20th March 2020
Bid remotely in Leicester auction for lots including a former pub
The SDL Auctions Graham Penny team are gearing up for the second Leicester auction of the year, presenting an auction catalogue of 22 varied lots, which include a former pub.
But, due to government-advised social contact limits to slow the spread of coronavirus, you won’t find the team at the usual venue of the King Power Stadium. Instead, the auction will be held behind closed doors, with several remote bidding options available to buyers and viewers able to watch and hear auctioneer Andrew Parker a website video feed.
First to go under the hammer on Friday 27th March will be a semi-detached house in the popular suburb of Aylestone. Requiring modernisation but with gas central heating and uPVC double glazing, 93 Lansdowne Road represents an excellent investment opportunity, according to auctioneers.
Senior valuer Carl Finch said: “Once renovated, this property has the potential to be let to a couple or family for around £650 per calendar month, but those seeking to maximise returns may wish to investigate its potential as a House in Multiple Occupation. The property’s layout lends itself well to an HMO, which could generate an annual income of £12,000, subject to any required permissions.”
The property, which has a *guide price of £100,000+, has three bedrooms, two reception rooms and an extended kitchen and is close to local amenities including parks, walks and good schools.
Appealing to both landlords and private homebuyers, 20 Okehampton Avenue in Leicester sits on a corner plot with scope for an extension, subject to planning permission. Currently let at £725 per calendar month, the property has a reception hallway, lounge/dining room and kitchen on the ground floor, with three bedrooms and a bathroom upstairs. The guide price is £180,000+.
Another property which will appeal to investors and private buyers is 134 Old Ashby Road in Loughborough, which has a guide price of £125,000+.
The spacious three bedroomed semi-detached property is currently let on an assured shorthold tenancy at £500 per calendar month but has not increased in the past five years. It features a side lobby, hallway, two reception rooms, kitchen and lean-to conservatory on the ground floor, with three bedrooms and a bathroom upstairs. Outside there is off-road parking, with gardens front and rear and a timber store/workshop.
It is situated close to Loughborough University, with easy access to the town centre and M1, making it ideal for the rental market, but would suit a private buyer, too.
An exciting development opportunity has arisen in the south Leicestershire village of Ullesthorpe with the sale of a former pub with planning permission for conversion to a five bedroomed house.
The Dirty Duck in Main Street currently comprises several sitting and dining areas on the ground floor with a first-floor apartment.
However, the plans – approved last month – accommodate a large living kitchen with island and dining area, a utility room, two reception rooms and a snug on the ground floor, with an en-suite master bedroom, four further bedrooms and a bathroom on the first floor.
The property, which has a guide price of £300,000+, sits on a large plot featuring a driveway, generous rear gardens and a large car park, which offers scope for future development once an uplift clause on the rear section has expired in five years’ time, and subject to any necessary planning consents.
Providing the opportunity to earn three incomes from one property, 5 Burton Street in Melton Mowbray is a mixed-use building featuring a ground-floor retail unit and basement, with two large apartments on the first and second floors.
Carl said: “This property would be a fantastic addition to a rental portfolio, and the landlord could hit the ground running as all three elements are currently let. It’s in a great location in the heart of Melton Mowbray, just two minutes’ walk to the train station, and there’s scope to develop the property further, by converting the two large apartments into four smaller ones, subject to permissions.”
The property, which has a guide price of £285,000+, currently realises a combined annual rental income of £21,000. The retail unit is currently let on a 10-year lease with eight years remaining to Belvoir Letting Agents at £10,740 per annum. The apartments each have two bedrooms, with the first-floor flat let at £405 per calendar month and the second-floor property let at £450 per calendar month.
These are just a few of the houses, flats, commercial properties and development opportunities featured in the auction catalogue and going under the hammer on Friday 27th March.
You can still view any of the properties as normal and to book a viewing, or to find out more about registering to bid online, by telephone or by proxy, please click here.