Strettons’ October sale set to bring land investment opportunities

Strettons’ catalogue for its October auction, which features 62 lots, is now available online.

Taking place on October 8, Strettons’ national property auction will include vacant houses, residential and commercial investments, and land and development opportunities.

Of particular interest is a unique series of nine plots in Reading, Weymouth, Nottingham, Derby, Bradford, Leeds, Castleford, Prescot and Merseyside, all being offered by advertising agency JCDecaux with a guide price starting at just £100 up to £280,000–£300,000.

Another feature in the catalogue is a portfolio of 55 freehold lock-up garages on four separate sites in Romford with a guide price of £350,000–£360,000. A freehold vacant village green, complete with a bungalow and planning permission for a new dwelling in Langley, Essex, is guided at £260,000-plus for those wanting a taste of village life.

Philip Waterfield, Strettons’ director and auctioneer, commented: “Auction is the perfect way to sell unique lots such as the lock-up of garages and advertising sites which might offer that unusual ‘grand design’ opportunity and I am looking forward to seeing the level of interest in the sale room.”

Lot 32, a substantial freehold commercial/residential investment in Chadwell Heath, Essex, is the highest priced property in the sale. Having been in the same family ownership for over 50 years, the three-storey block, comprising two ground floor double shops and eight self-contained flats above, has a guide price of £1.525 million. The adjoining property, lot 33, is also on offer – making the offer between the two lots close to £2 million.

There is also a wide range of residential and commercial opportunities in London and the south east. In Leyton, E10, a freehold vacant house for repair has a guide price of £320,000, while in East Ham, E6, a freehold vacant house for improvement is guided at £300,000.

A freehold vacant Grade II listed house for improvement and modernisation in Oval’s SE11 has a guide price of £800,000–£810,000.

Commercial properties include a long leasehold ground floor commercial investment in Hackney E8 with a guide price of £659,000-plus, while in Ilford, IG1, a commercial/residential investment comprising a ground floor retail unit with flats above has a guide price of £600,000-plus.

Elsewhere in east London, the former Army and Navy Public House in Plaistow, E13, is guided at £480,000–£500,000. The leasehold property and adjoining car park is offered vacant with planning permission.

Waterfield added: “Early post summer auctions have demonstrated that the market is not immune from the nervousness resulting from the wider economy and, while uncertainty is to be expected, there are still plenty of opportunities to be found in the auction room, especially when taking a long-term view.”

Strettons’ next auction will take place at 11am on Monday 8th October in Holborn at the De Vere Grand Connaught Rooms, Great Queen Street, London, WC2B 5DA.