9th May 2019
Lots across a wide price range offer variety for investors large and small
From a plot of land with a *guide price of just £1,000+ to a thriving garden centre with a guide price of £775,000+, the range of lots going under the hammer at SDL Auctions Graham Penny’s Leicester auction this month couldn’t be more diverse.
The latest Leicester auction catalogue has just been published, featuring houses, apartments, commercial premises and mixed-use properties which will be sold at the King Power Stadium, Leicester, on Tuesday 21 May, as well as dozens of properties which will be sold by online auction.
Carl Finch, senior valuer at SDL Auctions, said: “For any serious investor or private homebuyer looking for the speed and transparency of an auction transaction, our latest Leicester catalogue is a must-read.
“The range of guide prices in this upcoming auction is one of the widest we’ve seen and shows just how different the lots are. It is clear that there is no typical auction property type, just as there is no typical auction seller or buyer.”
The lot with a £1,000+ guide price is Plot 10, Land off Selston Road, Jacksdale, Nottingham, a half-acres rectangular parcel of land with private access across the centre of the site.
At the other end of the scale is Staunton Harold Nurseries & Garden Centre, which has a guide price of £775,000+ and comes with a 10-year lease back to the current owners at an annual rent of £80,000.
Naturally, the majority of lots fall well within the two extremes, such as the first property to be sold on the day; 69 Minehead Street, Leicester, which has a guide price of £100,000+. The three bedroomed semi requires some modernisation but is well placed for the city centre, DeMontfort University and The Royal Hospital, giving it excellent potential both as a family home or a rental property. Once renovated, it could realise around £750 per calendar month.
Houses within a similar price range include 36 Mountcastle Road, Off Narborough Road, Leicester, a two bedroomed terrace with a guide price of £110,000+ which would suit a first-time buyer property or buy-to-let investor, and 50 Fairfield Street, Wigston, a four bedroomed terrace which could be used as a House in Multiple Occupation, subject to planning permission and licensing, and which also has a guide price of £110,000+.
Another property which could be converted to an HMO is 30 Winchester Avenue, Leicester, a substantial five bedroomed, three storey corner villa close to Narborough Road. It has large rooms and its end position provides the potential to add en suite rooms if required. It could yield around £30,000 in combined rent per year if converted into a six or seven bedroomed HMO, subject to permissions – although an Article 4 would not be required in this location. It has a guide price of £235,000+.
Further afield in Coventry, a property which already has a successful history as an HMO is 71 Barras Lane, a vacant seven bedroomed property close to Coventry University and the city centre. Being sold on behalf of the university, the property has six bedrooms, a shared kitchen, two bathrooms and a self-contained studio flat on the top floor with its own kitchen and bathroom. It is in good order throughout and is being sold fully furnished and ready to let, with a guide price of £250,000+.
Apartments going under the hammer include Flat 55, Walnut Gardens, East Leake, a modern two bedroomed top floor home with a guide price of £85,000+, and 16a Sykefield Avenue, Leicester, a one bedroomed apartment with a rear garden and cellar. The latter property is currently let on an assured shorthold tenancy at £450 per calendar month and has a guide price of £65,000+. Both properties are in good condition throughout.
Among the commercial properties going under the hammer are two adjoining mixed-used properties within Leicester’s Golden Mile. 105 Melton Road, Belgrave has a ground floor retail unit and a one bedroomed first-floor flat, while 107 Melton Road comprises the former Why Not bar with a one bedroomed flat above. Both properties require full modernisation and have their own access and yard to the rear. They are being sold separately, each with a guide price of £180,000+.
A smaller commercial investment is 125a Church Lane, Ravenstone, Coalville, with a guide price of £55,000+. The brick-built two-storey commercial unit comprises an office and storage/workshop space but has the potential to be reconfigured to open up the space further. It was rewired in 2015 and is in good order throughout.
Carl added: “As you can see, the range of properties going under the hammer is extremely varied and we would urge anyone considering an investment to take a look at our new catalogue.
“Whether you are a developer looking to add value to a refurbishment property, a landlord wanting to add to a residential or commercial portfolio, or a private buyer looking for a new home, our catalogue provides you with plenty of choice.”
SDL Auctions Graham Penny, the most successful property auctioneer in the East Midlands, will hold its third Leicester auction of the year at the King Power Stadium, Leicester, on Tuesday 21 May. To find out more about any of the properties, or for information on bidding by phone or online, 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.