Two-bed homes in the Black Country and Staffordshire for £19k

Its enough to make an estate agent in London shiver.

Two-bed homes in the Black Country and Staffordshire for £19k

Homes in the Black Country and Staffordshire going under the hammer for as little as £19,000.

At a time when property prices are shooting through the roof – an auction this week reveals there are plenty of bargains still in the region for those preparing to redevelop.

As well as the cheap properties, there are also iconic sites up for sale including the Cradley Heath Labour Club and the Bank House building in Stafford.

In need of tender loving care – Cradley Heath Labour Club is among lots with a £125k guide price
Bank House on Salter Street, Stafford, has a guide price of £275,000

The auction, set for this Thursday at the Holte Suite at Aston Villa Football Club, is being run by CP Bigwood.

With 153 lots on offer, this will be the biggest auction the company has ever held.

With guide prices of £19,000, two Black Country properties are the cheapest going under the hammer.

A two bedroom property at 20 Hereford Street in Walsall is expected to fetch between £19,000 and £24,000. On top of the two bedrooms, there are also two reception rooms, a kitchen, a bathroom and a garden.

It is located a short drive from Reedwoods Park and Retail Park, and has two schools right around the corner.

A quick online search for a two bedroom property in London for under £20,000 does not turn up any results.

A two bedroom property at 47 Lewis Street in Bilston is expected to fetch the same price as the one in Walsall. But as well as boasting two reception rooms, a kitchen, bathroom and garden, the Wolverhampton property also has an under-stairs store, a rear lobby and a utility room.

47 Lewis Street in Bilston is a snip at just £19,000 with two bedrooms, two reception rooms, kitchen, bathroom and garden

It is located round the back of Bilston Library and Bilston Craft Gallery and is just round the corner from popular gig venue The Robin 2.

Searching on property website Zoopla, the cheapest available property in London with a minimum of two bedrooms is a three-bed house boat at St Katherines Docks for Not surprisingly, the £65,000 boat does not have two reception rooms, a rear lobby, a utility room, an under stairs store or a garden.

Other cheap properties going under the hammer on Thursday include a rundown three-bedroom building at Chester Street in Wolverhampton with a guide price of £20,000 and some land in West Bromwich at Grenville Place, off Stour Street, which is expected to fetch between £20,000 to £25,000.

In Stourport, popular tea room and bistro The Windlass is up for sale.

Is this your cup of tea? The Windlass is listed for between £10k to £20k

Located at 1 Severnside, the two storey cafe has an open-plan dining area with space for 42 covers inside and a further 30 outside.

A note on CP Bigwood's auction site says that the Windlass business will be unaffected by the outcome of Thursday's auction, where it is estimated to fetch between £10,000 and £20,000.

But even more surprising than the price is that the Windlass is not the only tea rooms in Stourport going under the hammer.

Blossoms Tea Rooms in Bewdley is valued at £80,000-£100,000

Blossoms Tea Rooms, located at 18 York Street, is also up for sale. Buyers have been advised that the owners of the building will receive £10,000 per year in rent from Blossoms and as such its valuation is listed between £80,000 and £100,000 for the auction.

Properties in Wolverhampton and Walsall dominate the listings. Excluding Bilston's £19,000 two-bed, there are nine more properties in Wolverhampton that have a guide price of under £50,000. This includes three, three-bedroom homes in Low Hill up for between £44,000 and £48,000 and a three-bed semi-detached property on Veronica Avenue in Parkfields estimated at £24,000.

It's got potential – Veronica Avenue in Parkfields at £24k

In Walsall, there are six properties potentially available for less than the £50,000 mark.

This includes a property in Tennyson Road in Willenhall which is earmarked for 'in excess of £40,000' and a flat in Persehouse Street where the guide price is £24,000.

In the borough there is also 4.2 acres of land up for grabs off Sutton Road and Skip Lane estimated at between £50,000 and £60,000.

Other value properties across the Black Country include a well presented three-bedroom semi-detached home in Wednesbury. The property, on 30 Sycamore Road, boasts a porch, hall, reception room and a kitchen and upstairs is a landing, three bedrooms, shower room and separate toilet.

Despite all of this, the property is only listed by CP Bigwood for between £39,000 and £44,000.

In Dudley, there is a three-bed detached property with a garage going under the hammer, with a guide price of £29,000.

The Yew Tree Hill site is not the only cheap home in Dudley inviting bids – on New Road there is a second three bed estimated at £40,000.

