Savills will host its latest regional auction in Nottingham this week with 29 lots set to go under the hammer.
The sale, which will take place on Thursday 1st September, at the Centenary Suite, Nottingham Racecourse at 2.30pm, will feature a wide variety of opportunities across the residential and commercial property market.
Victor Ktori, head of office at Savills Nottingham, said: “Once again the September auction offers a diverse range of properties across a wide geographical spread. We are continuing to see an influx of licensed leisure lots, including a rare opportunity to acquire a bar/restaurant on St James’s Street in the heart of Nottingham city centre. These lots offer both significant investment and development opportunities for those looking to secure a quick and efficient purchase via the auction process.”
Lots will include:
Lot 6, 30 Rees Gardens in Top Valley, Nottingham. An investment opportunity to acquire a first floor, one bedroom flat, offered for sale subject to an Assured Shorthold Tenancy with an annual rental income of £4,740. The property comes with a guide price of £40,000 to £45,000.
Lot 7, the former Atmosphere Nightclub at The Old School House on Horseshoe Street, Northampton. An opportunity to acquire the vacant freehold of a former nightclub situated in the heart of the city centre in a location known for its nightlife. The property is being offered at a guide price of £290,000.
Lot 15, 9 The Fox & Hounds at 9 Station Road in Reepham, Lincoln. The chance to purchase a public house, which has the potential to be converted for alternative uses subject to planning consent. The Fox & Hounds is guided between £150,000 - £170,000.
Lot 16, 52 Wiverton Road, Forest Fields, Nottingham. A substantial period three storey terraced property offering generous accommodation. In need of upgrading and modernisation, the property, which is being offered at a guide price between £150,000 and £175,000, provides an excellent investor opportunity.
Lot 20, Former Caretaker’s Bungalow in Stapleford, Nottingham. A modern detached bungalow offered in need of some refurbishment and modernisation, set within an established location with a guide price of £90,000 to £100,000.
Lot 25, 48 Fern Road in Cropwell Bishop. A unique opportunity to acquire a period detached cottage, set on the edge of the sought after south Nottinghamshire village, offered with scope for upgrading and modernisation. The property is guided at £250,000.
Lot 26, 18 Bank Yard in Bulwell, Nottingham. Comprising 12 units, the retail arcade offers an excellent investment opportunity, with strong rental income and the potential for future asset management. The arcade is being offered at a guide price of £175,000 - £200,000.
Bob Crocker, head of residential auctions at Savills Nottingham, commented: “Following another reduction in Bank of England base rates recently, it is anticipated that residential property will continue to be a strong choice for investors as they take advantage of lower interest rates, and we may begin to see more people investing in bricks and mortar to supplement their pensions.
“Additionally, we are likely to see a rise in general activity as buyers begin to refocus their attention on property following the summer. As a result, we are anticipating a very busy September auction.”
Here are details of the property auctions taking place in September.