With the additional potential to gain a refurbishment grant from the local council of between £15,000 and £30,000, this is a great investment opportunity at a guide price of £59,000-plus.
It'd also be likely easier to cool off from within the Former Allestree Methodist Church in Derbyshire, a large and imposing former place of worship, with its internal floor area extending to over 2,000 sq. ft.
Originally built in or around 1895, the building is a single storey and sits in a very popular location with a wide range of amenities nearby. There is potential for residential or commercial conversion, subject to the appropriate planning consents being obtained, making its guide price of £155,000-plus, incredibly attractive.
Another rare and unique opportunity is also available in Derbyshire, this time with Rough Heanor Farm. This is a substantial, brick-built Georgian former farmhouse, set in just over 10 acres of land with a range of outbuildings. Having been partially restored, the building retains a number of its original features and requires some further improvement and upgrading.
The property has real potential to be developed into a wonderfully characterful family home, with the property’s land adding extra development opportunities too, and is being offered at a guide price of £685,000-plus.
A slightly smaller characterful cottage can be found in Brent in Devon, as 2 Church Street goes under the hammer. This two-bedroomed, terraced cottage sits within the town centre and is close to all necessary local amenities and services, with the additional benefit of being on the south edge of Dartmoor National Park. Retaining some period features such as barn-style doors and a stone fireplace, this is a real opportunity at a guide price of £134,000-plus.
Managing director and Auctioneer Andrew Parker says: “The beauty of auction is how we can bring such a wide range of properties to market and this month is no different. With holiday homes, churches and pieces of history going under the hammer, it’s sure to be an exciting sale this July.”
These are just a few of the opportunities being sold in July through SDL Property Auctions, with the July National Property Auction featuring a great range of homes, apartments, commercial properties, land and more, suiting every requirement and budget.
The National Property Auction on Thursday July 28 will be live streamed via the SDL Property Auctions with bids placed online, on the phone and by proxy. Bidding registrations must be submitted before midday on Wednesday July 27 by clicking here. For more information on any of the properties, click here or call the team on 0800 046 5454.
Allsop launches bumper resi catalogue ahead of August sale
Allsop has released its August residential auction catalogue featuring 200 lots – demonstrating a 25% increase in the number of assets on offer from this time last year.
The new catalogue provides potential buyers with a wide variety of investment and development opportunities across the country, including a diverse mix of houses, apartments, ground rent investments and mixed-use schemes.
Highlights of the sale include:
Lot 118: two freehold buildings comprising fifteen studio flats, in Kentish Town, London. Each flat in the building is subject to an assured shorthold tenancy with total rent reserved at £151,082 per annum and the property is guided at £2.1-£2.2 million
Lot 41: a freehold terrace building with planning permission granted for change of use to eight self-contained one-bedroom flats in Windsor, Berkshire, with total current rent reserved at £93,780 per annum, guided at £1.85 million-plus
Lot 80: a freehold garage and workshop with planning consent for the erection of a block of seven selfcontained flats above a Class E commercial unit, situated in South Wimbledon, London, guided at £1.5 million-plus
Lot 33: two freehold adjoining semi-detached HMO buildings with a total GIA of 3,923 sq. ft., located in Redhill, Surrey, guided at £1.2 million-plus
Richard Adamson, partner and auctioneer at Allsop, comments: “Allsop’s August residential auction catalogue has been much anticipated by potential buyers from across the UK and beyond, with over 200 properties on offer –a 25% increase on the number of lots compared to August 2021.”
“The new catalogue features an extensive range of attractive income-producing investments and numerous development opportunities. Despite surging inflation, the cost-of-living crisis and political turbulence nationally and internationally, the residential market continues to perform consistently, and we anticipate a busy couple of weeks leading up to the auction on August 4.”
Allsop’s next residential auction will be held online on August 4 2022, and the complete catalogue can be viewed here.
Bond Wolfe brings distinctive Cambrai Court to the market
Bond Wolfe, already celebrating a record first half to the year, has been instructed to sell a substantial freehold Edwardian office building in Hall Green and is seeking offers over £2,950,000.
