In a historic move, Severn Trent Water is offering five former reservoir plots in Derbyshire, Shropshire and Worcestershire for sale by online auction on 11th February. Subject to planning permission, these sites have the potential to provide stunning homes in picturesque settings and buyers have a unique opportunity to snap them up with the click of a mouse! Guide prices for the lots are all in the region of £20,000.
Oliver Childs, head of LSH Auctions, which is selling the sites through its online property portal, explains: "Anyone can bid on our online platform without having to travel to an auction room or face the daunting prospect of bidding in public. You just need to register as a bidder on the site prior to the auction starting.
“The former reservoir sites are rurally located and in recent years, similar assets have been sold that have been converted to private dwellings. There is a continued shortage of development opportunities in the UK and these sites are ideal for entrepreneurial buyers.”
Adam Tustain, portfolio manager for Severn Trent Water, comments: “We are keen to explore all modern tools available for disposal to achieve the best outcome for customers and shareholders.”
The online auction is available HERE
How the online auctions service works:
Bidding opens: 10:00 10 February
Bidding closes : Staggered from 11:00 11 February
Pre-registration will be required in order to bid, together with a hold on funds payable as a deposit on a credit card (typically no more than £5,000 per site).
If a bid is received within the last two minutes of the sale period, once this two minutes has expired, a new two minute window will appear and immediately after a new bid is received thereafter, the bidding period will be immediately extended by another two minutes - and so on until no more bids are received.
The site will be sold to the highest bidder at or above the reserve price.
Completion period is 20 business days
Individual properties can be viewed here...
Posenhall Reservoir, Benthall Lane, Posenhall, Broseley, TF12 5BD
Freehold covered reservoir site
Potential for alternative use
0.37 acres (0.15 hectares)
Vacant possession
Melbourne Common Reservoir, The Common, Melbourne, Derby, DE73 7LL
Freehold covered reservoir site
Potential for alternative use
0.28 acres (0.11 hectares)
Vacant possession
Redundant reservoir and land at Boam Lane, Hackney, Matlock, DE4 2PZ
Freehold covered reservoir site
Potential for alternative use
0.51 acres (0.21 hectares)
Vacant possession
Redundant reservoir and building, Bog Lane, Melbourne, Derby, DE73 8HU
Freehold covered reservoir site
Potential for alternative use
0.48 acres (0.19 hectares)
Let to an individual on a licence producing £1,200 per annum
Stonehall Reservoir, Stonehall Common, Kempsey, Worcester, WR5 3QG
Freehold covered reservoir site
Potential for alternative use
0.20 acres (0.08 hectares)
Vacant possession
http://www.lsh.co.uk/commercial-property-news/2016/january/first-properties-to-be-sold-by-lambert-smith-hamptons-online-auction-platform-are-now-live
