With guide prices starting from just £25,000, expect bargains galore at Allsop’s property auction in London this week.
The number of home sales is likely to increase significantly over the next few weeks as the housing market approaches the busy spring property-selling season.
It’s no secret the property market slows down over the festive season. But the property auction sector is also quiet in January with just a handful of sales taking place around the country. But with February upon us, market activity levels are about to pick up once more, with no fewer than 90 property auctions set to be held across the UK over the next fortnight.
Allsop Residential’s sale in London this week will be the largest auction to be held in February. The bumper catalogue for the sale, which will take place at the InterContinental Hotel in Mayfair, central London, features 304 properties across the country, with lots of potential bargains to be had.
February’s catalogue comprises 26 lots at £1 million-plus, ranging from a castle in a seaside location to large scale redevelopment opportunities, while at the lower end of the market, houses start from just £25,000.
Richard Adamson, partner and auctioneer at Allsop, said: “This first catalogue of the year comprises a wide spectrum of investment and development opportunities from a variety of sellers. Despite the political backdrop, we anticipate lots that are sensibly priced to remain highly attractive to investors in the room.
Highlights to look out for:
Under £50,000
Liverpool: Lot 203 is a two-bedroom terrace house on Holmes Street in Liverpool, L8. Guide price: £25,000.
Ayrshire: Lot 209 is a three-bedroom house on Blarene Drive, Cumnock, Ayrshire, KA18, which is currently owned by a buy-to-let investor. The property is let on an Assured Shorthold Tenancy, at an annual rent of £5,200 per annum, equivalent to £100 per week. Guide price £25,000.
£50,001-£100,000
St Leonards-on-Sea: Lot 28 is a lower-ground floor one-bedroom flat situated within a semi-detached converted block. The flat is currently occupied by a tenant on a Regulated Tenancy, generating £4,530 a year in rental income. Guide price: £65,000.
Tyne and Wear: Lot 267 is an end of terrace house on Bowness Avenue in Wallsend, Tyne and Wear, NE28, which features three bedrooms. The property is currently rented out on an Assured Shorthold Tenancy, on a rent reserved at £6,000 a year. Guide price: £70,000 to £80,000.
£100,001-£999,999
London: Lot 1 is a one-bedroom garden flat in Catford, South East London, located near Catford and Catford Bridge Rail Stations. Guide price: £150,000.
Southend-on-Sea: Lot 7 is a three-bedroom mid terrace house on the north side of Central Avenue, approximately half a mile to the north-east of Southend-on-Sea town centre. Guide price: £180,000.
Middlesex: Lot 90 is Flat 20, The Hoover Building, which is one of six flats offered by Allsop in this Grade II Listed Building in Greenford, UB6. The first floor flat features two-bedrooms and is served by two Art Deco style lifts, plus stairways. The new build flats are estimated for completion and ready for occupation in March 2018. Guide price: £510,000.
£1 million-plus
Flintshire: Lot 75 is Westbury Castle – a large and attractive property by the coast in Flintshire, Wales, which is finished to an exceptional standard and includes 12 bedrooms, a west wing arranged to provide nine self-contained apartments and a chapel with a bell tower. Guide price: £1.5 million – £2 million.
London: Lot 82 is 8 Albert Studios in desirable Battersea. This is a rare opportunity to purchase an artist studio with ten garages that have been in the same family ownership since the early 1900s. Guide price: £1 million.
