With the additional potential of receiving a council redevelopment grant of between £15,000 and £30,000, this is a great investment opportunity at a target price of over £59,000.
It would also probably be easier to cool off at the former Allestree Methodist Church in Derbyshire, a large and imposing former place of worship with over 2,000 square feet of indoor space.
Originally built circa 1895, the property is one storey and is in a very popular location with a wide range of amenities nearby. There is potential for residential or commercial conversion subject to obtaining the appropriate building permits, making the guide price of over £155,000 incredibly attractive.
Another rare and unique opportunity is also available in Derbyshire, this time with Rough Heanor Farm. This is a sizeable former Georgian brick farmhouse set in just over 10 acres of land with a number of outbuildings. After partial restoration, the building retains a number of its original features and requires further improvements and modernization.
The property has real potential to be developed into a wonderful family home full of character whilst the grounds of the property also offer additional development opportunities and is being offered at a guide price of over £685,000.
A slightly smaller characterful cottage is in Brent in Devon as 2 Church Street comes up for auction. This two bedroom townhouse is situated in the town center and close to all the necessary local amenities and services with the added benefit of being on the southern edge of Dartmoor National Park. With some period features such as barn doors and a stone fireplace, this is a real opportunity at a guide price of over £134,000.
Managing Director and Auctioneer Andrew Parker says: “The beauty of auctions is how we are able to bring such a wide range of properties to market and this month is no different. With holiday homes, churches and historical pieces all going under the hammer, it’s sure to be an exciting sale this July.”
These are just a few of the opportunities for sale through SDL Property Auctions in July, with the July National Property Auction offering a wide range of homes, apartments, commercial property, land and more to suit every need and budget.
The National Property Auction on Thursday 28th July will be streamed live via SDL Property Auctions with online, telephone and proxy bidding. Bid registrations must be submitted before midday on Wednesday, July 27 by clicking here. For more information on any of the properties click here or call the team on 0800 046 5454.
Allsop launches Resi bumper catalog ahead of August sale
Allsop released its residential property auction catalog in August with 200 lots – showing a 25 per cent increase in the number of assets on offer since this time last year.
The new catalog offers potential buyers a variety of investment and development opportunities across the country, including a diverse mix of homes, apartments, leasehold investments and mixed-use plans.
Highlights of the sale include:
Lot 118: two freehold buildings containing fifteen studio apartments in Kentish Town, London. Each apartment in the building is on a committed short-term lease with a total rent of £151,082 per annum and the property is valued at £2.1-2.2m
Lot 41: a freehold terraced building with planning permission for conversion into eight self-contained studios in Windsor, Berkshire with a current total annual rent of £93,780 estimated at over £1.85m
Lot 80: a detached garage and workshop with planning permission for the construction of a block of seven self-contained apartments above a Class E commercial development in South Wimbledon, London, at an estimated value in excess of £1.5m
Lot 33: two adjacent owner-occupied HMO semi-detached houses totaling 3,923 sq ft in Redhill, Surrey with an estimated valuation of over £1.2 million
Richard Adamson, Partner and Auctioneer at Allsop, comments: “Allsop’s August home auction catalog has been eagerly awaited by potential buyers from across the UK and beyond, with over 200 properties on offer – a 25% increase in the number of lots compared to the previous year August 2021.”
“The new catalog offers an extensive range of attractive investments and numerous development opportunities. Despite rising inflation, the cost of living crisis and political turmoil at national and international level, the housing market continues to develop steadily and we expect a busy few weeks until the August 4th auction.”
Allsop’s next home auction will take place online on 4th August 2022 and the full catalog can be viewed here.
Bond Wolfe launches the distinctive Cambrai Court
Bond Wolfe, already enjoying a record in the first half of the year, has been ordered to sell a sizeable Edwardian office building in Hall Green and is seeking offers for £2,950,000.
James Mattin, Managing Director Agency at Bond Wolfe, comments: “Cambrai Court at 1229-1235 Stratford Road is a distinctive building – a stunning piece of Edwardian architecture and as an investment it offers numerous opportunities for any potential buyer.”
The property is currently operating as a large office complex with multiple rental apartments in five buildings but would lend itself to a variety of configurations.
It totals approximately 10,259 square feet over 0.55 acres and each of the lots has an individual entrance with on-site parking for a total of 39 vehicles to the front and rear of the lot.
Mr Mattin added: “Cambrai Court is currently part-let, with over 75% occupancy producing £260,958 per year, with the potential for £339,162 once fully let.
“There is also the additional potential to further develop the site at the rear, so there are really a lot of options with this investment opportunity. It has tremendous scope for rental growth and owner-occupancy opportunities.”
Tenants across the five buildings also have access to a refurbished 12-person boardroom with WiFi access, and Cambrai Court has a wide range of office suite sizes, offering options for a variety of businesses.
Bond Wolfe has just reported a record first six months of the year, with this week’s auction set to bring in group sales in excess of £100m.
In the first six months of 2022, Bond Wolfe’s agency arm posted revenue of £28.4m and ended the first half with a further £6.1m in legal deals.
Highlights include the sale of Waterloo Court in Wolverhampton for £2.8m, Cridden Industrial Estate in Stourbridge for £1.115m, a Leamington Spa investment for £1,595,000, a student accommodation investment in Birmingham for £11,610,000 and 2 £.25m for a portfolio of residential sites in Acocks Green and Smethwick, Birmingham.
Acuitus raises £28.76 million from July sale
Acuitus raised £28.76 million at its last commercial property auction, selling 86% of the properties on offer.
A highlight was an industrial property in Surrey. The 43,154 sq ft Hoppings Timber Yard property in Lingfield is on a new 15 year lease at a current annual rent of £275,000. The purchase price reflected a net initial yield of 6.5%. It was eventually sold for £3.92 million.
Demand for industrial assets was further underscored by the sale of HB’s accident repair center in Swinton, Manchester. The 22,831 sqft property, which has a lease until 2030 with a break-tenant option in 2025 and a current annual rent of £125,000, was sold ahead of the auction for a target price of £1.75m.
Almost £17m was raised from pre-auction auction contracts with an average lot size in excess of £1.5m. One example was a well-known retail arcade in Bournemouth, The Burlington, which sold well in excess of the £1.9million benchmark. Elsewhere, 2 and 2a Lendal in York – a restaurant investment in a listed building in the city center – attracted considerable attention from investors and also sold well ahead of their £1.1m guide price ahead of the auction.
Another popular leisure property that also previously sold well above its £2.7m target price was the Red Lion Hotel & 4-8 Castle Street in Luton. It is leased to the Slug & Lettuce Company until 2045 and produces £212,657 a year.
Richard Auterac, Chairman and Auctioneer of Acuitus, comments: “This was our largest auction of 2022 to date. A thorough understanding of the cash buyers’ needs and the assets to be sold is a prerequisite for successful sales and I believe it is necessary nonetheless With the global and economic issues we are all aware of, this is a good time in the cycle for investors to put their money into real estate.”
Instructions are now being requested for the next Acutus Broadcast Auction in 2022, which will take place on Thursday, September 22nd. It offers online, telephone and proxy bidding. More details can be found here.
Whilst this is a small recap compared to the others, this marks my very last auction recap on Property Investor Today as I sadly say goodbye to Angels Media. It has been my pleasure to cover the latest auction news, speak to renowned auctioneers and build a long-standing column for the auction industry. I pass the baton to the PIT team who are sure to make the summary a great success.
Thank you for tuning in over the past few years and keep an eye out for the next auction recap in the coming weeks.