16th August 2022
Plenty of investment opportunities in SDL Property Auctions’ August catalogue
There’s a heatwave of opportunities to be found in SDL Property Auctions’ August catalogue, with over 175 properties from across the UK up for grabs in this month’s National Property Auction.
In Nottinghamshire, there is a fantastic opportunity for a buyer to put their own finishing touches on a home that has already been partly renovated, with 40 Trowell Grove. Located in the popular residential location of Trowell, once works are completed this property could be suitable for resale, rental or even a family home for the buyer to move into. With a guide price of £79,000+ plus fees, this is a rare opportunity to acquire a property with such potential.
Managing Director and Auctioneer Andrew Parker said: “Properties such as this are always incredibly popular at auction, especially with those looking for their first refurbishment project. With the works being partly completed, it keeps some of the pressure off of the project (and the budget smaller) to get the property to its finished state. Viewings are already filling up for this one, and it’ll be exciting to see what it makes on the day – even more so to see what the lucky buyer does with it after the auction.”
A property in need of a little more TLC can be found in the West Midlands – 96 Richmond Hill in Oldbury is in need of a scheme of modernisation and renovation works. Currently undergoing clearance, the property will be fully vacant upon completion, giving the future buyer full reign on what direction they take. With three bedrooms and a blank canvas to work from, the property has a guide price of £100,000+ plus fees, making it perfect for anyone looking to get on the property ladder or add to their investment portfolio.
Anyone hoping to make their first investment purchase in the coming weeks should look no further that Flat 4, 1 Cole Street in Prenton. This one bedroom, third floor flat, benefits from a remaining lease of 968 years and a service charge of £50 per annum. Located to the north west of Birkenhead town centre, we believe the property to have a potential rental income of £400-450pcm, based on comparable evidence. While the property could benefit from a few cosmetic repairs, a rental income of £450pcm would mean a potential yield of 54% based on the guide price of £10,000+ plus fees.
On the other hand, a property already benefitting from rental income can be found at 170 Harrow Road in Leicester. This is beautiful bay fronted property, which offers spacious accommodation throughout. Currently let on a rolling, periodic AST at £795pcm (£9,480pa.) this would mean a rental yield of 6.15% based on the guide price of £155,000+ plus fees. Located in a popular residential area, and in walking distance of various amenities, as well as the King Power Stadium, De Montfort University and Leicester Royal Infirmary, this is sure to be a popular property offered for sale in partnership with Barkers.
Finally, in Bournemouth, we find a pair of holiday apartments, being offered for sale in partnership with Sourced. Flat 1 and Flat 9 in Exchequer Grange are both currently managed by Guest Stays as serviced accommodation by the current owner. The currently daily rate being charged is £85-90, and with an occupancy rate of approximately 77%, means a potential income in excess of £24,000 per year (a 25% yield). Anyone looking to add holiday properties to their investment portfolio should look no further, with both properties being offered at a guide price of £95,000+ plus fees.
Andrew continued: “With more and more people looking for their own holiday escapes a little closer to home, these properties are sure to be popular holiday stays in the coming years, making these great investment opportunities for the right buyer. If the buyer chooses to maintain the existing management relationship too, then these should be relatively low-effort properties too.”
These are just a few of the opportunities being sold in August through SDL Property Auctions, with the August National Property Auction featuring a great range of homes, apartments, commercial properties, land and more, suiting every requirement and budget.
The National Property Auction on Thursday 25th August will be live streamed via the SDL Property Auctions website with bids placed online, on the phone and by proxy. Bidding registrations must be submitted before midday on Wednesday 24th August by clicking here. For more information on any of the properties, click here or call the team on 0800 046 5454.