25th January 2021
Why buy one house when you could own the whole street?
Why buy one property when you can own in the whole street? This is not an opportunity which arises every day so auctioneers are urging investors not to miss out on six lots which are going under the hammer this month.
The historic properties in Market Drayton, Shropshire, are being sold as individual lots by SDL Property Auctions in its January National Property Auction but valuer Jim Demitriou believes they will attract buyers looking to secure two, three or even all six of them.
Jim said: “Savvy investors appreciate the benefits of pur0chasing properties close to each other for convenience but the fact that all six of these are actually adjoining is a huge advantage for maintenance. They also provide benefits from a planning point of view, in relation to the two development properties.”
The six lots comprise four one bedroomed terraced houses and a further two development opportunities with full planning permission for conversion to homes.
Adjoining each other in an attractive street, the four red brick character houses have all been newly and sensitively created from a row of redundant buildings, which were believed to have been used as a theatre in the 18th and 19th centuries.
4 Cross Street in Market Drayton: Currently let at £260 per calendar month on an assured shorthold tenancy, which is due to be renewed and has the potential to be raised to around £5,000 per year. The *guide price is £50,000+.
5 Cross Street: Currently let at £400 per calendar month. The guide price is £50,000+.
6 Cross Street: Currently let at £425 per calendar month. The guide price is £50,000+.
7 Cross Street: Currently let at £350 per calendar month on an assured shorthold tenancy, which is due to be renewed and could be raised to around £5,000 per year. The *guide price is £50,000+.
In addition, there are two further lots with residential development potential. These have a Stafford Street address but are still part of the same block.
At the corner of Cross Street, fronting Stafford Street, a former plumber’s shop provides an opportunity to create three homes across three floors. 28 Stafford Street has full planning permission for three houses; two with two bedrooms and one with one. The guide price is £80,000+.
The final development opportunity can be found behind this building, fronting Cross Street. The building rear of Stafford Street has full planning consent for conversion to three one bedroomed houses and a guide price of £60,000+.
Jim added: “All six lots provide excellent opportunities. As well as the investment potential they provide for landlords, the attractive price of the terraced houses means they will also appeal to first-time buyers. Whoever buys these homes will own a part of Market Drayton’s history in an attractive part of town with all the amenities they could need right on the doorstep.
“The development properties provide the perfect opportunity to provide much-needed homes in this desirable market town and provide the potential for great returns on the initial investment.”
The six lots will be sold by SDL Property Auctions, the UK’s most successful live-streamed property auctioneer, in its January National Property Auction on Thursday 28th January. The auction will be held behind closed doors with a live auctioneer on the rostrum with bids online, on the phone or by proxy.
For more information on any of the properties, or to find out how you could sell your own property, please visit www.sdlauctions.co.uk or call the friendly team on 0800 046 5454.