Property Investment

5 Auction Properties that Need Renovating

As a property developer, you are always on the lookout for your next renovation project on the property portals and at property auctions. Although more popular with the general public these days, the auctions are still a great place to head if you are looking for a refurbishment project. For example, look at the five great properties we found coming up at auctions across the country soon.

5 Bedroom Home (Potential to Revert to 2 Semi-Detached Properties) – Guide Price £225,000

5 Bedroom Semi-Detached Conversion, agent Frank Innes, Nottingham via Rightmove

Being sold by modern auction and marketed by Frank Innes, Nottingham, this five-bedroom property could be the ideal investment opportunity for builders or developers looking for a project so we think is sure to attract extensive interest from developers and investors alike at the upcoming auction.

The house, which is situated on a generous plot, was formally two semi-detached houses that the current owner has started to convert into one dwelling. However, it could be converted back to two houses subject to planning/building regulations.

Located on a residential street in Mapperley, the property with no upward chain is close to many local amenities including good schools, shops and regular bus routes. Nearby, there is an abundance of open spaces ideal for families such as Woodthorpe Park and Gedling Country Park.

Check out the video tour on the listing.

2 Bed, 2 Bath Super Location Close to Blackpool Sea Front – Starting bid £70K + Reservation Fee

2 Bedroom Terrace close to Blackpool Seafront marketed by Martin & Co, Fylde Coast, via Rightmove

For sale by the modern method of auction with a starting bid price of £70,000 plus reservation fee, agents Martin & Co, Fylde Coast are offering this two bedroom terraced house that is in need of complete renovation, to the market.

The property is located close to a range of local amenities, schools and has good transport links nearby (e.g. Blackpool station is 0.7 miles away) and is offered with no forward chain.

We also note that there is a minimum reserve fee set. Looking at the property history, it was last sold for £90,000 in 2007 although similar houses on the street have sold for less more recently.

Boasting good sized accommodation, a garden frontage and a rear yard, if bought for the right price this property could be a great opportunity for anyone looking for a development/rental opportunity. View the virtual tour here.

6 Bedroom Character Home Handsworth Wood Road, Birmingham – Auction or ‘Buy it Now’ Guide Price of £650,00

Impressive 6 Bedroom Home, sold by GOTO Online Auctions, marketed by Purplebricks, Birmingham

Being sold by GOTO Online Auctions house and being marketed by Purplebricks, this impressive, six-bedroom, four reception family home on Handsworth Wood Road in Birmingham is in need of some TLC.

The large family home, set on a very generous plot, offers spacious living accommodation spanning four floors that includes a conservatory, kitchen, utility room and large cellar.

Outside there is a driveway to the front while to the rear there is a large garden with a walled kitchen garden, brick BBQ and a generous lawned area complete with pond and mature shrubbery.

Buy it now option available.

1 Bedroom Flat Overlooking Park Guide, Brighton – Guide Price £225,000

Top floor flat in Brighton, marketed by Your Move, auction house, iamsold

This charming top floor flat situated on Dyke Road in Brighton comprises a double bedroom, bathroom and open plan living/kitchen/dining area and offers lovely views over the popular local park, which features a playground and cafe.

Being marketed by Your Move, Brighton and for sale by the modern method of auction, by the auction house, iamsold, this property with a guide price of £225,000 is in need of modernisation and also has a short lease of only 65 years, so may not be ideal for those needing a mortgage but more suitable for a cash buyer with the funds to pay for the lease to be extended.

3 Bedroom Bungalow Stunning Estuary Views – Guide Price £850,000

3 Bedroom Waterside Bungalow Marketed by Marchand Petit, Kingsbridge via Rightmove

Boasting an enviable position on the Kingsbridge Estuary with glorious views to the Bag and towards Salcombe, this delightful three-bedroom bungalow, in need of complete refurbishment, has bags of potential for those looking for a refurbishment/development opportunity.

The accommodation comprises a porch, hall, sitting room, dining room, kitchen, family bathroom, three bedrooms, conservatory, attached garage, large garden and forecourt parking.

This well positioned bungalow with spectacular waterside views occupies a large level plot of just over one-quarter of an acre with steps directly down to the foreshore and the estuary.

Not only does the property boast fabulous views, but it is also situated within walking distance of the town, so it’s a win-win on the location front for this development project.

Furthermore, the agents Marchand Petit, Kingsbridge note, the property previously had a running mooring off the estuary wall, which could be reinstated (subject to Harbour Master’s consent).

View the video tour here.

3 Bedroom Cottage in Tarbert, Scotland

3 Bedroom Cottage, Tarbert, Scotland Town & Country Property Auctions, via Rightmove

Heading further north, to the picturesque town of Tarbert in Argyll, we have found this delightful three-bedroom cottage with a guide price of £129,995 that may make a great holiday let.

The property, which is up for sale by public auction, is set within a large plot, with the original building offering a spacious lounge and reception room while the rear extension houses the bedroom, bathroom and kitchen. There is also a large, attached garage, which the agent Town & Country Property Auctions, Glasgow, suggests could enhance the cottage footprint even further.

The agents also write that the current caravan (pictured) could be replaced with an updated one or removed altogether to build an additional house, as the property can be divided into two portions of land with the correct planning permissions.

There is a large decking area at the rear of the house and the garden benefits from mature plants including rhododendron trees and a line of 200-year-old sycamore trees complemented by a 200-year-old dry stone wall.

We think the property would make an ideal holiday let due to its location, just a 3-minute walk to Tarbert Castle and with views of the quartz hills from the front of the development. It is also just a short walk to the harbour that offers a variety of different amenities, including; supermarkets, restaurants, newsagents, art shops, hotels, B&B’s and bars.

View the virtual tour.


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Alex Wright, Editor