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Big property sell-off planned by Severn Trent Water

SEVERN Trent Water is set to raise millions of pounds through the sale of unwanted properties across its large region.

SEVERN Trent Water is set to raise millions of pounds through the sale of unwanted properties across its large region.

The first 50 of more than 420 sites earmarked for disposal over the next 18 months are due to go on the market in the next few days.

The sites, which are no longer regarded as necessary for the utility’s core business activity, range from small plots of land and redundant pumping stations to water towers and disused reservoirs.

They will be sold by auction or private treaty, with the first sale expected in early July.

Sites in the West Midlands up for sale include Ullenhall Reservoir, a sewage treatment works at Hatton and Tile Hill Water Tower at Burton Green, near Coventry.

Severn Trent’s region stretches from mid-Wales to Rutland and from the Bristol Channel to the Humber.

Ted Pearce, Severn Trent’s director of property services, said: “As all the sites are now surplus to requirements, it makes sense to rationalise our property portfolio so we concentrate on our operational sites.

“These first 50 properties are mainly smaller ones with likely values of between £25,000 and £50,000 - the sort of thing you’ll buy to add to your garden. They pose an opportunity for buyers to improve their own properties, or for smaller investors looking to increase their land holdings.”

Severn Trent said the disposal programme had already attracted considerable attention from prospective private buyers, with more than 600 expressions of interest having been received.

King Sturge, Savills (Nottingham), Shonki Brothers and Hall & Co are handling properties scheduled for auction, while Knight Frank is dealing with private treaty deals.

Anyone wishing to register an interest in the portfolio can do so by going to propertydisposals@severntrent.co.uk

 

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