A £1.35m site with development potential in Essex and several £1m-plus London residential investments are among the highlights of the catalogue for Strettons’ 23 May national property auction.
The live-streamed sale will feature 51 properties from across the UK, ranging from a series of iconic red telephone boxes in Brighton to an 11-bedroom aparthotel/HMO in Hartlepool.
The highest-priced property in the sale is a 0.42 acre site in Rainham, Essex, comprising a pair of two-bedroom houses, two detached studio flats and land. The site is offered vacant with development potential and has a guide price of £1.35m-plus.
The sale also features a number of income-producing investments in London, at various price points. In Clapton, E5, a freehold residential investment comprising three self-contained flats let on assured shorthold tenancies, currently producing £61,800 per annum, is guided at £1.2m-plus (pictured).
In Leyton, E10, a long-leasehold semi-detached property comprising four individual conversion flats, all let on ASTs, has a guide price of £1m-plus. The property currently produces £53,700 per annum. In Haringey, N15, a freehold two-bedroom house, also let on an AST and producing £22,800 per annum, has a guide price of £440,000-plus.
Commercial opportunities include a freehold, part-vacant investment in Kensal Green, NW10. Comprising a ground-floor shop and HMO consisting of five flats, the property produces £58,500 per annum and has a guide price of £1.05m-plus.
In Tottenham, N15, a long-leasehold commercial investment consisting of a double shop, currently let to William Hill, and rear workshop has a guide price of £420,000-plus, and in Walthamstow, E17, a building comprising a ground-floor shop and self-contained flat above is guided at £675,000-plus.
Andrew Brown, director of auctions at Strettons, said: “We are continuing to see interest in properties where there is the potential to add value or to secure immediate income. The majority of the properties in our May sale meet those criteria.”
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