27th August 2019
Variety is the key to a lively property auction
The collection of commercial and development properties in the latest catalogue from SDL Auctions Graham Penny could be the most varied yet – with lots as diverse as a former school, a cat café and an equestrian facility.
The 60-page catalogue has been released ahead of the property auction at Pride Park Stadium, Derby, on Thursday 5 September; the fifth of the year for the East Midlands’ most successful auctioneer. Featuring a range of commercial properties, land, houses and flats, it includes 47 lots to be sold under the hammer and a further nine properties being sold by online auction which are open for bidding now.
Among them are a former school in Long Eaton with a *guide price of £275,000+. Parklands Connexion, Stanhope Street, is an extensive property with the potential to produce an annual rental income of £81,000 and Erewash Borough Council is currently considering a planning application for change of use to 13 apartments.
Built as a school in the early 1900s, the single-storey freehold property has since been converted to offices and day care facilities. It currently features a reception area with canteen, day care centre, six offices, two large meeting rooms, two storage rooms and toilet facilities. Outside there is parking for around 12 vehicles.
It’s a property with much to offer, according to commercial valuer Nick Trow, who said: “This is an excellent investment opportunity. Whether you continue to run the premises as offices or develop the site, subject to consent being granted, it has the potential to provide a healthy return and would be a great addition to a property portfolio.”
One lot which is attracting interest is Hollies Farm Stables, Spondon Road, Dale Abbey, which include a block of 25 stables, a manège and 14 acres of land. The lot, with a guide price of £205,000+, is being sold alongside separate lots in the same location, including Hollies Farm Cafe, which has a guide price of £185,000+, and various lots of paddock and pasture land next to Locko Park.
Other lots include a former old people’s home in Long Eaton, which has been vacant since 2015. The former Southlands Home for Older People, 21 Main Street, is an imposing Victorian property retaining many original architectural features and has excellent development potential, subject to planning permission. The guide price is £295,000+.
Investors looking for a retail outlet to add to a commercial property portfolio will find a ground-floor fabric shop at 207 Mansfield Road, Nottingham, with a guide price of £40,000+. The leasehold property is currently let on a five-year occupational tenancy which runs until August 2021, producing an annual rent of £6,600.
And those with their sights on something larger may have their eye on 15 Market Street, Castle Donington, a Grade II listed office building with 15 offices arranged over three floors. The property is in excellent condition, with attractive architectural features such as a period fireplaces and distinctive arched doorways, and has a guide price of £290,000+.
Nick added: “These are just a handful of the commercial properties going under the hammer in Derby. If you want to invest in something a little out of the ordinary, then auction is the place to be.”
To see the full range of properties going under the hammer, as well as those being sold via online auction, please visit www.sdlauctions.co.uk, where you will also find information on bidding online, by telephone or by proxy.