20th March 2020
The ultimate des res is near a budget supermarket: here are five which fit the bill
Landlords are being urged to invest in properties close to a budget supermarket, following news that more than half of young adults see this as a major consideration when searching for a new home.
SDL Auctions Bigwood has cherry-picked five properties which are all within five minutes’ drive of an Aldi, Lidl or Iceland supermarket – and all going under the hammer in its Wednesday 25th March auction.
According to a report by Landlord News, 39% of adults prefer to live close to a budget supermarket, with 54% of 18 to 24-year-olds expressing the wish.
Vejay Pal, Head of Auctions West Midlands at SDL Auctions Bigwood, said: “The weekly shop is a big part of any household budget, so it’s no surprise that people are keen to keep costs down.
“But this isn’t just a piece of interesting research; it is vital information for buy-to-let landlords as the preference for budget supermarkets is particularly strong among younger adults, who are more likely to rent than buy. Our advice would be to seek out properties near a budget supermarket if you want to give your rental property that extra edge.”
Out of dozens of properties suitable for landlord investors, Vejay has hand-picked five homes to be sold at SDL Auctions Bigwood’s second auction of the year, which will take place behind closed doors to limit social contact, with buyers having a choice of remote bidding options.
417 Willenhall Road in Wolverhampton
This well-presented one bedroomed flat is less than a mile from Aldi and only a little further (1.3 miles) to the nearest Lidl. In fact, residents are spoilt for choice as within a 15-minute drive there are no fewer than seven Aldis, seven branches of Iceland or its sister supermarket, The Food Warehouse by Iceland, and six branches of Lidl.
The leasehold property is vacant and features an inner hallway, lounge, kitchen, bedroom, bathroom and balcony. Outside there are communal gardens. The *guide price is £58,000+ and Vejay says it could achieve a monthly rent of £500.
88 Wiggin Street in Ladywood
Just half a mile from Lidl, within two miles of two branches of Iceland and just over two miles to the nearest Aldi, this three bedroomed terrace is also close to schools, amenities and transport links. The freehold property is vacant, requires full renovation and features two reception rooms and a kitchen on the ground floor, with three bedrooms and a bathroom upstairs. It has gardens front and rear and a guide price of £50,000+.
70 Whitegates Road in Bilston
The new residents of this leasehold three bedroomed apartment will have a choice of Lidl, Aldi or Iceland within two miles of the property. The apartment is also within a mile of Coseley railway station, making it ideal for commuters.
Featuring a hallway, lounge, kitchen, three bedrooms and a bathroom, the property is vacant and requires modernisation but, once completed, could yield a monthly rental income of £600. It has a guide price of £47,000+.
10 Talbot Place in Bilston
Just over half a mile from Lidl, less than a mile to Iceland and just over two miles to the nearest Aldi, this freehold mid-terraced house provides the budget shopper with plenty of choice. It also has good transport links with the Black Country Route nearby and is close to local amenities.
The vacant property, which requires modernisation and improvements, has a lounge and kitchen on the ground floor, with four bedrooms and a bathroom upstairs. Outside it has a paved driveway with space for two cars, and a rear garden. The guide price is £110,000+.
38 Tong Street in Walsall
Just half a mile from Lidl, with Iceland just 1.3 miles away and Aldi within 15 minutes’ drive, this two bedroomed terrace house is also within easy reach of Walsall town centre and other local amenities.
The ground floor comprises two reception rooms, a kitchen, walk-in shower room and rear lobby, while upstairs there are two double bedrooms. It has an enclosed rear garden which is partially laid to lawn and the guide price is £55,000+.
These are just a few of the many properties going under the hammer in SDL Auctions Bigwood’s next auction on Wednesday 25th March via video feed. You can book a viewing of any of the properties as normal, or watch video tours on a new, dedicated YouTube playlist. To register to bid by telephone, online or by proxy, click here, submit the form and a member of the team will call you back.