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Investors to flock to Nottingham for property auction

Nottingham is once again preparing for another selection of commercial and residential properties to be sold under the hammer, with the launch of the latest auction catalogue from SDL Auctions Graham Penny.

With more than 100 property sales under its belt already this month, the SDL Auctions team is raring to go for the fifth Nottingham auction of the year at Nottingham Racecourse on Friday 27 September.

The new catalogue features 35 varied lots – houses, flats, commercial properties and land – including 29 which will be sold on the day and a further six which are offered by online auction, so are open to bidding now.

The first lot to go under the hammer on auction day will be one of several terraced houses.

77 Kingsway, Kirkby In Ashfield, is a refurbishment project with a *guide price of £44,000+. Within walking distance of the town centre, the two bedroomed freehold property, which requires full renovation, has a bay-fronted lounge, hallway, dining room and kitchen on the ground floor, with two double bedrooms and a bathroom upstairs.

Valuer Laura Wiles says it would make a good investment.

“Investors are always looking to add value to properties and this one offers great potential. It is sold as seen, so requires clearing and renovating, but would make an excellent property in a great location which is sure to be in demand from both tenants and first-time buyers.”

Another opportunity to add value to a property can be found in Pleasley, near Mansfield, where 589 Chesterfield Road North has a guide price of £52,000+.

The traditional two bedroomed terrace is in need of upgrading and improvement, although it does have gas central heating and uPVC double glazing. The three-storey property has two reception rooms and a kitchen on the ground floor, two bedrooms and a bathroom on the first floor and an attic room.

Laura said: “This is another great investment property, as it’s close to local amenities and within easy reach of Mansfield town centre, with good transport links. It would make a great addition to a rental portfolio or a first step onto the property ladder.”

Bungalows are popular at auction, too, so auctioneers are expecting a lot of interest in 4 Station Yard, Mansfield Road, Skegby. The detached three bedroomed dormer bungalow is a former railway cottage on an attractive plot with additional land providing potential for future development, subject to planning permission.

The property, which requires some modernisation and improvement, has gas central heating, multi-fuel log burner and secondary double glazing. It features a kitchen diner, hallway, spacious lounge, large shower room and two bedrooms on the ground floor. A galleried landing leads to a large third bedroom and a separate WC. The bungalow has a guide price of £210,000+.

For investors who prefer to start from scratch, a building plot at The Old Butchers Shop, Portland Road, Langwith, provides the ideal opportunity. The plot, formerly a butcher’s shop, stands alone on the end of a row of terraced houses and has beautiful rural views to the rear. It has lapsed planning permission for a two bedroomed dwelling and a guide price of £19,000+.

There are commercial opportunities going under the hammer, too, including a Grade II Listed former bank: 9 and 9a Church Street, Southwell, which has a guide price of £450,000+.

Commercial valuer Nick Trow is excited about the property’s potential. He said: “This is an attractive property with stonework detailing and a large garden of around 0.4 acres at the rear, giving it lots of potential for development for alternative uses, subject to the necessary planning Listed Building permissions, of course. It’s in a great location, too, right opposite Southwell Minster and next to the prime retail area of this popular and affluent town.”

The property comprises the former banking hall, office accommodation, storage, toilets and strong room on the ground floor. On the first floor is a self-contained apartment which has been sold off on a long leasehold basis.

For more information, or for details on bidding by phone, proxy or online, please visit click here.