September Auctions – income boosting property auctions to consider at Cheffins

Property investors hoping to get their hands on an income-generating property may want to consider Cheffins’ next property auction on Wednesday September 21.

The auction will take place at the firm’s salerooms in Cambridge and will include 22 properties. Whether hoping to purchase a residential home or plot of land, there are plenty of options for buyers and investors to choose from.

What’s on offer?

If residential opportunities are the most appealing to you, on Market Street in Soham sits a large property arranged as eight individual flats. This is set to sell for £430,500 and has a rental income of £43,500.

A substantial residential building which is currently arranged as a five-bedroom House of Multiple Occupancy and a separate one-bedroom flat will also be up for auction. This building in Littleport produces £32,760 per annum and is set to sell for £250,000. At a slightly higher guide price of £360,000, a single-story eight-bedroom property on a two-acre site might also be up for consideration.

Those hoping to snap up a rare opportunity could consider a Methodist Church in Coveney. In exchange for £120,000-£150,000, the main hall, meeting room, kitchen area, and garden on a 0.1-acre plot could be acquired.

Investors with a bigger budget could consider a Grade II-listed parade of commercial properties on Saffron Walden High Street. These buildings were previously refurbished and maintained to a high standard, offering a solid investment with a guaranteed return, and are estimated to sell for £425,000-£450,000.

A mixed-use property in Cambridge with two self-contained residential flats and a ground floor retail premise is also up for £395,000, but will require major refurbishment work.

Plots of land for auction?

Property auctions are not only great for purchasing buildings for low prices, but they can also be used to purchase land for excellent prices too.

Before committing, it is essential that investors make sure the land is suitable for the construction plans they have in mind.

On Wednesday September 21, there will be 13 land lots on offer. The largest parcel is 34.77 acres of arable near Thetford in Norfolk, which has an estimated guide price of £320,000 - £350,000.

Meanwhile, 3.11 acres of arable land and woodland, and a range of traditional farm buildings, are also up for auction for between £60,000 and £70,000.

Ian Kitson, director at Cheffins, commented: “Income-producing opportunities are set to be the most sought-after at the September auction, as flexible and solid returns become increasingly attractive during volatile periods for financial markets and other investment opportunities. We have seen increasing numbers of investors heading to the auction room, looking to widen their portfolios as global uncertainty continues to push people towards traditional investment vehicles."

"In addition, land opportunities are consistently sought after by a range of buyers as farmers look to increase their holdings and investors and private buyers also look to tap into this stable market.”