The Georgian building is among a host of surplus properties being put up for sale at auction by Birmingham City Council which has been selling off assets over the last 18 months to raise funds.
Commercial property agency Bond Wolfe has been instructed by the council to sell 362 Moseley Road, Balsall Heath, which has been used as an adult education centre by Joseph Chamberlain Sixth Form College, in its next livestreamed auction on Thursday July 10.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “This highly attractive Georgian investment property currently generates a gross rental income of £17,500 per annum and we expect considerable interest from investors around the country, and overseas, when it comes up for sale at our July livestreamed auction.
362 Moseley Road, Balsall Heath, Birmingham
“We are pleased that Birmingham City Council has continued to entrust us with the auction sale of its surplus properties, which have achieved strong results. They are high quality sites that have attracted considerable interest from developers and investors alike over the last year.”
The Moseley Road office building is one of a pair of semi-detached two bay two-storey villas, built around 1830 to 1840.
Currently used as educational offices, it extends to 3,570 sq ft. The ground floor comprises a reception area, three offices, two workshops a rear canteen, a kitchen, conference room and laundry room.
On the first floor there is a kitchen, office and training room, with two further storage rooms in a second floor attic area.
The property is let on a 10-year lease from August 1 2014, at a rental figure of £17,500 per annum.
In addition to the sale price, the purchaser will be required to pay the council’s professional fees of £3,600.
The property is among scores of lots set to go under the hammer in the auction, which will be livestreamed via Bond Wolfe’s website from 8.30am – with remote bidding by proxy, telephone or internet.