25th February 2019
Development opportunities among lots sold in a full day of property auctions
A full day of auctions at Chester Racecourse and the AJ Bell Stadium in Manchester saw a variety of lots – commercial and residential – sold under the hammer by SDL Auctions.
Among the lots sold in Manchester by SDL Auctions North West was an industrial warehouse in St Helens, Merseyside, which sold for £85,000 from a *guide price of £65,000+. The warehouse, to the rear of 202-204 Clipsley Lane, Haydock, St. Helens, is in a largely residential area close to St Helens town centre and sits on approximately 0.19 acres of land, representing an excellent development opportunity, subject to the relevant consents.
Another interesting commercial investment which sold under the hammer in Manchester was a portfolio of more than 300 ground rents in Greater Manchester. Together, they produce an annual income of around £2,337 and, from a guide price of £20,000+, they sold for £27,000.
Earlier in the day at the SDL Auctions Cheshire and North Wales auction in Chester a development site at 32-36 Bridge Street, Wrexham attracted attention for its investment potential, selling for £155,000 from a guide price of £150,000+. The site, within walking distance of local amenities, has planning permission for a mixed-use development comprising a ground floor commercial unit and nine one-bedroomed apartments on the upper floors plus a two-bedroomed penthouse on the third floor.
Residential properties were also available on the day, including a semi-detached house in Bangor, which sold in Chester for £105,000 from a guide price of £100,000+. The two-bedroomed property, 2 Railway Cottages, Felin Hen, Bangor, requires complete renovation and has two reception rooms, breakfast kitchen and cloakroom on the ground floor, with two bedrooms, a bathroom and a study upstairs. Outside are a large garden and ample parking, making this a house with a huge amount of potential to become a desirable family home or sought-after rental property.
Debs Latham, head auctions at SDL Auctions Cheshire and North Wales, said: “Refurbishment properties are an excellent investment for landlords and developers as they provide the opportunity to add value before selling on or letting to tenants, who always need homes to rent.”
The auctions team are now on the lookout for properties for the next round of auctions, to be held on Thursday 4 April at Chester Racecourse and, in Manchester, at the AJ Bell Stadium. Lots can also be sold online at any time.
Andy Thompson, head auctions at SDL Auctions North West, said: “There is no ‘typical’ auction property, as you can see from our results. We welcome properties of all shapes, sizes, ages and states of repair. While some of the properties we sell do require renovation or modernisation, others are ready to move into or let out straight away. We are also on the lookout for commercial properties, land and development opportunities.”
Properties will be featured in a bumper two-venue auction catalogue, which will also include dozens of lots being sold at online auction.
Andy added: “Buying and selling at auction is quick and hassle-free, with no lengthy property chains. When the hammer falls, the contract is legally binding – and completion usually takes place within 28 days. It’s a great way to get things moving.”
For a free auction appraisal or to find out more about selling at auction, visit the website at www.sdlauctions.co.uk.
* Each property is subject to a Reserve Price which may be different from the Guide Price. For full definitions see www.sdlauctions.co.uk/glossary.