Development site and bargain-priced homes for auction

Development site and bargain-priced homes across the East Midlands feature in Bond Wolfe’s September auction

A string of East Midlands properties are set to attract property investors and househunters alike when they go under the hammer at Bond Wolfe’s next sale on Thursday 15 September.

development site clarence street

Developers will be focusing on the sale of a key development site close to Leicester city centre, at 47 Clarence Street (picured), which is listed with a guide price* of £695,000+.

The site had secured planning permission for the construction of 47 student apartments, but this has now lapsed.

At the other end of the scale, homes with prices starting at only £19,000 will attract a broad range of bidders at the livestreamed auction event.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “The broad range of properties coming up for sale at our auctions is part of our strength, attracting bidders from across the UK and from overseas.

“The Leicester development site will be the subject of intense interest – while the planning permission for student flats has lapsed this site has potential for a wide range of development schemes, subject to securing planning permission.

“At the same time the auction will also feature homes with low guide prices that are in need of modernisation or renovation, offering opportunities to both those looking for a first step on the housing ladder and others building up their by-to-rent portfolios.”

For instance, 12 Wellington Street, in Heanor, Derbyshire, is a two bedroomed mid-terrace house with a guide price of just £25,000+. It is an unfinished modernisation project, so there are no kitchen or bathroom fittings, although UPVC double glazing is fitted.

With gardens front and rear, it has two reception rooms and a dining kitchen downstairs and the bathroom and bedrooms upstairs.

For those looking for less of a challenge, 135 Forest Road, in Clipstone Village, Mansfield, Nottinghamshire, is a project much closer to completion.

A three bedroomed double-front mid-terraced house with a guide price of £20,000+ it has gas central heating and UPVC double glazing fitted. On the ground floor is a through reception room, hall and open plan kitchen/dining room. Upstairs are the three bedrooms, bathroom and WC. There are gardens front and back.

A different prospect is offered by 4 Portland Court, in Newark; a recently refurbished two bedroom ground floor apartment, set within an art deco purpose-built block of apartments, standing in communal grounds.

With a guide price of just £75,000+ the leasehold property offers a hall with store, reception room, kitchen, two bedrooms and a bathroom with WC. There is a rear communal courtyard.

The service charge is approximately £700 per annum, which includes grounds maintenance and building insurance.

Buy-to-let investors will be tempted by the £19,000+ guide price for a three bedroomed mid-terrace house at 33 York Road, Mansfield, currently let and generating gross income of £5,400 per annum.

The property has a reception room, dining kitchen, inner hall and the bathroom with WC on the ground floor, two bedrooms on the first floor and a third in the attic space. There are gardens to the rear and the property has UPVC doble glazing.

“All these properties offer remarkable value and we are predicting some competitive bidding on the day of the auction,” said Mr Bassi.

The East Midlands homes are among 156 lots listed for in Bond Wolfe’s next auction which is due to start at 9.30am on 15 September. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.

* Each property is subject to a reserve price which may be different from the guide price.  Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.