In East Ham, Forest Gate, Manor Park, Poplar, Plaistow, Hackney and Walthamstow, there are a range of freehold and leasehold residential investment opportunities with significant development potential.
Prices range from £130,000 for a long leasehold lower ground floor flat in Hackney, to £475,000-plus for a freehold residential investment comprising two flats in East Ham.
In Eltham, SE9, a freehold supported living investment property currently producing £52,655 per annum has a guide price of £795,000-plus and in Hornsey, N8, a freehold residential investment comprising 5 self-contained flats is guided at £1,650,000 plus.
Meanwhile, In Kensington, a long leasehold residential investment comprising a top floor flat with expired planning for a third bedroom has a guide price of £1,000,000 plus.
As with previous Strettons sales, the auction will also include a variety of land investments sold on behalf of advertising agency JCDecaux. The sites have proved popular in the past as many are in prominent locations and have development potential, subject to obtaining all necessary consents.
Strettons director and auctioneer Andrew Brown comments: “Properties where there is potential to add value or to undertake a development project have performed well at previous sales this year and we have numerous such properties in our October catalogue.”
“From flats and houses requiring modernisation in East London, to full-scale building projects, such as a site with planning permission for a restaurant and a 40 bedroom hotel in Margate, we have opportunities that will appeal to a range of investors.”
To date, the auctioneer has achieved over £55 million through its sales in 2021.
The auction will be Strettons’ sixth sale of 2021. It takes place at 12 noon on Thursday October 28 and will be live-streamed with remote bidding only. You can download the full catalogue here.
Carbis Bay hotel set to go under the hammer
More than 800 items from the Treloyhan Manor Hotel in St Ives will be put up for auction next month, including furniture, artwork, commercial kitchen equipment and ancillary items associated with running a hotel.
Items in the three-day sale, organised by Pro Auction, include sofas, drapery, writing desks, headboards and canopies, along with furniture and fittings from the public areas, bars and restaurants.
The hotel provides 39 rooms (26 of which are en suite) of accommodation across ground, first and second floors, including six staff rooms which have the potential to be converted into additional letting accommodation, subject to the necessary approvals.
It also provides a guest lounge, reception lounge, dining room, library and a games room. The hotel is set in grounds that extend to c.4.11 acres and has car parking for 54 vehicles.
Simon Rose of Pro Auction says: "This unprecedented renovation project brings with it the opportunity to purchase a piece of the hotel's history at auction as the owners pave the way for a new chapter for the Treloyhan."
Treloyhan Manor Hotel is a ‘superb’ 19th-century manor house located in one of the finest spots in Cornwall, at the coastal resort of St Ives. Built in 1892 by a Cornish shipping magnate, the building is full of history, with many original features remaining, including the oak-panelled hall.
The hotel was recently sold for £3 million after a bidding war and has been acquired by investors from Manchester.
The sale will commence on November 3 2021 at 10.30am and bidders are invited to the premises or to participate in the live webcast auction.
It will be open to the public and takes place at Treloyhan Manor Hotel Treloyhan Road, St Ives TR26 2AL from 8.30am on sale day or by attending the viewing day on November 2 registration at Pro Auction Limited Auction House (bidspotter.co.uk).
It’s bargains galore at Bond Wolfe’s next auction
Bond Wolfe Auctions has released information on the latest lots featured in its upcoming sale on October 20.
One such highlight is two holiday homes on a 35-acre country park in Cornwall. The long leasehold bungalows are at numbers 46 and 95 Hengar Manor, St. Tudy, near Bodmin, and have guide prices of £35,000-plus and £30,000-plus respectively.
Both properties have access to the country park’s nine-hole golf course, tennis courts, fishing lake, swimming pool, popular bar and restaurant.
The pair of lots follow previous sales of Hengar Manor homes in recent Bond Wolfe auctions, with the last one with a guide price of £20,0000-plus selling for £55,000 at the company’s September auction.
Land next to the Client Hills beauty spot in Worcestershire among potential housing sites will also appear at the auction. More than half an acre of land is set to be one of a string of potential development sites in desirable locations across the Midlands featured.
Several already have planning permission, but the high demand for residential land will put all the plots high on developers’ target lists, especially given the bargain guide prices set against them.
For instance, the land on the west side of Bromsgrove Road in Clent, near Stourbridge, has a guide price of just £50,000-plus.
Up in Redditch, a guide price of £110,000-£120,000 has been set for land at West Avenue, which comes with planning permission for six self-contained flats. The 0.2-acre plot is being sold as a freehold residential development opportunity in what is a mostly residential area south of Redditch town centre.
A similar-sized plot of land to the rear of 8 Walsall Street in Wednesbury also comes with planning permission and has a guide price of £90,000-plus.
There will also be a broad range of properties across Leicestershire, Stoke, Derbyshire, Birmingham, Nottinghamshire and more.
A spacious former guesthouse overlooking open countryside on the edge of Sutton Coldfield is also likely to attract competitive bidding. The nine-bedroomed, detached property known as Highfield Farm, on Farthing Lane in Curdworth, has a guide price of £635,000-plus.
The building started life as a farmhouse on a working farm before being used as a guesthouse and it could easily be converted back into a family home.
The ground floor currently has an entrance hallway, an understairs toilet, three double en suite bedrooms, two reception rooms, a dining room, a spacious kitchen with another dining area, a conservatory and stores.
Upstairs is a landing leading to five more double bedrooms, mostly en suite, one single bedroom and a large family bathroom.
Outside there is a brick-paved in-and-out driveway with gardens, a lawned area to the side with mature fruit trees and fishpond, and a rear patio area with a swimming pool.
There is also a generously sized detached building currently used as a snooker room with a bar and toilets, and two other outbuildings which provide useful storage space.
Lastly, a large residential investment property in the Black Country is expected to draw in numerous investors looking for a bargain.
The five-bedroomed semi-detached HMO at 33 Bolton Road, Wednesfield, currently earns a gross income of £22,680 per annum, adding to its attraction. It is laid out with two bedrooms on the ground floor, along with a lounge, kitchen and bathroom with shower.
The first floor offers two bedrooms and a bathroom with two showers, with a fifth bedroom on the second floor, and there is a driveway to the front and a lengthy garden at the rear.
Gas central heating and double glazed windows throughout were installed in 2017.
These highlights are among 188 lots that will appear in Bond Wolfe’s next auction which starts at 9am on Wednesday October 20. The auction will be live-streamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.
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