Bond Wolfe is aiming to raise more than £1.75m with the sale of six commercial ground rents on behalf of Birmingham City Council in its upcoming auction.
The six lots will lead the auction on 30 March:
A freehold commercial ground rent secured on a two-storey premises at 128 Hockley Hill, Birmingham. The property has a 75-year lease from June 1975 at a ground rent of £6,500. A guide price of £250,000+.
292 Upper Balsall Heath Road, Birmingham, which has a 99-year lease from August 1981 at a ground rent of £13,000pa. A guide price of £425,000+.
124 Emily Street, Birmingham (pictured), has a 99-year lease from July 1981 at a ground rent of £10,000 per annum. A guide price of £325,000+.
The premises at Auckland Road and Krywicks Lane, Birmingham, has a 99-year lease from July 1986 with a ground rent of £12,250 per annum. A guide price of £425,000+.
Radnor House, Radnor Street, Birmingham, has a 99-year lease from September 1978, and a ground rent of £5,000 per annum. Guide price £200,000+.
The final Birmingham City Council lot is 11 Pentos Drive, Birmingham, which is subject to a 99-year lease from 1987 and has an annual ground rent of £200. A guide price of £125,000+.
Ron Darlington, consultant director at Bond Wolfe, said: “Commercial ground rents are growing in popularity as sound assets delivering solid returns – something to reflect on in troubled times.
“This is a valuable and varied portfolio of such assets and we are very pleased, once again, to be instructed to sell these further lots on behalf of Birmingham City Council.”
The Birmingham City Council lots are among 199 that will appear in Bond Wolfe’s 30 March auction. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.
Bond Wolfe is aiming to raise more than £1.75m with the sale of six commercial ground rents on behalf of Birmingham City Council in its upcoming auction.
The six lots will lead the auction on 30 March:
A freehold commercial ground rent secured on a two-storey premises at 128 Hockley Hill, Birmingham. The property has a 75-year lease from June 1975 at a ground rent of £6,500. A guide price of £250,000+.
292 Upper Balsall Heath Road, Birmingham, which has a 99-year lease from August 1981 at a ground rent of £13,000pa. A guide price of £425,000+.
124 Emily Street, Birmingham (pictured), has a 99-year lease from July 1981 at a ground rent of £10,000 per annum. A guide price of £325,000+.
The premises at Auckland Road and Krywicks Lane, Birmingham, has a 99-year lease from July 1986 with a ground rent of £12,250 per annum. A guide price of £425,000+.
Radnor House, Radnor Street, Birmingham, has a 99-year lease from September 1978, and a ground rent of £5,000 per annum. Guide price £200,000+.
The final Birmingham City Council lot is 11 Pentos Drive, Birmingham, which is subject to a 99-year lease from 1987 and has an annual ground rent of £200. A guide price of £125,000+.
Ron Darlington, consultant director at Bond Wolfe, said: “Commercial ground rents are growing in popularity as sound assets delivering solid returns – something to reflect on in troubled times.
“This is a valuable and varied portfolio of such assets and we are very pleased, once again, to be instructed to sell these further lots on behalf of Birmingham City Council.”
The Birmingham City Council lots are among 199 that will appear in Bond Wolfe’s 30 March auction. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.
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