14th July 2020
Substantial investment opportunities in high-value auction properties
Two high-value freehold properties on the edge of Leigh town centre are expected to attract a great deal of attention from investors when they go under the hammer with SDL Auctions this month.
Comprising a combination of retail units and residential accommodation and within a two-minute walk of each other, the two properties will be sold by the UK’s most successful live-streamed property auctioneer* on Thursday 30th July.
Andy Thompson, head of auctions North West said: “Both of these properties offer incredible opportunities for the serious investor with significant earning potential. The town has been undergoing regeneration in recent years and is becoming an increasingly desirable place to live.”
100 Lord Street in Leigh, which has a **guide price of £1,250,000+, is a substantial, part-tenanted, mixed-use investment property currently producing over £112,00 per year, which could be increased to approximately £153,500 when fully let.
Located at the junction of Lord Street and Brown Street North and within a mainly commercial area, the three-storey property features eight units ranging from 207 square feet to 685 square feet on the ground floor, and a series of 23 apartments spread across the upper two floors.
Each apartment has an open plan lounge/kitchen and a bathroom or shower. The majority have one bedroom, with two studios and three apartments with two bedrooms. Outside there is a small rear yard with parking.
Just around the corner is 123 Bradshawgate, a 4,035 square feet freehold investment property producing over £74,700 per year. The guide price is available on application.
This is another three-storey semi-commercial investment property and features a combination of retail units, apartments and storage.
The ground floor comprises a beauty salon with four treatment rooms, kitchen and WC; a tea room with small preparation area and WC, a tattoo studio with kitchen and WC, a florist with kitchen and WC facility, and a clinic occupying two units and comprising two sales areas with two partitioned treatment rooms, two kitchens and WC facilities.
There are eight apartments spread across the first and second floors; two with one bedroom and two with two bedrooms on each floor. Each apartment has an open plan lounge/kitchen and a bathroom or shower room.
In addition, the basement features 10 storage rooms and there is a small yard providing seven parking spaces.
The properties are close to retail units including hair salons, cafés and Iceland supermarket, with a large retail and leisure development which includes Cineworld, Frankie and Benny’s and Nando’s nearby.
Transport links are excellent with direct buses to Manchester city centre and rail connections Atherton Railway Station, which is just under three miles away.
Andy added: “This is an excellent place to invest. Zoopla’s latest cities house price index shows the rebound in sales is being led by cities in the north of England, so now could be a prudent time to buy.”
The properties will be sold in SDL Auctions’ next national property auction, which replaces its room auctions held at the AJ Bell Stadium in Manchester. Since switching to live-streamed auctions with remote bidding only at the start lockdown, SDL Auctions has raised more than £55 million for sellers.
To find out more about either of the Leigh properties, or to discuss selling your own property in the 30th July auction, click here or call the team on 0161 774 7333.