planning permission for conversion into a mixed-use development of apartments, shops, and offices.

Listed with a guide price of £99,000+ is a half-acre of land at Unit 10 Musk Lane/Brook Street, Lower Gornal, Dudley. it has full planning permission for eight houses and two apartments.

Freehold ground rents in Wales and Merseyside

There are also a handful of freehold ground rents in Wales and Merseyside up for auction.

In Southport are three ground rents on properties with a nil reserve guide price. These include a large detached house at 25 Lancaster Road, Southport, The ground rent on the semi-detached house at 18 Grosvenor Road, Southport, and a detached house at 20 Waterloo Road.

Mid-terrace house at 55 Glandwr Street, Abertillery, has a guide price of £6,000+ for the ground rent.

The development land and ground rents are among 161 lots that will form part of Bond Wolfe’s next auction at 9 am on Wednesday 14 December.