James Mattin, managing director agency at Bond Wolfe, comments: “Cambrai Court at 1229-1235 Stratford Road is a distinctive building – a stunning piece of Edwardian architecture, and as an investment, it offers numerous possibilities for any would-be buyer.”
The property currently operates as a large multi-let office complex across five buildings but would lend itself to a variety of configurations.
It totals approximately 10,259 sq ft on 0.55 acres, and each of the properties has an individual entrance with on-site car parking for a total of 39 vehicles to the front and rear of the property.
Mr Mattin added: “Cambrai Court is currently part-let, with over 75% occupied producing £260,958 per annum, with the potential for £339,162 once fully let.
“There is also the added potential of further developing the site to the rear, so there really are plenty of options with this investment opportunity. It has huge scope for rental growth and owner occupier possibilities.”
Tenants of the five buildings also have access to a refurbished 12-person boardroom with wi-fi access and Cambrai Court has a wide variety of office suite sizes, offering options for a wide variety of businesses.
Bond Wolfe has just reported a record first six months of the year, with this week’s auction set to take group turnover over £100 million.
In the first six months of 2022, the agency division of Bond Wolfe recorded sales of £28.4 million, finishing the first half with a further £6.1 million in legals.
Highlights include the sale of Waterloo Court in Wolverhampton for £2.8 million, Cridden Industrial Estate in Stourbridge for £1.115 million, a Leamington Spa investment for £1,595,000, a student accommodation residential investment in Birmingham for £11,610,000, and £2.25 million for a portfolio of residential sites in Acocks Green and Smethwick, Birmingham.
Acuitus raises £28.76 million from July sale
Acuitus raised £28.76 million at its latest commercial property auction with the sale of 86% of the properties offered.
One highlight was an industrial asset in Surrey. The freehold of the 43,154-sq ft Hoppings Timber Yard in Lingfield is let on a new 15-year lease at a current annual rent of £275,000. The purchase price reflected a net initial yield of 6.5%. It eventually sold for £3.92 million.
Demand for industrial assets was further underlined by the sale of the HB Accident Repair Centre in Swinton, Manchester. Let until 2030 with a tenant’s break option in 2025 and at a current annual rent of £125,000, the 22,831 sq ft property sold prior to auction with a guide price of £1.75 million.
Almost £17 million was raised from Auction Contract sales prior to auction with an average lot size of more than £1.5 million. One example was a well-known retail arcade in Bournemouth, The Burlington, which sold well in excess of its guide of £1.9 million. Elsewhere, 2 and 2a Lendal in York - a restaurant investment occupying a Grade II-listed building in the city centre - attracted considerable attention from investors and also sold prior to auction substantially above its guide price of £1.1 million.
Another popular leisure investment which also sold prior substantially above its guide price of £2.7 million was The Red Lion Hotel & 4-8 Castle Street in Luton. It is let to the Slug & Lettuce Company until 2045 and produces £212,657 per annum.
Richard Auterac, Acuitus chairman and auctioneer, comments: “This was our largest sale so far in 2022. A deep understanding of the needs of the ‘cash buyers and of the assets being sold is a prerequisite for successful sales and I am confident that notwithstanding the global and economic issues that we are all aware of, this is a good time in the cycle for investors to place funds into real estate.”
Instructions are now invited for the next Acuitus broadcast auction of 2022 which will take place on Thursday September 22. It will provide online, telephone and proxy bidding. Further details can be found here.
While this is a small roundup compared to the rest, this marks my very last auction roundup on Property Investor Today as I sadly depart from Angels Media. It’s been a pleasure reporting on the latest auction news, speaking with renowned auctioneers and developing a long-standing column for the auction sector. I'll be passing the baton to the PIT team, who I'm sure will carry the roundup to great success.
Thank you for tuning in for the past couple of years, and be sure to keep an eye out for the next auction roundup in the coming weeks.