Hot development opportunities in Wales, says John Pye

Development opportunities across residential, mixed-use commercial and agricultural land in Wales will be on offer at John Pye Property’s online auction.

The sale, which takes place on 25-26 September, will see property investors and developers seeking out lucrative buys in prime Welsh locations.

Three lots of agricultural land in Narberth, Pembrokeshire, totalling 63.5 acres is up for grabs, one of which comprises three acres of land and 20,000 sq. ft of agricultural buildings. This particular site is ideal for accommodation, cropping and cattle grazing, with a guide price of £95,000.

Part of the residential offering is a three-bedroom terraced property in Bridgend which is located close to local amenities and the M4. With a guide price of £59,000, this property provides a good opportunity for rental return – ideal for developers seeking to add value to a property, as well as investors looking to add to portfolios.

One of the most prominent properties snapped up in the August John Pye auction was a four-storey building in the prime location of the high street in Blackwood town centre. The building – formerly a job centre – provided a total of 12,510 sq. ft of internal space and plans had already been drawn up to convert the top floors and part of the first floor into 16 residential apartments.

Located at the rear of the property is the popular Blackwood Retail Park and other local occupiers including Asda, Argos, J.D Wetherspoon, McDonald’s and B&M. The building sold for £295,500.

Matthew Jordan, senior surveyor for the John Pye Property Wales region, comments: “John Pye Property is the birthplace of online property auctions and since joining the business earlier this year, myself and the team have been working to unlock opportunities in Wales, of which there is an abundance.”

“The ease of online auctions means that more investors are now using the platform to source and buy and sell properties, allowing more movement in the marketplace.”

“This auction provides plenty of flexible options in quality locations that have the potential to be very profitable,” he continues. “Property enthusiasts and investors looking to build upon their portfolios and developers seeking to add value to properties should check out the auction sooner rather than later, so as not to miss out.”

Richard Reed, MRICS, head of property at John Pye Property, adds: “We are proud to be offering such a breadth of development opportunities in Wales; a vibrant country that we have been active in for six years.”

“We also opened Europe’s largest auction facility in Port Talbot in 2016 called John Pye Auction City selling a phenomenal range of household goods and vehicles to Wales.”

He says since 2013, John Pye has offered through auction more than £250 million worth of property across the UK.

“With the addition of experienced and talented team members such as Matthew, we can expect to reveal many more solid investment opportunities in Wales as stock increases and our presence expands – watch this space,” he concludes.

The auction will go live on Wednesday September 25 and conclude on Thursday September 26.