Shropshire Star

Nil reserve price for Ironbridge Gorge land

A rare plot of freehold land on an historic site in Shropshire is appearing with a nil reserve price at a property auction in Birmingham

Published
The Wynde in Coalport Road

The site known as The Wynde is on the Coalport Road in Madeley and forms part of the Ironbridge Gorge world heritage site.

It is being sold at Bond Wolfe Auctions’ next auction at Villa Park on Wednesday, July 3.

Gupreet Bassi, chief executive of Bond Wolfe Auctions, said: “It’s highly unusual to start auction lots with a reserve price of nil and we’re expecting intense interest in the auction room on the day.

“This land has been given the rock-bottom reserve price of nil because it’s currently occupied by the derelict remains of a two-bedroom, detached bungalow, accessed via a footpath.

“The land could be suitable for a variety of uses, offering the potential either for redevelopment of this building or various other developments, subject to planning permission.”

Mr Bassi explained that while reserve prices of nil meant that there was no minimum price, prospective owners would still have to pay the standard auction administration fee of £1,074 including VAT.

The property is one of 120 lots in the auction at Villa Park.