Your next investment could be just a bid away
National Property Auction
Thursday 26th September 2024 at 9:00am
Welcome to our September auction catalogue
Andrew Parker
Managing Director & Auctioneer at
SDL Property Auctions
I’m delighted to launch our September catalogue and share the news that Edward Feather will be joining me on the rostrum for the auction on Thursday 26th September. With over 230 lots to be offered, it’s going to be a very busy day for both us and the auction team.
One of the reasons I love auctions is the wide range of properties we sell under the hammer, and this month is a brilliant example.
Amongst the 230+ lots in our live streamed auction is a reservoir site in Port Talbot, a nuclear bunker in Buxton and an abandoned hotel in Dunoon, Scotland. Plus, as always, we’ve got dozens of residential investments, commercial opportunities, development projects and rental properties.
Why not get involved in the auction action and watch live online and for free HERE. The link will also be on our homepage on auction day. Don’t forget you only have to log in if you’re bidding online.
Lot 1
- Nuclear Bunker, Land East Of Longridge Lane, Wormhill Near Buxton, Derbyshire SK17 8AE
- Guide price*
- £15,000 - £20,000 (plus fees)
We’re kicking off the auction with a lot that has already attracted significant press interest – a nuclear bunker in Wormhill Near Buxton. With a guide price of £15,000-£20,000 this Royal Observer Corps nuclear bunker was built in the 1950s and is one of only 1,500 ever built. While this lot is most definitely, a rare opportunity to purchase a part of British history, this is the third nuclear bunker we’ve offered for sale in the past three years!
Lot 21
- Brombil Reservoir, Brombil, Margam SA13 2SR
- Guide price*
- £20,000 - £25,000 (plus fees)
In Wales we have another unique bidding opportunity. The Brombil Reservoir is a man-made reservoir within a valley on Margam mountain. The turquoise waters surrounding by hills forests and neighbouring Margam Country Park make this a very picturesque location. It has a guide price of £20,000-£25,000 and we feel the site offers revenue potential for lodges/glamping, wildlife tourism, education and or fishing, subject to obtaining appropriate planning consents.
247 Marine Parade in Dunoon is a former hotel, previously the grand residential property of Sir Thomas Lipton, founder of Lipton Tea. This distinguished 10 bedroomed property, listed for its historical significance, occupies a 0.42-acre site and offers over 4,000 square feet of living space, providing uninterrupted views of the Firth of Clyde along with the surrounding hills and countryside.
Lot 99
- 247 Marine Parade, Hunters Quay, Dunoon PA23 8HJ
- Guide price*
- £430,000+ (plus fees)
There’s something for all budgets in the auction, including three lots with guide prices of £1+ each – land off Cleavers in Cranbrook, Plot 122 in Keston and Land near Battlefield Road in Shrewsbury. If your budget stretches further then we have an investment property at 25 Institute Road in Birmingham which is generating an income in excess of £100,000pa and has an HMO license in place for 10 individuals.
You can browse all the lots in our September National Property Auction here.
Once you’ve found a lot you’re interested in, it’s really easy to book your viewing and download the legal pack. Simply go to the property listing on our website and select the relevant option.
Our next National Property Auction is on Wednesday 23rd October. You can click here to request a free valuation.
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These differences are listed below. Please also note that the reservation fee does not contribute towards the purchase price, and that any further additional costs, which are payable in addition to the purchase price, will be included within the Special Conditions that are attached to the Contract.
To make sure you are fully aware of all associated costs, we strongly advise that all prospective purchasers inspect the legal pack thoroughly themselves and request a legal representative review it too.
Unconditional: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay the applicable deposit and Buyer’s Fee stated on the property description, both of which are non-refundable. The deposit contributes to the purchase price. The Buyer’s Fee does not contribute to the purchase price. Completion must take place usually within 30 days, unless the Special Conditions of Sale within the legal pack state otherwise.
Conditional: On the fall of the hammer, the successful bidder will enter into a reservation agreement with the seller. This agreement confers an exclusivity period of 60-days on the successful bidder, in which to exchange contracts and complete the purchase. The non-refundable Reservation Fee will be payable to us immediately on the fall of the hammer, the amount of which will be stated on the property description. This fee does not contribute to the purchase price. The deposit will be payable later on exchange of contracts via your solicitor. You must make every effort to exchange contracts of sale and complete the purchase within the 60-day exclusivity period, unless the Special Conditions of Sale within the legal pack state otherwise.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead. This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration
Bidding registration closes at 5pm the day before the auction.
Registering to bid in one of our National Property Auctions is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
If there’s one thing that investors all have in common, regardless of sector, it’s a shared priority for profitability – and property investors are no different. While they may be putting their money into a physical property rather than a business’s stock profile or a start-up company’s initial funding pot, putting profit first still remains an essential consideration for any savvy investor.
When it comes to property investing through buy-to-lets, one of the first questions is ‘what is the most profitable type of property?’ There’s no easy answer to this question (if there were, surely no one would ever diversify their property assets), but that hasn’t stopped us from doing our share of the research to help guide the potential property investors that attend our auctions in the right direction. We’ve considered the profitability of renovate-and-resell properties, traditional buy-to-lets and even holiday rental lots, but what about houses of multiple occupation (HMOs)?
To read the full article click here.
Remember to tune in!
Our National Property Auctions are broadcast online, live from our auction studio in Nottingham.
It’s really easy to tune in and watch on the day. The auction begins at 9am and will run throughout the day, with our each of our auctioneers taking to the rostrum. Simply visit our website where you’ll be able find a link to the auction on the day or follow the link below!
If you’re planning on bidding at auction, it’s really important that you do your due diligence prior to the auction – part of which is reading our buyers terms which you can find below. Make sure to read them in full to ensure you’re prepared to bid.
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Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Homes under the Hammer
If you’re successful in this month’s auction, you could take part!
The hit TV show Homes under the Hammer are always looking for properties to feature in upcoming episodes. If you’re interested in taking part in the programme or would like any information about what is involved in taking part please call 07966 167076 or 07814 079910 or alternatively click below to contact them via email.
Legal Packs
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction.
To view the legal pack, find a property you’re interested in using the list linked below, and select ‘legal pack’ on the right-hand panel.
