12th April 2019
Large portfolio of refurbishment properties snapped up at auction
A portfolio of mostly terraced houses proved popular at the SDL Auctions North West auction at the AJ Bell Stadium in Manchester as investors snapped up the opportunity to add value to refurbishment properties.
Broken up into separate lots, the portfolio featured terraced houses, flats and a commercial property in Barnsley, plus a single-storey dwelling in Sheffield.
Among them were three terraced houses in Barnsley which have been split into two self-contained flats. 82 & 84 Pontefract Road, an end-terrace, sold for £90,000 from a *guide price of £64,000+, 82a and 82b Summer Lane, a mid-terraced property, sold for £51,000 from a guide price of £45,000+ and 316 Doncaster Road, another mid-terraced house, sold for £52,000 from a guide price of £41,000+.
Several of the portfolio properties have previously been let on a multi-occupancy basis but now require renovation, including 202 Sheffield Road, Barnsley, which sold for £67,000 from a guide price of £55,000+, 232 Doncaster Road, Barnsley, which sold for £75,000 from a guide price of £55,000+, and 37 Farrar Street, Barnsley, which sold for £60,000 from a guide price of £50,000+.
The commercial property, 130 & 132 Sheffield Road, sold for £37,000 from a guide price of £34,000+, while the Sheffield property, 37 Towngate and land to the rear of 37 Towngate in Turlstone – a one bedroomed single storey dwelling with a separate plot of land to the rear – sold for £42,000 from a guide price of £15,000+.
Andy Thompson, head auctions at SDL Auctions North West, said: “We were pleased to have the opportunity to sell this portfolio of properties and were delighted to get such great results, raising £474,000 for the seller.
“These results show that the demand for terraced properties requiring renovation remains high, as landlords and investors look to add value to their properties before letting them to tenants or selling them on. Either way, our buyers are providing a great service by making run-down properties into habitable homes once again.”
Two more refurbishment opportunities came from Liverpool, where two three-storey homes went under the hammer. Both have the potential to be transformed into Homes in Multiple Occupation, subject to the relevant permissions and licensing, and ultimately provide a good rental income.
38 Huntley Road, a link detached property with two reception rooms and five bedrooms, sold for £140,000 from a guide price of £91,000+, while 1 Chatsworth Avenue, Orrell Park – which has four reception rooms, with two bathrooms and six bedrooms on the upper floors – sold for £144,000 from a guide price of £91,000+.
One of the star lots of the day was a detached house in Wirral which finished the auction with a bang after a bout of enthusiastic bidding. 27 Jubilee Drive, West Kirby, a three bedroomed detached family home requiring modernisation sold for £152,000 from a guide price of £90,000+.
Andy added: “It was a satisfying end to another successful day in the auction room. It’s good to know that all of these properties are now going to enjoy a new lease of life and provide much-needed homes for people. It’s also good to know that our buyers and sellers will enjoy the hassle-free sales process that auction offers, with no risk of fall-throughs and no lengthy delays.”
Entries are now invited for the next SDL Auctions North West auction at the AJ Bell Stadium in Manchester on Wednesday 5 June. Properties will be featured in a bumper two-venue auction catalogue, which will include lots to be sold by SDL Auctions Cheshire & North Wales at Chester Racecourse on the same day, plus dozens of lots being sold at online auction.
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