Strettons launches catalogue for March auction

Strettons has announced that the catalogue for its March auction is now available to view online.

The property firm’s February auction was a success, with 92% of the properties on offer sold, and it hopes to follow that up with the auction taking place on Tuesday 27 March in Holborn at the De Vere Grand Connaught Rooms in Great Queen Street.

The late March auction will comprise 41 lots, with guide prices ranging from £2 million to £15,000. At the upper end is a freehold vacant building made up of five flats for improvement in Shadwell, while at the lower end is a long leasehold vacant garage in South Woodford.

The auction will also feature a number of high-value residential properties, all with potential for development, improvement or conversion.

This includes a freehold vacant building comprising three flats for improvement, guided at £865,000-£875,000, a freehold vacant house with planning permission for two luxury houses (with a guide price of £1.4m-£1.45m) in Loughton, and a freehold vacant house for improvement (with a guide price of £700,000-plus) in Stepney Green.

In addition, there is a freehold vacant house for improvement and modernisation in Fulham, guided at £800,000-£815,000, and a substantial freehold vacant residence for repair/improvement with potential for conversion into flats (at a guide price of £1.8 million-plus) in the North London district of Dartmouth Park.

Those looking for a unique development, meanwhile, will be most interested in Lot 32, a modest row of lock up garages in Leytonstone with the potential to be converted into a unique, two-bedroom subterranean home. The site, which already has planning permission, has a guide price of £200,000-plus.

“I do believe this is the first site we have ever sold that has planning permission for a subterranean home,” Philip Waterfield, Strettons’ auction director, said.  

“I am sure that we will see more of this sort of development as London’s population continues to increase and people look for more inventive ways of building homes. It would be great for someone to transform this row of garages into an innovative property.”

As well as a wide range of residential properties on offer, the March auction will also include commercial investments, land and ground rents from across London and the Home Counties. The full catalogue can be viewed online here.

“Our sale will appeal to a broad range of investors, especially those looking for opportunities in and around London,” Waterfield added. “Although with fewer lots than our February sale, the value of the properties listed this time is higher with a total realisation of £20 million.”

Strettons’ March auction will take place at 11:00am on Tuesday 27 March at the De Vere Grand Connaught Rooms, Great Queen Street, London, WC2B 5DA.

For further information on the properties available, you can contact the Strettons’ auction team on 0207 637 4000.