17th June 2020
SDL Auctions to sell 31-property portfolio with prices as low as £5k
A portfolio of 31 homes is among the lots being sold by SDL Auctions in its national property auction this month.
With *guide prices as low as £5,000+, the properties in the North East will be sold as individual lots on behalf of an international corporate client.
Head of auctions north west Andy Thompson said: “We are delighted that we have been asked to sell this large portfolio of properties during what has been a challenging time for the whole of the property industry.
“We see this as further confirmation of how the company has consolidated its place in the market since launching here in the North West just three years ago.”
“The company has gone from strength to strength and, by continuing to operate consistently throughout the lockdown period, we are selling in one month what we’d normally sell in two – effectively doubling our lots and generating the highest amount of income for sellers in the region since we began.”
During the coronavirus crisis, monthly national property auctions have been held in place of SDL Auctions’ usual auction at the AJ Bell Stadium in Manchester.
Andy added: “Our national property auctions enable us to reach the widest possible audience and are growing month on month. In June we have more than 160 lots and ours will be the largest live-broadcast auction in the country.”
The portfolio of 31 properties comprises a mix of houses, bungalows and flats, both tenanted and vacant, with guide prices ranging from £5,000+ to £25,000+, all sold subject to a lease.
15 Hawthorne Terrace in West Cornforth, Ferryhill
A two bedroomed mid-terraced property requiring some renovation, with a guide price of £5,000+. It comprises a lounge and kitchen diner on the ground floor, with two bedrooms and a bathroom upstairs. Outside is a rear yard.
132 Helford Road in Peterlee
A tenanted flat on the second floor within a purpose-built development in a well established location. With a guide price of £5,000+, the property features a lounge, kitchen, two bedrooms and a bathroom.
17 Fairport Terrace in Grants Houses, Horden, Peterlee
A two bedroomed mid-terraced bungalow which is currently tenanted and has a guide price of £22,000+. It comprises a lounge, kitchen, two bedrooms and a bathroom, and has a garden at the front of the property.
36 Gray Road in Hendon
A Victorian terraced house requiring full renovation and currently arranged as two self-contained flats. Each of the flats occupies one floor and features a lounge, two bedrooms, bathroom/shower room. The guide price is £22,000+.
Andy said: “All of these properties offer great potential for buy-to-let landlords as they would make excellent additions to a rental portfolio, with the option to bid – and even buy – multiple properties. The vacant properties are also ideal for first-time buyers, representing an affordable way to get on the housing ladder.”
The properties are due to be sold in the Tuesday 30th June auction, which will be broadcast live over the internet. Managing director and auctioneer Andrew Parker will be at the rostrum, accompanied in the auction studio by a small staff team, working at a safe distance from each other, while a wider team works remotely, handling telephone bids.
Last month’s auction, featuring 127 lots, took place over the course of seven hours and brought the total raised for sellers during the month to £16.2 million. Since the start of the lockdown period, SDL Auctions has sold well over 250 lots and raised more than £31 million for sellers, with lots selling for an average of 16% above their *guide prices.