23rd June 2020
Double opportunity to invest in Belper
A pair of one bedroomed flats in one of Derbyshire’s most popular towns are among the 167 properties going under the hammer in the country’s biggest live-broadcast auction this month.
And, following the news that one bedroomed properties produce the best returns for investors, according to lettings management platform Howsy, auctioneers are expecting the flats to attract a great deal of interest.
According to the research, Properties with one bedroom are now averaging a yield of 6.2%, with two bedroomed properties not far behind at 5.6% and three beds at 5%.
Robert Stone, head of auctions East Midlands, said: “The figures from Howsy are interesting, as they put one bedroomed properties ahead of the rest – and the top-floor flat here, which is already let, would actually yield 10% if it sold for its guide price, making it an even more fruitful investment.
“But what puts these flats even further ahead is the space available and the location. Belper has become one of the hottest property spots in Derbyshire, thanks to its attractive old buildings and its award-winning high street.”
A communal ground-floor entrance at the rear of the property leads to the two virtually identical flats; 21a on the first floor and 21b on the second floor.
A long passaged landing leads to all rooms, which include a spacious front sitting room with sash window, a kitchen diner with a range of units, double bedroom, bathroom with white suite and useful walk-in storage cupboards. The flats are part uPVC double-glazed and feature a mix of storage and panel heaters.
The second-floor flat, 21b, is currently let at £390 per calendar month (£4,680 per year).
The properties are above a shop on the corner of Derwent Street, which is currently undergoing a £10 million regeneration to include a care home and new library for the town.
Robert added: “One of the great appeals of Belper is that it has such a wonderful array of shops, earning it the Champion High Street Award for England at the Great British High Street Awards. But equally, it is surrounded by beautiful countryside, making it popular with walkers and cyclists, too.”
As well as its numerous independent shops, Belper has a good range of supermarkets, schools and amenities, including a leisure centre, sports clubs and, in normal circumstances, a busy schedule of festivals and events throughout the year.
The two properties are due to be sold in SDL Auctions’ national property auction on Tuesday 30th June, which will be conducted by managing director and auctioneer Andrew Parker and broadcast live over the internet. Bids can be placed online, over the phone or by proxy.
The national property auctions have grown each month, with an increasing number of lots and reaching a wider audience each time. Since the start of the lockdown period, SDL Auctions has sold an average of five properties each working day.
To find out more about any of the properties going under the hammer, or to register to bid remotely by proxy, by telephone and over the internet, click here or call the team on 01332 242 880.