Auction overview – launch of new catalogs and…

With the additional potential of securing a local council renovation grant of between £15,000 and £30,000, this is an excellent investment opportunity priced at an indicative price of £59,000+.

It would also probably be easier to cool down from inside the Former Allestree Methodist Church in Derbyshire, a large and imposing former place of worship, with its interior floor area spanning over 2,000 square feet.

Originally built in or around 1895, the building is single storey and is in a very popular location with a wide range of amenities close by. There is potential for residential or commercial conversion, subject to obtaining the appropriate planning permissions, which makes its indicative price of over £155,000 incredibly attractive.

Another rare and unique opportunity is also available in Derbyshire, this time with Rough Heanor Farm. This is a converted Georgian brick farmhouse, set in just over 10 acres of land with a range of outbuildings. After being partially restored, the building retains a number of its original features and requires further improvements and upgrades.

The property has real potential to become a wonderfully characterful family home, with the land of the property also adding further development opportunities, and is being offered at an indicative price of over £685,000.

A slightly smaller character cottage is in Brent in Devon, as 2 Church Street goes under the hammer. This two bedroom semi-detached cottage is in the town center and close to all necessary local amenities and services, with the added benefit of being on the southern edge of Dartmoor National Park. Retaining some period features such as barn style doors and a stone fireplace this is a real bargain priced at over £134,000.

Managing Director and Auctioneer Andrew Parker says: “The beauty of auctions is how we are able to bring such a wide range of properties to market and this month is no different. With vacation homes, churches and pieces of history under the hammer, it’s sure to be an exciting sale in July.

These are just some of the opportunities being sold in July through SDL Property Auctions. The July National Property Auction offers a wide range of homes, apartments, commercial properties, land and more to suit all requirements and budgets.

The National Property Auction on Thursday July 28 will be broadcast live via SDL Property Auctions with bids placed online, over the phone and by proxy. Auction entries must be submitted by noon on Wednesday, July 27 by click here. For more information on any of the properties, Click here or call the team on 0800 046 5454.

Allsop launches a Bumper Resi catalog before the August sale

Allsop has released its August residential auction catalog comprising 200 lots, showing a 25% increase in the number of assets on offer compared to the same time last year.

The new catalog offers potential buyers a wide variety of investment and development opportunities across the country, including a diverse mix of homes, apartments, land investments and mixed-use projects.

Highlights of the sale include:

  • Lot 118: two freehold buildings comprising fifteen studios, in Kentish Town, London. Each flat in the building is subject to an assured short-term rental with total rent booked at £151,082 per annum and the property is guided between £2.1-2.2 million.

  • Lot 41: a freehold terraced building with planning permission granted for change of use to eight self-contained one-bedroom apartments in Windsor, Berkshire, with a current total reserved rent of £93,780 per annum, guided to more £1.85 million

  • Lot 80: a freehold garage and workshop with planning permission for the construction of a block of seven self-contained apartments above an E-class commercial unit, located in South Wimbledon, London, guided to over £1.5m

  • Lot 33: two semi-detached freehold HMO buildings with a total GIA of 3,923 sq ft, located in Redhill, Surrey, guided to over £1.2m

Richard Adamson, Partner and Auctioneer at Allsop, comments: “Allsop’s residential auction catalog in August was eagerly awaited by potential buyers in the UK and beyond, with over 200 properties on offer, a 25% increase in batches compared to Aug. 2021.”

“The new catalog offers a wide range of attractive and income-generating investments and numerous development opportunities. Despite soaring inflation, the cost of living crisis and domestic and international political turmoil, the residential market continues to perform steadily and we anticipate a busy few weeks before the auction on August 4th.

Allsop’s next residential auction will take place online on August 4, 2022, and the full catalog can be viewed here.

Bond Wolfe brings the distinctive Cambrai Court to market

Already celebrating a record first half, Bond Wolfe has been tasked with selling a major freehold Edwardian office building in Hall Green and is seeking offers above £2,950,000.

James Mattin, Managing Director of the Bond Wolfe Agency, comments: “Cambrai Court at 1229-1235 Stratford Road is a distinctive building – a stunning piece of Edwardian architecture, and as an investment it offers many opportunities for any potential buyer.

The property currently operates as a large multi-tenant office complex spread over five buildings, but would lend itself to a variety of configurations.

It totals approximately 10,259 square feet on 0.55 acres, and each of the properties has an individual driveway with on-site parking for a total of 39 vehicles in the front and rear of the property.

Mr Mattin added: “Cambrai Court is currently partially let, with over 75% occupancy producing £260,958 a year, with the potential for £339,162 when fully let.

“There is also the additional potential to further develop the site to the rear, so there really are plenty of options with this investment opportunity. It offers huge potential for rental growth and opportunities for owner occupiers. »

Tenants in all five buildings also have access to a refurbished 12-person conference room with Wi-Fi access and Cambrai Court has a wide variety of office suite sizes, providing options for a wide variety of businesses.

Bond Wolfe has just reported a record for the first six months of the year, with this week’s auction set to take the group’s turnover to over £100million.

In the first six months of 2022, Bond Wolfe’s agencies division recorded sales of £28.4m, ending the first half with a further £6.1m in legal fees.

Highlights include the sale of Waterloo Court in Wolverhampton for £2.8m, Cridden Industrial Estate in Stourbridge for £1.115m, an investment in Leamington Spa for £1,595,000, a residential investment in a student accommodation in Birmingham for £11,610,000 and £2.25 million for a portfolio of residential sites in Acocks Green and Smethwick, Birmingham.

Acuitus raises £28.76m in July sale

Acuitus raised £28.76million in its latest commercial property auction with 86% of the properties on offer sold.

One of the highlights was an industrial asset in Surrey. The freehold 43,154 square foot 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 finally sold for £3.92 million.

Demand for industrial assets was further boosted by the sale of the HB accident repair center in Swinton, Manchester. Leave until 2030 with an option to terminate the tenant in 2025 and at a current annual rent of £125,000, the 22,831sqft property sold before the auction with a guide price of £1.75million of £.

Nearly £17m was raised through pre-auction auction contract sales with an average lot size of over £1.5m. One example was a well-known shopping arcade in Bournemouth, The Burlington, which sold well beyond its £1.9million guidebook. Elsewhere, 2 and 2a Lendal in York – a restaurant investment in a Grade II listed building in the city center – attracted considerable investor attention and also sold ahead of the auction well above from its guide price of £1.1 million.

Another popular leisure investment which also sold well above its £2.7million guide price was the Red Lion Hotel & 4-8 Castle Street in Luton. It is leased to the Slug & Lettuce Company until 2045 and produces £212,657 a year.

Richard Auterac, President and Auctioneer of Acuitus, comments: “This was our largest sale to date in 2022. A thorough understanding of the needs of cash buyers and the assets being sold is a prerequisite for the success of the sales and I am convinced that notwithstanding the global and economic problems that we are all aware of, this is a good time in the cycle for investors to place funds in real estate.

Instructions are now requested for the next Acuitus broadcast auction of 2022 which will take place on Thursday, September 22. It will offer online, telephone and proxy auctions. More details can be found here.

Although this is a small roundup compared to others, this is my very last roundup of bidding on Property Investor Today as I am sadly leaving Angels Media. It was a pleasure to report on the latest auction news, speak with renowned auctioneers and develop a long-running column for the auction industry. I will pass the baton to the PIT team, who I am sure will lead the roundup to great success.

Thanks for logging in over the past two years and be sure to keep an eye out for the next auction in the weeks to come..


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