The headline lot at Cheffins’ next sale is a mixed-use opportunity in central Cambridge that generates a yearly income of more than £65,000.
The property (pictured) has dual frontage onto Mill Road and Devonshire Road, with two retail units on the ground floor let at £18,000 and £10,615 pa apiece. The first floor comprises a one-bedroom flat and five bedsits that produce £37,200 pa.
Its guide price is £650,000 to £700,000.
Also on offer at the 20 June sale is a freehold end-of-terrace property on Mill Road, arranged as an eight-bedroom HMO with an additional self-contained studio flat. The site, with parking, has permission to be returned to two three-bedroom houses, and is guided at £650,000.
Ian Kitson, director, Cheffins said: “The two investment opportunities on Mill Road in Cambridge are sure to be income-generators and are set to generate the most interest on the day.
“The continued regeneration of the Mill Road area has led to residential property values in this location growing by 20% in the past three years, making these an obvious choice for those looking for a strong return.”
The 16-strong catalogue also includes a retail investment in central Huntingdon let to rent-to-own retailer BrightHouse at £70,000 pa. It has a guide price of £800,000.
Kitson said it offered a “ready-made opportunity for a fund or investor looking for substantial returns with further angles”.
The sale will take place at Cheffins, Clifton House, Cambridge.
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