22nd November 2019
Run-down chalet is the star of the day at Nottingham property auction
A chalet-style detached property tucked away on the edge of Hucknall proved to be the star of the show at SDL Auctions Graham Penny’s sixth Nottingham auction of the year at Nottingham Racecourse yesterday.
Despite requiring full renovation, 71 St. Marys Way in Hucknall sold for £166,500 from a *guide price of £75,000+.
Auctioneer and managing director Andrew Parker said the property is an investor’s dream.
“With its overgrown garden, boarded-up windows and grass growing on the roof, this property may not look much on the surface, but it sits on a deep plot, which backs onto allotments in a quiet corner of Hucknall. The site is ideal for future development, subject to the usual planning permissions, which is, I believe, why the property proved so popular with bidders.”
The chalet was the final lot of the day at Nottingham Racecourse, ending the auction on a high note. But there were plenty of other successful sales beforehand.
Getting the auction off to a great start was another renovation project; 18 Cookson Street in Kirkby in Ashfield. The spacious three bedroomed semi-detached property has a kitchen, two reception rooms and a downstairs bathroom, with two double bedrooms and a single upstairs. It is well placed for transport links and amenities and sold for £56,500 from a guide price of £36,000+.
Andrew said: “Renovation properties such as this are always popular at auction, as they provide the buyer with the opportunity to add value before selling on or letting to tenants.”
Closer to Nottingham, another refurbishment project proved popular with bidders. 32 Highbury Road in Bulwell, is a three bedroomed mid-terraced property close to local amenities.
The spacious home has gas central heating and double glazing, as well as gardens front and rear. It is in an area popular with landlords, investors and first-time buyers and, once renovated, auctioneers believe it could achieve a rental income of around £600 per calendar month. It sold for £90,000 from a *guide price of £65,000+.
There were properties for those who prefer to leave the refurbishments to others, too, including 4 Ashfield Road in Huthwaite, Sutton-In-Ashfield, which is currently vacant but was recently let at £475 per calendar month.
The three bedroomed end-terrace is fully double-glazed and has gas central heating, with a modern fitted kitchen, dining room and lounge on the ground floor, two bedrooms and a shower room on the first floor, and a third bedroom in the attic. It sold for £75,000 from a *guide price of £65,000+.
Among the commercial and development opportunities which went under the hammer was an extensive brownfield site in Langley Mill which sold for £120,000 from a guide price of £110,000+
Langley Marina Site, Derby Road in Langley Mill previously had outline planning consent for a marina, a hotel and nine apartments, which has now lapsed, but would suit a variety of redevelopment opportunities.
Andrew said: “This is an excellent investment which would be suited to a variety of uses, subject to planning permission. Its location next to the A610 with direct links to the M1 makes it ideal for redevelopment but it would also be suitable for storage land. I look forward to seeing what the new owner does with the opportunity.”
The speed and efficiency of auction means contracts were exchanged at the fall of the hammer and property purchases will be completed before Christmas.
And there’s still time to secure a sale of your own property, at the final Nottingham auction of the year on Thursday 19 December. There’s no fee to enter your property in the auction, so Andrew says you have nothing to lose:
“We’ll give you a free, no obligation auction appraisal, you can enter your property into the auction for free and we’ll give you all the guidance you need. Plus, all properties sold in the auction will exchange contracts immediately securing the sale before Christmas, with no waiting around and virtually no risk of the sale falling through. It’s the fast, hassle-free way to sell a property.”
You can request a free, no obligation auction appraisal by clicking here or calling 0115 958 8702.