Renovation projects sell well with SDL Property Auctions
7th July 2022 – There were plenty of renovation opportunities available in SDL Property Auction’s June auction, with everything from classic terrace properties to former police stations going under the hammer.
Lot 1, 41 Derby Road in Belper (pictured) was one of the most anticipated lots of the day, with its requirement for full renovation, and the potential that provided, proving popular. With three bedrooms and ample room for improvement this property had a guide price of £88,000+ plus fees and eventually sold for £192,000, more than double its guide price.
Andrew Parker, Managing Director and Auctioneer said: “Properties like these are the kind of thing that people come to auction for and this month was no different. This property really has bags of potential, and it will be exciting to see what the lucky buyer does with it in the coming months. It could make a lovely family home or when works have completed could easily be sold or let on the open market for a competitive price.”
Elsewhere in Derbyshire another great result was achieved with the sale of 212 Stenson Road. This property was especially unique as it was originally constructed out of four train carriages. While internally it still requires a great deal of modernisation, this was a great chance for a buyer looking for a new renovation project to take one under their wing. Sold in partnership with Hannells, this property made £139,000 off a guide price of £95,000+ plus fees.
An arresting opportunity not to be missed could be found in north Nottinghamshire in Shirebrook, where the town’s former police station was on sale. The detached two storey building also benefits from off street parking space, making it a great opportunity for sympathetic redevelopment into residential accommodation, whether that be a single dwelling or apartments (subject to planning). With a number of its original features still in situ, this achieved a great result on the day, selling for £150,000 from its guide price of £135,000+ plus fees.
Andrew continued: “It's always wonderful to bring slightly more unique opportunities to auction and this property is no different. We will be interested to see what features, if any, the new buyer retains in their development of the property. I’d understand removing the perspex screens, but the fireplaces could certainly add charm to the place!”
In the West Midlands, 467 Charles Road in Small Heath, presented a fantastic opportunity for a budding developer to put their own stamp on a home, especially if looking for a buy to let investment. This three-bedroom terraced property, in need of modernisation, is estimated to be able to achieve £675 per calendar month in rental income or £8,100 per annum. The property was offered with a guide price of £120,000+ (plus fees) and sold for £141,000.
A more ready-to-go purchase was found in Burton Joyce in Nottinghamshire in a Timed Auction, where 148 Nottingham Road was sold. This is a four-bedroom detached bungalow situated on the outskirts of Burton Joyce village which sits on a generous sized plot and offers spacious accommodation. In good condition throughout, the property was offered at a guide price of £335,000+ plus fees, eventually selling for £401,000 after a flurry of bids were placed.