You can find the addendum for this month’s auction by taking a look at the link below.
The addendum is where you can find any last minute updates or changes to the lots on offer – it can change at any time, including on auction day itself, so if you’re bidding on Thursday, make sure to regularly check back to stay in the know.
Welcome to our June
Managing Director & Auctioneer at
SDL Property Auctions
It’s time for our sixth National Property Auction of 2023 and this month’s is set to be another exciting live-streamed auction with 217 lots for sale by remote proxy, online or phone bidding.
This month we are selling residential properties, commercial units and development land located across the UK with guide prices ranging from less than £10,000 to over £2m.
Amongst the lots for sale are a number of apartments in London, both as individual residences and as a block, such as the lot at 102 Priory Road in South Hampstead. This freehold four storey Victorian block of nine apartments is located in one of London’s most sought after locations. Comprising studio, one and two bedroomed self-contained apartments, the current rental income is £110,976pa and it’s being sold with a guide price of £2.5m.
In the East Midlands is a rare and excellent development opportunity in the delightful village of Castle Donington. Barn one to the rear of 67 High Street has detailed planning consent for a two bedroomed barn, while barn two has detailed planning consent for a three/four bedroomed detached barn.
Landlord purchasers may be interested in a two bedroomed terraced cottage at 170 Crab Lane in Manchester which is let on a Regulated Tenancy and producing £3,172pa. The property is located in the Crab Lane Conservation area and we understand the same tenant has been in occupation for over 60 years.
Read our blog on What is a regulated tenancy?
At 19 Gretton Crescent in Aldridge, Walsall is a three bedroomed semi-detached house requiring full upgrading works. Situated in a popular residential location, the property benefits from uPVC double glazing throughout along with enclosed rear garden and single garage. There is also potential for an extension, subject to any required permissions.
Those buyers looking for a renovation project in Manchester will want to take a look at 6 Oakwood Avenue in Worsley. This vacant three bedroomed semi-detached house is located in cul-de-sac location in desirable residential area. The property requires a scheme of improvement works, making it an excellent opportunity for both local developers or future owner-occupiers, looking to take on a project.
We have a good number of bungalows for sale this month located across the country, from Basingstoke to Preston. One of those for sale is 4 Trem Cinmel in Abergele, a two bedroomed bungalow situated just half a mile from Towyn town centre, in a quiet residential area. The property sits on a sizeable plot with gardens to the front and rear, a driveway providing off road parking and a garage.
Those who know Derby, may remember the NatWest Bank at 184 Normanton Road. This former high street bank premises, split over three floors and occupying a total site area of 296.17m, provides a variety of development opportunities, subject to the relevant consents.
Buyers looking for their next buy-to-let purchase will want to head to Flat 7, 13 Lumley Avenue in Skegness. This second floor flat is let on an Assured Shorthold Tenancy, with the current tenant paying £490pcm, delivers a circa 12% gross yield based on the guide price. It is a three bedroomed layout which has been reconfigured into a large two bedroomed apartment and has off-road communal parking allocation to the rear of the building.
You can browse all the lots in the June National Property Auction here. Once you’ve found a lot you’re interested in, it’s really easy to book your viewing and download the legal pack. Simply go to the property listing on our website and select the relevant option.
To sell your property in our next National Property Auction is on Thursday 27th July click here to request a free valuation.
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These are listed below – please note the reservation fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price will be included within the Special Conditions that are attached to the Contract. Therefore all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable.
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,500, and completion must take place within 30 days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 30 days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 60 days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Reservation Fee is subject to a minimum of £6,000.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead.This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration closes at 5pm the day before the auction.
Registering to bid in one of our National Property Auctions is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
Rental yield map:
The best buy-to-let
areas in the UK
When choosing a buy-to-let property, there are many elements that need to be balanced in order to get the biggest return on your investment. While many landlords will have individual concerns and considerations that need to be made, such as keeping properties in their portfolio within a reasonable distance of their own home to make management tasks easier, there are priorities which all investors share.
As such, if you’re an investor, established or aspiring, it’s likely that you’re a) looking to purchase a property at a good price, and b) need to achieve a strong rental income on that property. It’s only with these two requirements met that you will secure an equally healthy profit.
Remember to tune in!
Our Auction Events are broadcast online, live from our auction studio in Nottingham.
It’s really easy to tune in and watch on the day. The auction begins at 10am and will run throughout the day, with our each of our auctioneers taking to the rostrum. Simply visit our website where you’ll be able find a link to the auction on the day or follow the link below!
Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Homes under the Hammer
If you’re successful in this month’s auction, you could take part!
The hit TV show Homes under the Hammer are always looking for properties to feature in upcoming episodes. If you’re interested in taking part in the programme or would like any information about what is involved in taking part please contact Calum Thomson on 07966 167076 or Alice Williams on 07814 079910 or alternatively click below to contact them via email.
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction.
To view the legal pack, find a property you’re interested in using the list linked below, and select ‘legal pack’ on the right-hand panel.