Strettons is looking to beat February’s 78% success rate at its second auction of the year later this month.
The highest-priced lot in the catalogue is a £1.3m freehold vacant site with planning permission for 10 flats and B1 offices in Caterham, Surrey. This is closely followed by a freehold vacant former office building with permitted development rights and consent for two houses in Plaistow, east London, which has a guide price of £1.25m.
The auction also includes ground rent investments and a freehold land investment in Cumbria with a sub-£100 reserve.
A series of land investments being sold by advertising agency JC Decaux have prices ranging from less than £100 to £150,000. Currently used as locations for billboards, many of the sites have development potential.
Philip Waterfield, director and auctioneer at Strettons, said: “The plots are the latest in a series of land investment sites we have sold on behalf of JC Decaux, the majority of which have performed well in previous auctions. Given their use as billboard locations, many of the sites sit in prominent positions so could suit a range of uses, from keeping them as advertising locations to developing them into houses, subject to the necessary consents.”
With the auction taking place amidst political turmoil, the company is expecting bidders to be both cautious and opportunistic.
“Our sale comes just days before the UK leaves the European Union, so it offers an opportunity for investors to complete sales ahead of any potential turbulence this may cause.
“It will be interesting to see market sentiment in the room, but regardless of Brexit, the sale features a range of investment opportunities for the savvy investor, especially those taking a long-term view on their portfolios,” Waterfield said.
The auction will take place at 11am on 25 March at the De Vere Grand Connaught Rooms, WC2.
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