The five properties – in Nechells, Sparkhill and Newtown – are for ground rents only
Unit 3 (Shop 6) & Unit 4 (Shop 8), Wheeler Street Shopping Centre, Wheeler Street, Newtown(Image: Bond Wolfe)
More assets are being sold by ‘cash-strapped’ Birmingham City Council at auction next month.
The five sites in Nechells, Sparkhill and Newtown are for ground rents only. They include retail units, office buildings, warehouse and a yard.
They will form more than 100 lots at Bond Wolfe’s auction on Wednesday, December 10.
READ MORE: Scout hut and Solihull land among sales generating over £21m at auction in October
The auctioneers generated £21m at a previous auction last month.
It included the former 4th Darlaston Scout Hut on Victoria Road in Darlaston, thought to have been built before the First World War.
It had a guide price of £25,000-plus but was sold on behalf of Walsall Council for £157,000 during the Bond Wolfe auction last week.
Woodland at Parish Poles on Widney Lane in Solihull, which had a guide price of just £5,000-plus, was sold for £118,000.
BirminghamLive has looked at the next council lots:
92 Cato Street, Nechells
92 Cato Street, Nechells, Birmingham(Image: Bond Wolfe)
A freehold interest secured on industrial land and premises.
Freehold interest subject to a lease for a term of 125 years from March 9, 1987 (approx. 88 years unexpired).
Ground rent of £100 per annum, subject to fixed rental increase doubling every 25 years from 2037 onwards.
11 Pentos Drive, Sparkhill
11 Pentos Drive, Sparkhill(Image: Bond Wolfe)
A freehold commercial ground rent investment secured on a two storey office building, warehouse and yard.
The business will remain unaffected.
The property is subject to a 99 year lease from April 14, 1987 (approximately 61 years unexpired) at a ground rent of £200 per annum doubling every 25 years.
Unit 2 (Shop 4) Wheeler Street Shopping Centre, Wheeler Street, Newtown
Unit 2 (Shop 4) Wheeler Street Shopping Centre, Wheeler Street, Newtown(Image: Bond Wolfe)
A freehold interest secured on retail premises.
Freehold subject to a lease for 99 years from September 29, 1968 at a ground rent of £ 175 per annum, subject to rent reviews every 25 years.
Unit 3 (Shop 6) & Unit 4 (Shop 8), Wheeler Street Shopping Centre, Wheeler Street, Newtown
Unit 3 (Shop 6) & Unit 4 (Shop 8), Wheeler Street Shopping Centre, Wheeler Street, Newtown(Image: Bond Wolfe)
Two freehold interests secured on retail premises
Both are freehold subject to a lease for 99 years from September 29, 1968 at a ground rent of £175 per annum per unit (£350 per annum).
This is subject to rent reviews every 25 years.