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55-57 High Street, Bromsgrove, Worcestershire, B61 8AJ
Development Land - Worcestershire
55-57 High Street, Bromsgrove, Worcestershire, B61 8AJ
For Sale
£495,000+
Key Features
Development Land - Worcestershire
Guide price £495,000+
Status: For Sale
Tenure: Freehold
Current published income £58,120 pa
Preferred strategy: Development
HB risk level: High
Description
An attractive freehold town centre mixed use investment, comprising a spacious retail unit let to 'Holland & Barrett' and four well presented apartments above. Current rental income £58,120 PA. * (See Tenancy Details) Addendum: current rental income is £58,120 p.a.; Flat 4 tenant has served notice and is due to vacate on 15 October 2026.
Location
55-57 High Street, Bromsgrove, Worcestershire, B61 8AJ Full listing coordinates are used for mapping: 52.335041, -2.061235.
Investment Analysis
Investment Snapshot
Guide Price | £495,000+ |
Likely Purchase Range | £495,000–£535,000 |
Approx. Size | 188 m² |
Tenure | Freehold |
Refurbishment Budget | £10,000–£35,000 |
Purchase + Works | £505,000–£570,000 |
Current Published Rent | £58,120 pa |
Current Gross Yield at Guide | 11.7% |
HB Estimated Market Rent | £4,600–£5,800 pcm |
HB Estimated Annual Rent | £55,200–£69,600 pa |
Gross Yield at Guide | 11.2%–14.1% |
Gross Yield on Total Cost | 9.7%–13.8% |
Estimated GDV / Value | Not established without specialist appraisal |
LHA Benchmark | Not established in this pass; use the relevant BRMA where strategy warrants it |
Suggested Strategy | Development |
Risk Level | High |
Analysis Confidence | Low |
Works Required
Planning/title review
Topographical/ground investigation
Access and utilities review
Professional fees / viability study
HB working works allowance: £10,000–£35,000. This is based on the auction description, accommodation and visible condition indicators; replace it with surveyor/contractor evidence before bidding.
Rental & Market Context
The auctioneer/addendum states current income of £58,120 p.a. This is approximately 11.7% gross on the current guide. HB's working market-rent range is £4,600–£5,800 pcm (£55,200–£69,600 p.a.). Compare the market range with the existing tenancy terms before assuming any uplift.
Sold within 5m radius
Reliable recent like-for-like sold comparables were not established from the supplied scrape for this individual property. No comparable addresses or prices have been invented. Before bidding, verify the HB end-value range against HM Land Registry / current local sold evidence, matching property type, size, tenure, condition and micro-location.
GDV Assessment
A defensible GDV is not stated because this lot requires a specialist commercial/development appraisal or a costed planning scheme. Assigning a residential GDV would be misleading.
Strategy Recommendation
Preferred strategy: Development. The working purchase range is £495,000–£535,000 and the works allowance is £10,000–£35,000. The key question is whether the legal pack, condition and local market evidence support the income/end-value assumptions without exhausting contingency.
Potential BRRR Position
Standard BRRR is not appropriate. Model planning probability, development finance, build costs, professional fees, statutory contributions and completed-scheme value.
Flip Analysis
A responsible flip margin cannot be calculated without a defensible end-use/valuation basis.
Development Analysis
Confirm planning status, red-line boundary, access, utilities/drainage, CIL/S106, ground conditions and professional fees. Derive land value backwards only from a fully costed scheme.
Commercial / Mixed-Use Analysis
Review passing rent/ERV, lease length, tenant covenant, repairs, VAT, business rates, service charges, vacant possession and lender criteria. Appraise residential and commercial elements separately where mixed use.
Investor Risks & Due Diligence
Addendum: current rental income is £58,120 p.a.; Flat 4 tenant has served notice and is due to vacate on 15 October 2026.
Read the complete Bond Wolfe legal pack and special conditions, including buyer/admin fees
Verify title, tenure, lease length, tenancy agreements and vacant-possession status
Replace HB works assumptions with surveyor/contractor pricing
Confirm mortgage/bridging and insurance availability for the exact asset type
Re-check local rents and property-level sold comparables immediately before bidding
Maximum Bid Analysis
A defensible maximum bid requires a specialist valuation or costed development/commercial scheme. Do not derive it from the guide alone.
Recommendation
Overall HB view: Development. Risk level: High; analysis confidence: Low. The principal sensitivities are planning/site costs. Proceed only if legal and physical due diligence supports the assumptions and leaves adequate contingency.
Strategy Rating
Development: ★★★★☆ | Income: ★★☆☆☆ | Resale: ★★★☆☆
Research Sources
https://www.bondwolfe.com/auctions/properties/362046-property-auction-bromsgrove/ | https://www.bondwolfe.com/auction/3451/ | https://www.bondwolfe.com/addendum/
Auction Details :
Bond Wolfe
Auction Date :
10/09/26
Lot Number :
025
Property Location:
55-57 High Street, Bromsgrove, Worcestershire, B61 8AJ
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