The catalogue for Strettons’ February auction is now available to view online, the property firm has revealed.
The national property auction is the firm’s first of 2018 and aims to build on the success of 2017, when it raised £62 million with a success rate of 78%.
Taking place on February 8 2018 in Holborn, the auction consists of 97 lots, with guide prices ranging from £10,000-£15,000 up to £1.5 million. This includes a freehold vacant house for repair in Notting Hill and a freehold vacant residential development site in the East Sussex town of Hastings.
The February sale includes a range of residential properties from across London, with a substantial period house for sale in West London with a guide price of £1.45-£1.5 million, while a freehold part vacant house in East London is going under the hammer with a guide price of £600,000.
Elsewhere, a long leasehold vacant flat in Tottenham has a guide price of £210,000-£215,000, while in Hertfordshire a new build freehold vacant house in Brookmans Park will start receiving bids between £650,000 to £660,000. In Ilford, meanwhile, a double fronted freehold property arranged as two flats (one AST and one ‘Regulated Tenancy’) has a guide price of £495,000.
There are also numerous ground rent investments on offer that are expected to prove popular with investors looking for a low entry level into the investment market.
Guide prices for the ground rents range from £600 for four maisonettes in Stratford E15 to £85,000-£90,000 for 10 flats in Leyton E10, with Strettons auction director Philip Waterfield saying: “For our first sale of the year I am delighted to see a diverse range of properties and a larger than usual number of freehold ground rents, including two portfolios in Walthamstow and Woodford Green”. He expects these to generate a ‘spectrum of enquiries’ thanks to ground rent investments showing excellent returns in recent years
Additionally, there are a number of development opportunities featured in the catalogue, including a freehold vacant derelict office building in Essex (with planning permission) and a freehold vacant bungalow (also with planning permission already granted) in Uxbridge. A freehold residential development site in Hastings with a guide price of £10,000-£15,000 and a freehold vacant site in Romford with a guide price of £185,000-£210,000 are also up for auction.
“In 2017, the UK property market overall continued to perform well and outperform many other investment options,” Waterfield added. “Properties in London and the south East remain very attractive investment options and our results over 2017 show that well priced properties in popular locations will interest investors.”
Strettons’ February auction will take place at 11:00 on February 8 2018 in Holborn at the De Vere Grand Connaught Rooms, Great Queen Street, London, WC2B 5DA. For further information on the properties available, contact the Strettons’ auction team on 0207 637 4000. The online catalogue can be found here.