0 bed Land (for sale) The Former Pheasant Inn, 273 Abbey Road, Warley, Smethwick, West Midlands B67

£1,750,000
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Cottons Auctions
Cavendish House, 359-361 Hagley Road, Edgbaston, Birmingham
0121 659 7981
First Published

11th May 2022

Last Published

13th May 2022

 

Features

  • Type: Land
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Guide Price = £1,500,000 - £1,750,000 + 20% Vat

Property for auction on 25th May at 13:00 at Avery Fields, 79 Sandon Rd, Birmingham B17 8DT - Public Auction including Live Stream & Telephone Bidding.

Property Description:
A residential development opportunity occupying a site formerly known as the Pheasant Public House extending to an area of Circa 1.53 Acres and prominently situated at the junctions of Abbey Road and Pottery Road in the popular residential suburb of Warley.

The plot itself is roughly rectangular in shape and comprises of two separate elements:
Firstly - the former public house which is in a derelict condition and has Planning Consent for demolition providing an opportunity for redevelopment of the site thereafter.
Secondly - the site to the rear of the public house which is accessed off Pottery Road and is officially registered The Woodlands B68 9BA, having Planning Consent for the development of 14 semi detached dwellings with estate road and landscaping.
With the exception of the public house the site has been cleared pending redevelopment.

The site is located in a popular and well regarded residential area conveniently within a quarter of a mile from Warley Woods Park, half a mile from Wolverhampton Road (A4123) which provides direct access to the town of Dudley and City of Wolverhampton, one mile from Bearwood Shopping Centre and four miles to the west of Birmingham City Centre.

Planning:
The Former Pheasant Public House
Planning Consent was granted by Sandwell Metropolitan Borough Council on the 26th of November 2021 (Ref: Pd/21/01948) for the proposed demolition of the Pheasant Public House.
Following demolition, the site provides additional redevelopment opportunities and agents on behalf of

the seller have prepared and submitted a Pre-App for this site detailing a scheme of 6 x 3 bedroom townhouses and 11 x one /two bedroom apartments. This document is available on our website and all interested parties should make their own enquiries regarding the viability of the scheme.

The Woodlands Development
Planning Consent was granted by Sandwell Metropolitan Borough Council on the 10th of January 2020 (Ref: DC/19/63479) for the proposed development of 14 no. 3 bedroom dwellings with associated access works and landscaping to include alterations of the existing pub car park. The Woodlands Development has a cil liability of £41,462 with no affordable housing requirement.

The Woodlands Development comprises 14 semi-detached houses of modern two storey construction with the following house types:

Type 1: (Wayside) Quantity - 7
Each with:
Ground Floor
Dining Kitchen, Cloakroom with WC, Living Room
First Floor
Master Bedroom with en-suite shower room, Bedroom 2, Bedroom 3, Bathroom
Total Floor Area: 81sq.mtrs (873 sq.ft)

Type 2: (Greenacres) Quantity - 5
Each with:
Ground Floor
Dining Kitchen, Cloakroom with WC, Living Room and Integral Garage
First Floor
Master Bedroom with en-suite shower room, Bedroom 2, Bedroom 3, Study and Bathroom
Total Floor Area: 93sq.mtrs (1002 sq.ft) (excluding garage)

Type 3: (Oaklands) Quantity - 2
Each with:
Ground Floor
Dining Kitchen, Cloakroom with WC, Living Room
First Floor
Master Bedroom with en-suite shower room, Bedroom 2, Bedroom 3, Bathroom
Total Floor Area: 80sq.mtrs (860 sq.ft)

Further details of the development of are available on the the Auctioneers Website and full planning details are available on Sandwell mbc website
Note: The site is held in a Special Purpose Vehicle (spv) as the sole asset. Whilst the auction sale is for the site contained within Land registry tile No. WM737837, following exchange of contracts, the buyer can choose to purchase the site within the spv which will provide the following benefits:
1. No VAT payable on purchase price.
2. Stamp duty will be 0.5% of the purchase price.
All details will be available within the legal documents and interested parties should seek professional advice prior to bidding.
Legal Documents at
Viewings Via Cottons

 

Local info for B67

 

Property Value Data/Graphs for B67

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Terraced house 54.4% £209,810 2.7 1.1
Semi-detached house 24% £244,963 3.2 1.2
End terrace house 8.8% £221,359 3.1 1.2
Detached house 7.2% £323,878 3.7 1.9
Maisonette 1.6% £117,500 2 1
Flat 1.6% £70,000 2 1
Detached bungalow 0.8% £290,000 4 2
Other 0.8% £220,000 3 3
Bungalow 0.8% £260,000 4 0

Area Information

Average Price Paid

£183,074

Sales

1950

Current Average Value

£224,887

Value Change

£41,813 22.8%

 

Current Asking Prices in B67 Average: £224,887

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses - £186,122 (27) £222,847 (81) £346,106 (9) £356,667 (3)
Flats - £93,750 (4) - - -
All - £174,203 (31) £222,847 (81) £346,106 (9) £356,667 (3)

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7 bed Detached house () Bradford Lane, Belbroughton, Stourbridge, Worcestershire DY9 £4,500,000
6 bed Detached house () Woodbourne Road, Edgbaston, Birmingham B17 £4,000,000
6 bed Detached house () Roman Road, Little Aston, Sutton Coldfield B74 £2,950,000
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