31st July 2019
Nottingham property auction provides opportunities for investors and private buyers
A must-read for both property investors and private buyers, the latest auction catalogue from SDL Auctions Graham Penny is out now, featuring 31 varied lots, including seven being sold online.
The catalogue showcases a wide variety of properties, most of which are due to be sold at the auctioneer’s fourth auction of the year, which takes place at Nottingham Racecourse on Friday 9 August.
The first lot of the day is always one to watch and 22 Bentwell Avenue, Arnold is likely to attract a great deal of interest, particularly from buy-to-let landlords looking to boost their portfolios.
The three bedroomed semi-detached house, which has a *guide price of £90,000+, is in need of refurbishment but, once renovated, is likely to appeal to family tenants as it is within easy reach of Arnold’s amenities, bus routes and schools.
Valuer Laura Wiles believes the property will be a great way to get the auction off to a lively start.
“There is so much scope here to add value to this property and, once completed, it will make a lovely family home. It offers good-sized accommodation and plenty of outdoor space for children to play, so is sure to prove popular both on the rental market or with private buyers.”
The Arnold property is just one of several homes which are ripe for renovation, providing the opportunity for investors and developers to add value or for private buyers to take on a project.
Another example can be found in Pleasley, near Mansfield, where 9 Grove Cottages is a two double-bedroomed end-terraced house which needs modernisation but has uPVC double glazing and gas central heating. It has a lounge, dining kitchen, rear hall and bathroom on the ground floor with two double bedrooms upstairs. Outside there is a paved front garden and a small yard to the rear with space for one car. The property has a guide price of £46,000+.
But not all of the homes going under the hammer are refurbishment properties; some are well presented and ready to move into or let, such as 150 Walcote Drive, West Bridgford, which was previously let at £550 per calendar month but has the scope to realise a monthly income of at least £650. With a guide price of £215,000+, the three bedroomed semi would make an excellent investment as it is well presented and in a popular residential and school catchment area.
There’s the opportunity to develop part of the site at 14 Victoria Road, Pinxton, a spacious semi-detached house which has a separate building plot with outline planning permission for a new single dwelling behind the existing property.
Sitting on a large plot, the two double-bedroomed property comprises an entrance hall, lounge, dining room, kitchen, breakfast room and conservatory on the ground floor, with two double bedrooms and a bathroom on the first floor. There is off-road car standing and a low-maintenance rear garden. The guide price is £132,000+.
For those looking for a larger investment, 35 Dorket Drive, Wollaton, could fit the bill. The five bedroomed student House in Multiple Occupation has a guide price of £250,000+ and previously realised an annual rent of around £20,000. Two of the five double bedrooms are already let from 1 August for the next academic year, at a monthly rent of £391 and £411. The property has gas central heating, double glazing and off-street parking and is in a prime location within walking distance the Queen’s Medical Centre and the University of Nottingham.
Laura added: “This is a fantastic investment opportunity as it’s in such a great location. And with two of the rooms let already, the landlord who buys this property will be off to a flying start.”
You don’t need to attend the auction to bid on any of the properties, as bids can be taken over the phone, by proxy or online. To find out more about bidding by any method, or for information on any of the properties, please click here.