A third home in Dudley, on Tanfield Road, has a guide price of £59,000-£69,000, while a fourth on Tenacre Lane is listed as 'in excess of £55,000'. There are also homes in Oldbury, Coseley, West Bromwich, Tividale and Tipton all listed at under £75,000.

Asked about whether he expected the lower valued homes to be snapped up because of their price, Jonathan Hackett, the head of auctions for CP Bigwood simply said: "Yes."

He added: "It isn't rare to have lots guided as low as this in the Wolverhampton area or other areas in the West Midlands. Our clients reserve prices will not exceed the guide prices however due to the level of interest we would expect to achieve higher prices than the guides.

"We are expecting for the low priced properties to attract the most interest and this is being shown in the level of viewings we are having."

On the opposite end of the scale, the most expensive property in the Black Country and Staffordshire going under the hammer on Thursday is the Hollins Business Centre on Rowley Street in Stafford. Auctioneers have listed it for £350,000 to £400,000.

Auctioneers have Hollins Business Centre, Stafford, listed for £350,000-£400,000

The four-storey building, constructed in the 1880s, currently has 19 businesses in place paying a total of £58,268 rent per year. But it is believed the annual rent could rise to £108,000 with nine more office spaces currently sitting vacant.

The whole building is approximately 10,584sqft.

Also up for sale in Stafford is the iconic Bank House on Salter Street. The two storey building currently houses Bean Encounter, a coffee bar with an American food menu, but has an empty second floor.

Bean Encounter pay £23,000 a year in rent, while it is estimated the second floor could be rented out for £8,400 a year, making the whole building capable of bringing in £31,400 a year.

The building, which is just under 2,000sqft in total, is going under the hammer at £275,000.

Staffordshire dominates the higher end property list with a total of six all going for over £100,000, including one for 'in excess' of £275,000.

Four of the six properties are in Lichfield, including 'The Grange', 'The Bungalow' and 'Huddlesford House' which are all located in Huddlesford. The Grange is the most expensive of the three, with a guide price of £275,000.

The Grange in Lichfield is one of the most expensive at £275k

The three-bed home is a barn conversion and boasts a large paddock area as well as a lounge, reception room, utility room, three bathrooms and a double garage.

The Bungalow, which aptly is a bungalow, has two bedrooms and has a £137,000 guide price.

But it might be the three-story five-bedroom Huddlesford House which attracts the most interest come Thursday.

The house, which is listed at £128,000, cheaper than its two neighbouring properties, also boasts two reception rooms, two bathrooms, a kitchen/dining room and a separate utility as well as a 1.1 acre garden.

The fourth Lichfield property is the former Bell Bridge Garage on Rykneld Street, which has a £137,000 guide, while two more homes in Staffordshire which are expected to fetch over £100,000 are both on New Road in Handsacre.

Land is also up for grabs in Staffordshire including the rent of the former Hednesford Canal Basin.

For between £5,000 and £10,000, you can get yourself one acre of land off Long Street in Wheaton Aston, adjacent to the Shropshire Union Canal, on a lease of around 250 years from Cannock Chase District Council.

Back in the Black Country and the historic Cradley Heath Labour Club is going under the hammer with a guide price of £125,000 to £150,000. The club, which is nearly 7,000sqft, has been derelict for a number of years.

In need of tender loving care – Cradley Heath Labour Club is among lots with a £125k guide price

In Wolverhampton, there is a property up for grabs with a guide of £220,000, which has planning permission for six apartments, and there is a former office off St Judes Road expected to go for around £100,000.

The most expensive property in Wolverhampton is a four-bed three-story home on Merridale Road in Bradmore. With an entrance porch, hall, through lounge, dining room, fitted breakfast kitchen, utility, three bathrooms and front and rear gardens, auctioneers have set a guide price of £250,000.

Higher end – Merridale Road, Bradmore is listed for £250,000

Dudley, Walsall, Oldbury all also have pricier homes up for sale but for the Black Country its Stourbridge which dominates the high-end listings.

These newly-built homes in Stourbridge are also under the hammer

The town has four newly-built five-bedroom homes adjacent to each other in Amblecote all with a guide price of between £220,000 to £240,000. This is on top of 0.62 aces of land off Stourbridge Road which is expected to fetch between £160,000 and £180,000.

Speaking ahead of Thursday's auction, Mr Hackett said: "We are thrilled at being able to put together so many great deals. Our 2015 auctions saw sale rooms packed and we are expecting another full house."

A full list of the properties are available at www.cpbigwood.com/

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