Surprising £60,000 price contrast bewteen neighbouring Great Barr houses heading to auction - here's the reason
Two neighbouring houses in a Birmingham suburb are heading to auction with strikingly different guide prices.
In Bond Wolfe’s next livestreamed auction, taking place on Thursday, February 5, a three-bedroom semi-detached house at 114 Dorrington Road, Great Barr, will carry a guide price of just £19,000+.
Just a few doors away, at number 110 on the same road, another three-bedroom semi-detached house – similar in size and appearance at first glance – has been listed with a guide price of £79,000+.
The reason for the stark contrast lies beneath the surface. Number 114 is a leasehold property, with only 11-and-a-half years remaining on its original 99-year lease, while number 110 is freehold.
In addition, number 114 requires modernisation throughout, although it does benefit from double glazing, gas central heating and a detached garage to the rear.
The accommodation at number 114 comprises a porch leading to a hallway, through reception room, kitchen and side lean-to on the ground floor, with three bedrooms and a shower room upstairs. By comparison, number 110 offers a porch, hallway, reception room, kitchen and dining area downstairs, with three bedrooms and a bathroom on the first floor, as well as gas central heating and double glazing.
Both properties are set back from the road, elevated behind front gardens, with further gardens to the rear.
Gurpreet Bassi, chief executive of Bond Wolfe, said the contrasting guide prices illustrated the breadth of opportunities available at auction.
“These two properties are virtual neighbours, and yet their differences are typical of the range of homes we bring to market,” he said. “Great Barr is a popular suburb on the northern edge of Birmingham, particularly with families, and we expect strong interest from owner-occupiers and buy-to-let investors alike.”
Several other Great Barr properties are also included in the auction. They include a three-bedroom mid-terraced house at 101 Spouthouse Lane, with front and rear gardens and a guide price of £59,000+, and a three-bedroom semi-detached house at 57 Dyas Avenue, listed at £69,000+, both requiring modernisation.
Another semi-detached property at 66 Gorse Farm Road, needing renovation, has a guide price of £89,000+.
The five Great Barr homes form part of around 180 lots in Bond Wolfe’s February auction, which will be livestreamed from 8.30am. For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/, email auctions@bondwolfe.com or call 0121 312 1212 or 01902 928 510.
