The latest – and largest – of a string of potential development sites near the Worcestershire village of Hagley is coming up for sale at Bond Wolfe’s next auction.
The 17-acre plot on Pedmore Lane, Pedmore, between Stourbridge and Hagley, will have a guide price* of £99,000+ in the livestreamed auction on Thursday 14 December.
But, on previous evidence, the final price is likely to be far higher for such a large site near the popular village of Hagley – a highly desirable address popular with Birmingham commuters.
A string of smaller plots in the area have all performed well at previous Bond Wolfe auctions.
A freehold site extending to approximately 1.04 acres at Pedmore Hall Lane, Pedmore, with a guide price of £10,000+ sold for £154,000 in October’s auction, while a nearby parcel of 9.9 acres with an £89,000+ guide price sold for £174,000.
In September, competitive bidding saw a 7.4 acre parcel of land off Pedmore Hall Lane, with a guide price of £69,000+, eventually sold for £242,000.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “We are attracting a global audience to our livestreamed auctions, which means investors from both home and abroad recognise the auction ‘room’ as a significant source of opportunities.
“As a result, sites like this in a popular area are attracting a lot of interest. Its size and location makes this plot highly attractive to developers and investors seeking sites with potential. This is the biggest of the sites so far brought to auction and we expect competition to be intense on auction day.”
The latest freehold parcel extends to approximately 17.6 acres and could be suitable for a variety of uses, subject to obtaining the necessary planning consents.
“All interested parties should make their own enquiries to the local planning authority; Dudley Council,” said Mr Bassi.
The land lies on the edge of Hagley, which offers a wide range of local amenities and easy road links to Birmingham, Worcestershire and Bristol. The area also has an excellent choice of both state and private schools.
The auctioneers has advised that a member of Bond Wolfe has a vested interest in the land.
The plot of land at Pedmore is just one of 156 lots that are appearing in Bond Wolfe’s next auction, which will start at 9am on Thursday 14 December.
If you have a property you are considering selling, visit https://www.bondwolfe.com/free-property-appraisal/ email [email protected] or call 0121 312 1212 or 01902 928 510 for advice or to arrange a free no obligation valuation.