Property

September auctions – real estate auctions to increase income …

If you are most interested in residential opportunities, on Market Street in Soham is a large property converted into eight individual apartments. This is expected to sell for £430,500 and generate rental income of £43,500.


A major residential building which is currently being developed into a five-bedroom multi-occupancy house and a separate one-bedroom apartment will also be auctioned. This building in Littleport produces £32,760 a year and is expected to sell for £250,000. At a slightly higher guide price of £360,000, an eight-bedroom single-storey property on a two-acre site could also be considered.


Those hoping to seize a rare opportunity might consider a Methodist Church in Coveney. For £120,000 to £150,000 the main hall, meeting room, kitchen and garden on a 0.1 acre plot could be acquired.


Investors with a larger budget might consider a parade of Grade II listed commercial properties on Saffron Walden High Street. These buildings have been previously refurbished and maintained to a high standard, offering a solid investment with a guaranteed return, and are estimated to sell for between £425,000-450,000.


A mixed-use property in Cambridge with two self-contained residential apartments and ground floor commercial space also costs £395,000, but will require extensive renovation.

Land at auction?


Real estate auctions are not only ideal for buying buildings at low prices, but they can also be used to buy land at excellent prices.


Before committing, it is essential that investors ensure that the land is suitable for the construction projects they are considering.


On Wednesday, September 21, 13 courts will be offered. The largest parcel is 34.77 acres of arable land near Thetford in Norfolk, with an estimated indicative price of between £320,000 and £350,000.


Meanwhile, 3.11 acres of farmland and woodland, plus a range of traditional farm buildings, are also up for auction for between £60,000 and £70,000.


Ian Kitson, Director of Cheffins, commented: “Revenue-generating opportunities should be most sought after at the September auction, as flexible and solid yields become increasingly attractive during periods of financial market volatility and other investment opportunities. We’ve seen a growing number of investors heading to the auction room, looking to expand their portfolios as global uncertainty continues to push people into traditional investment vehicles.”


“Furthermore, land opportunities are constantly sought by a range of buyers, as farmers seek to increase their holdings and private investors and buyers also seek to tap into this stable market.”