Classic auction investment lot has huge potential

Home buyers looking for a real renovation project to get their teeth into will be flocking to SDL Auctions Graham Penny’s next Derby auction.

The lot going under the hammer at Pride Park Stadium on Wednesday 11 April is one that will satisfy even the most ardent DIY enthusiast, according to senior valuer Robert Stone.

The property at 85 Markeaton Street in Derby is derelict but represents an excellent opportunity to acquire a spacious two, possibly three bedroomed, palisaded end terraced property in a quiet yet convenient location. It has a *guide price of £30,000.

Robert Stone said: “This is a classic auction investment opportunity. The house is in need of a full scheme of renovation, but it is well located, within easy reach of both the nearby university and the city centre.

“It currently has two genuine double bedrooms but the property has the potential for a loft conversion, subject to planning, which could give a third bedroom.”

Situated between Ashbourne Road and Kedleston Road, Mr Stone believes it would be a popular property for young professionals or students. It is close to the fashionable Friar Gate area with its many restaurants and pubs.

The accommodation includes an entrance hall with Minton tiled floor covering and front sitting room, separate dining room and spacious kitchen on the ground floor. On the first floor a galleried style landing leads to the two large double bedrooms and bathroom.

Robert Stone added: “When renovated to a good standard, this property could realise around £140,000-£150,000 on the open market, possibly more with a third bedroom conversion.”

Final entries are still being invited for the Derby April auction and anyone wishing to sell a property should call click here for a free auction appraisal.