Iconic former water tower in Rugby is going under the hammer with guide price of £95,000

An iconic former water tower in Rugby is going under the hammer.

Ashlawn Water Tower, owned by Severn Trent, is being sold at auction on November 23.

The eye-catching structure sits on 0.99 acres of open countryside and currently generates income from 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.

Oliver Childs, Managing Director at BidX1 UK, said: “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, said: “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.”

Tesni said the combination of the rural backdrop, existing income stream and potential for redevelopment create rare and unique opportunities for forward-thinking buyers.

Interested parties can view on https://bidx1.com/en/en-gb/auction/property/92208