Grade II listed offices in Birmingham, leased as education offices, are set to go under the hammer with a guide price of £275,000+ in Bond Wolfe’s July auction.
The Georgian building is among a string of surplus properties being put up for auction by Birmingham City Council in the livestreamed auction on Thursday July 10.
They are the latest in a series of property sales by the council over the last 18 months.
Commercial property agency Bond Wolfe has been instructed by Birmingham City Council to sell the offices at Balsall Heath, which have been used as an adult education centre by Joseph Chamberlain Sixth Form College.
Gurpreet Bassi, chief executive of Bond Wolfe, says: “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.
“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 office building is one of a pair of semi-detached two bay two-storey villas, built around 1830-40. 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 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 education offices will be among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday July 10.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email [email protected] or call or call 0121 312 1212 or 01902 928 510.
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