Skint Birmingham City Council rakes in £5m at property auctions - full list of sales
Birmingham City Council has made millions through auction property sales since it passed its unprecedented budget in March this year. As it looks to tackle its financial woes, the cash-strapped council has sold several properties in three recent auctions held by Bond Wolfe.
Some of the lots which have gone under the hammer include a former children’s home, a single-storey shop in Sparkhill and a three-storey premises comprising a cultural centre and office. In total, the amount sold at the past three Bond Wolfe auctions, held in September, July and May, comes to nearly £5 million.
The city council, which declared itself effectively bankrupt last year, has found itself dealing with Birmingham-specific problems, such as an equal pay fiasco and the disastrous implementation of a new IT and finance system, as well as other issues such as the rising demand for services and funding cuts. Here’s a look at what council lots were sold in the past few months.
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September 12 - £523k
Three Birmingham City Council lots sold for a combined total of £523,000 during an auction this month. This included 8 Bullock Street in the Nechells area (freehold interest), which sold for £177,000 - £107,000 more than its guide price.
Meanwhile 155 Dollman Street, Saltley (freehold interest) sold for £229,000 while 253-255 Great Lister Street in the Nechells area (freehold interest) sold for £117,000.
July 11 - £2.13m
In July, a freehold two-storey detached former children's home was sold at auction for £585,000. The site in 55 Stevens Avenue may be suitable for redevelopment, subject to obtaining the necessary planning consents in Birmingham.
Another lot was for 334 Stratford Road in Sparkhill, a single storey shop with an aluminium-framed shop front and flat roof on the corner of Walford Road. The freehold commercial investment property was sold for £303,000.
The other lots, and how much they went for, were:
105 Saltley Road in Saltley, freehold interest (£36,000)
29 Inkerman Street in Nechells, freehold interest (£102,000)
140 Hockley Hill in Hockley, freehold interest (£116,000)
448 Stratford Road in Sparkhill, freehold commercial investment property (£550,000)
9 Whitmore Road in Small Heath, freehold commercial investment property (£300,000)
32 New John Street West, freehold interest (£61,000)
34 New John Street West, freehold interest (£74,000)
May 16 - £2.29m
One lot during May’s auction was for 241-243 Dudley Road, a premises comprising a retail shop premises with residential accommodation over, situated on the A457 Dudley Road. The commercial investment property had a guide price of £200,000 plus but ended up going for £372,000.
Another lot was for 235 Dudley Road, a three-storey premises comprising a cultural centre and office on the A457 Dudley Road. This commercial investment property was sold for £365,000.
The other lots, and how much they went for, were:
Land and premises at 86 Hospital Street and Buckingham Street, freehold Interest (£610,000)
Land fronting Great Barr Street, freehold land (£402,000)
1177 Coventry Road/Redhill Road in Hay Mills, freehold interest (£210,000)
94 Cato Street in Nechells, freehold interest (£78,000)
92 Cato Street in Nechells, freehold interest (£78,000)
Land and building at Coventry Road in Solihull, freehold land and detached building (£176,000)
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