Damage caused by the floods that hit Cumbria earlier this year failed to deter investors at Auction House Cumbria’s latest sale.
The event raised £1.7m over two days, with a 62% success rate.
Flood-damaged lots were among the top performers at the sale, with a two-bedroom terrace in Carlisle selling for £100,000 off a £65,000 guide. Another flood-damaged Carlisle house that had been stripped out and had driers in, sold for £132,000 off a guide of £100,000 to £125,000.
Properties on offer ranged from a derelict garage in Workington, which sold for £2,150, to a £160,000 detached bungalow in Ulverston with three bedrooms and a gated driveway, guided at £140,000.
A terrace with four rooms let for £16,000 pa was sold for £122,000 off a guide of £95,000 – a 13% gross yield.
Two buildings in the centre of Kendal were sold together for the guide price of £150,000. Both were sold freehold, with one consisting of four flats with an income of £23,000 pa.
The sale was held on 7 April at Carlisle Racecourse.
