An art deco tower in Nottinghamshire with planning consent to be converted into 13 apartments is one of the properties due to go under the hammer at Bond Wolfe Auctions’ September sale.
The 26m tall building, located near Newark, is being offered with a guide price of just £75,000 after it was unsuccessfully offered for sale at auction by SDL Auctions’ Graham Penny in April for £130,000.
Known locally as “the water tower”, the building, which sits on 0.37 acres of land on Goldstraw Lane in Fernwood, has planning consent for two apartments in the existing tower, three new-build flats next to the tower and a further eight apartments in two courtyard blocks.
Work started on building the original water tower in the 1930s, but this was halted by the Second World War and it was not finished until 1957. It became a familiar landmark on the former Balderton Hospital site but has remained vacant for the past 50 years.
“While this iconic water tower site requires substantial investment, it has approved plans for what is an impressive development opportunity,” said Gurpreet Bassi, chief executive of Bond Wolfe Auctions.
Bond Wolfe’s next auction will take place at Aston Villa Football Club on 10 September.
