Posted on Wednesday, November 16, 2016
There promises to be something for everyone in our December property auction at The Pavilions in Harrogate, which features everything from character cottages to family residences, with exciting opportunities for investors, owner occupiers and developers.
With guide prices ranging from £65K to £450K the properties also have the potential to deliver an impressive return on investment, according to auctioneer Richard Smailes.
“We will be offering an apartment on Somerset Row in Ripon which is currently producing an 8.8% return on investment based on the guide price of £65,000,” said Richard.
He explained that this latest sale by FSS features a good selection of properties that will appeal to all kinds of buyers, being ideally suited to redevelopment, buy to let or refurbishment for personal use by the purchaser.
“It’s unusual to see such a superb selection of versatile properties in one sale,” said Richard.
“The six-bedroomed detached property on Magdalens Road in Ripon, which has a guide price of £450,000, stands in 1.5 acres of grounds, is within walking distance of the city centre and is ripe for refurbishment to restore it to glory as a substantial family home but could equally present an opportunity for a developer, subject to planning permission,” he explained.
“Similarly, we have a three-bedroomed detached bungalow on Cautley Drive in Killinghall which also has extensive grounds and would suit either an owner-occupier or an investor looking for land for redevelopment, again subject to planning.”
Other features of the sale on December 8 include a charming two-bedroomed period cottage on Main Street in Scotton which is now in need of modernisation and has a guide price of £120,000, and a two-bedroomed apartment on Valley Drive in the centre of Harrogate which has been successfully let prior to being put forward for auction.
Richard said all the December properties represented excellent value in prime locations.
“Park Place in Knaresborough, which is fully let on a commercial and residential basis, is another perfect example of an investment property that will give returns of at least 7% based on the guide price, which is far more than could be earned in a bank,” he said.
“If there was ever an auction for everyone – particularly for those who haven’t tried their hand at buying property in this way before – this is definitely it.”
FSS Property Auction, Thurs Dec 8 at 3pm, The Pavilions, Great Yorkshire Showground, Harrogate. Tel 01423 501211 or click here for an Auction Catalogue.