London, 30th October 2023 – BidX1, the online auction specialist, has been appointed by Severn Trent Water to sell two freehold water towers at the firm’s upcoming auction on 23rd November.
The eye-catching structures, which are situated in picturesque rural locations in Rugby and Stourport-on-Severn, are both generating income from telecommunications masts mounted on their summits.
Ashlawn Water Tower sits on 0.99 acres of open countryside near Rugby in Warwickshire. The tower and site are currently vacant, while masts on the summit are let via two separate leases to telecommunications companies, generating approximately £31,000 per annum.
The tower itself is striking, comprising a circular concrete core topped by a large drum-shaped container which can hold 500,000 gallons of water. Dating from the 1930s, the tower is being offered with a Guide Price of £95,000.
The second structure, Bishops Wood Water Tower in Stourport-on-Severn, is situated in a wooded compound extending to 0.88 acres. Both the tower and the site are vacant, while masts surmounted on the top are let to a telecommunications company, producing approximately £12,500 per annum.
BidX1 have listed Bishops Wood Water Tower with a Guide Price of £50,000.
Oliver Childs, Managing Director at BidX1 UK, commented: “We’re delighted to be acting for Severn Trent on the sale of these distinctive landmarks. The buyer will benefit from immediate passive income but these properties also offer exciting development potential – a change of use to residential would provide an incredible opportunity for an entrepreneurial investor to create a one-of-a-kind home in a picturesque country setting.”
Tesni Thacker, Property Disposals Manager at Severn Trent Water, commented: “At Severn Trent it is our goal to ensure that we are disposing of redundant assets in a responsible manner and maximising their potential for future use. The combination of the towers’ rural backdrop, existing income stream and potential for redevelopment create rare and unique opportunities for forward-thinking buyers.”
Interested parties can view the properties and register for the online auction at the following links:
The full auction catalogue is available here. As with all BidX1 sales, bidding on the day will be shown in real-time on the platform, so viewers will be able to watch the auction live.
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