£75,000 profit made on Burntwood health centre sale
An investor has scooped a £75,000 profit in just two months by selling a former NHS health centre in Burntwood.
The 5,400sq ft complex sits on almost a third of an acre of land in Hudson Drive and has been empty since last year, when the medical practice moved to the new £3.4 million Greenwood Health Centre on nearby Lichfield Road.
The private investor acquired the site from a leading London-based auction house’s sale in December for £415,000.
It was offered in Bond Wolfe’s February auction with a guide price of £400,000 and sold for £490,000.
Ian Tudor, joint managing director auctions at Bond Wolfe, said: “We knew there would be strong interest in this lot because it is a site that clearly suitable for a variety of alternative uses, including residential development, subject to planning permission.
“It stands within a popular and well-established residential neighbourhood so was likely to prove highly attractive to a range of developers and investors. Working with Lichfield District Council, this redundant site could be regenerated as a high-yielding property investment.”
