A plot of land in Wednesbury with planning permission for three homes is set to go under the hammer at Bond Wolfe’s next auction on Thursday 15 September.
The freehold residential development site is on an vacant plot of land previously at 18-19a Holden Road, in Wednesbury. It is listed for auction with a guide price* of £180,000+.
Colin Totney, land and development specialist at Bond Wolfe, said: “Wednesbury and the surrounding area has seen a dramatic surge in property prices over recent times, making this a highly attractive small development for a wide range of potential investors.
“At a time when demand for new homes continues to far outstrip the supply, this site offers a superb opportunity for a housebuilder or developer. It sits in an established residential area and was granted planning permission for three houses in March 2021.
“There is even an alternative project on the books, with a previous scheme for five two-bedroomed apartments granted in November 2019.
“This is clearly a site with potential and we expect highly competitive bidding when it comes up for sale at our auction on 15 September.”
The houses that originally sat on the land are understood to have been demolished by the local council in 1995 and the site, extending to about 0.12 acres, has been unused ever since.
Broadly rectangular in shape, it was granted planning permission by Sandwell Council in March 2021 for the development of a trio of three storey, three-bedroomed houses, each with parking for two vehicles.
The previously approved plan, in November 2019, was for a three-storey block of five two-bedroomed apartments with associated car parking.
Mr Totney added: “With our livestreamed property auctions we are attracting interest from investors from across the UK and overseas, as well as from the West Midlands. Developers and builders are looking for the right site at the right price, and they know that is what they will find at our auctions.”
The Holden Road site is among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 9.30am on 15 September. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
