The July auction by Harrogate estate agent and auctioneer FSS will feature some superb property investment opportunities. We spoke to auction expert Richard Smailes at FSS for his insight ahead of the July 19 event at Pavilions of Harrogate.
What are investors looking for?
Investors want clarity on the potential return on their investment.
Often we are auctioning properties that already generate a rental income and we can share our own experience of the rental market as Harrogate’s leading letting agent.
Tell us about some of the properties going under the hammer on Thursday 19 July.
Investors who are looking for a property to do up and sell on, or even to live in themselves, will be interested in a charming one bedroom rustic cottage in Great Ouseburn which is in need of modernisation but includes useful outbuildings including a garage and stores.
It also has a large garden stretching behind adjoining cottages. The guide price for this lot is £100,000.
We are also selling Roseville Cottage, in the picturesque Nidderdale village of Dacre Banks, which has a guide price of £140,000. The house has two bedrooms as well as a loft room and has previously been rented out at £695pcm.
It enjoys far-reaching countryside views and would be a good holiday let too.
Are there any three bedroom family homes up for auction?
Three bedroom semi-detached homes are undoubtedly amongst the most sought after auction properties and we have a fantastic one for sale at the July 19 event.
Located in a popular residential area on Wedderburn Road, Harrogate, it has a good-sized garden offering scope to extend, subject to the necessary planning consents.
It is in need of general modernisation and is being offered with a guide price of £150,000.
Do any of the properties already have planning permission for improvement?
Yes, a prominent three bedroom detached family home on the very popular Bogs Lane in Harrogate with planning approval for an extension linking an annexe to the main house to create a large L-shaped breakfast kitchen with bi-folding doors out onto the garden, substantial sitting/dining room, a master bedroom with en-suite, three further bedrooms and bathroom.
The guide price for this property is £330,000.
Are all the properties in North Yorkshire?
Our reputation as auctioneers extends right across Yorkshire and we frequently sell properties outside the Harrogate district. This auction is no different and we are pleased to be offering an exciting mixed investment opportunity in Shipley, which has a guide price of £180,000.
This well-maintained property comprises a ground floor commercial unit which is currently let at an annual rental of £7,000 per annum plus VAT.
The current tenant is looking to extend the lease for a further ten years.
Upstairs are two self-contained apartments, each of which is let at £425 pcm. The total rent net of VAT is £17,200.
What should interested parties do next?
The first step is to get in touch with us at FSS as soon as possible on 01423 501211 and express an interest.
We can then arrange a viewing and more detailed discussion ahead of auction day. The auction itself will be held at Pavilions of Harrogate on July 19.
All are welcome to attend, even simply to spectate, and we advise arriving in good time before bidding starts at 3pm.