Auction roundup – investing from home and unique opportunities

25 November 2020 | Investment

Property Investor Today takes another gander at the latest news and developments in the auction realm, starting with SDL Auctions, Network Auctions and BidX1.

Over 170 lots available at SDL Auctions’ November sale

SDL Auctions has revealed more information for investors ahead of its next live-streamed auction on November 26 (tomorrow), with a catalogue of over 170 residential and commercial lots.

The auction will once again offer a diverse range of properties from studio apartments to a million-pound pad and even a shopping centre.

“There may be many things it is not currently safe to do – but it will always be safe to buy property in our live-streamed auctions,” says managing director and auctioneer Andrew Parker.

“Going out may not be an option but there’s still plenty which can be achieved by staying home. You can bid on any of our properties from your living room, your office or even your car, using one of our three remote bidding methods.”

As with the previous auctions, potential buyers can bid on the internet, by proxy or by phone.

Among the properties attracting the attention of bidders is a detached house in London which offers three homes for the price of one. Currently set as a two-bedroom house and five-bedroom house with a self-contained flat, 242-244 Norwood Road is in the heart of Tulse Hill and has a large rear garden with a summer house. It has a guide price of £1,275,000-plus.

In the East Midlands, a detached bungalow in Nottingham, 100 Torvill Drive in Wollaton, requires modernisation and refurbishment and has a guide price of £150,000-plus. The property has a living room/diner, kitchen, conservatory, wet room and two double bedrooms. It has parking for several vehicles, a garage and rear garden. 

For those looking for a development opportunity, there are parcels of land, too, including one in Stoke-on-Trent with a guide price of just £1-plus. The freehold land at Lysander Road extends to around 0.11 acres and is considered suitable for building, subject to the necessary planning permissions.

Parker adds: “These are just a small sample of the lots being sold in this month’s national property auction, which features exciting opportunities along the length and breadth of the country. With guide prices as low as £1-plus, there are lots suitable for all budgets – and all can be purchased without having to leave the house.”

Network Auctions ends year on high with bumper Christmas catalogue

Network Auctions is celebrating its final property auction of the year with its biggest online catalogue to date numbering 62 lots.

With properties and land opportunities spread across the UK, buyers will be spoilt for choice.

Some of the highlights include a two-bedroom maisonette in Sparkbrook, Birmingham, in need of refurbishment and guided at £40,000-plus.

Elsewhere, a freehold parcel of land equivalent to 1.24 acres with vehicle access and development potential in Cosgrove, Milton Keynes, is guided at £20-25,000.

Uplands Court on London Road offers bidders a three-four-bedroom detached house in a private South Luton location with development potential guided at £300,000-plus.

Toby Limbrick, director of Network Auctions, comments: “2020 has been a challenging year, but it has presented many opportunities for us in the auction sector. We’ve always been great believers in the effectiveness of auction as a sales method, and this year has cemented that success and attracted many new faces to the online room.”

“2021 looks set to build even further on this and we welcome the attention the sector is receiving from PropTech companies. There’s some great ideas coming through the pipeline and we look forward to more people recognising the power of buying property online at auction.”

Network Auctions’ catalogue is now accessible with the online sale taking place on December 10.

Unique residential opportunity at BidX1 sale

Digital property investment platform BidX1 will offer a selection of 11 flats in Hackney and Tower Hamlets via online auction on November 26 (tomorrow).

The properties – all of which are being offered with vacant possession – range in price from a guide of £185,000 for a one-bedroom flat in Bethnal Green to £410,000 for a four-bedroom flat in Hackney.

The online specialists have arranged the bespoke sale for a leading housing association and the contracts provide for an eight-week completion period following exchange – double that of traditional auction timelines.

Oliver Childs, head of BidX1’s UK operations, believes the flats will attract ‘residential investors seeking buy-to-let opportunities’.

He says: “These properties offer an ideal opportunity for the small-to-medium investor, and the extended eight-week closing period provides the buyer with greater flexibility than is usually available through an auction sale – but with all the accompanying benefits.”

“All of the properties are long leasehold and are highly rentable, located in an increasingly trendy area of East London, with excellent transport links and a wealth of amenities.”

Childs points out that the firm’s digital platform allows his team to tailor the sale process to a client’s needs.

BidX1 will open bidding on all 11 properties at 9am tomorrow and registered bidders can place bids manually or set a maximum bid in advance. The full collection of flats can be viewed here.

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