The next Cheffins property auction will see 22 lots offered on Wednesday 21st September at the firm’s salerooms in Cambridge. This bumper catalogue will include a series of income-generating properties, as well as residential opportunities and land throughout the Eastern region.
The highest value lot on offer is a Grade II listed parade of commercial properties on Saffron Walden High Street. Situated at numbers 27, 27c and 29, these three retail units are currently fully let to established tenants and generate a rental income of over £41,000. Having been previously refurbished and maintained to a high standard, these buildings represent a solid investment with a guaranteed return and are estimated to sell for £425,000 – £450,000. This is followed by a rare chance to purchase a four-storey mixed-use property on Newmarket Road in the centre of Cambridge. Consisting of two self-contained residential flats and a ground floor retail premises, the property needs some updating and refurbishment, and has an estimate of £395,000. Meanwhile in Newmarket, a combined lot including a social club, office building and four-bedroom house is on offer for £195,000. Situated on Kingston Terrace in the town centre, the social club currently operates as the Foresters Club, which has recently signed a three-year lease on the property. It comes with a games room, bar, cloakroom and cellar with a barrel chute.
For those looking for primarily residential opportunities, on Market Street in Soham there is a large property, currently arranged as eight individual flats, which has a rental income of £43,500 per annum and is set to sell for circa £430,000. Similarly, in Littleport, near Ely, there is a substantial residential building which is currently arranged as a five-bedroom House of Multiple Occupancy and a separate one-bedroom flat, which currently produces £32,760 per annum, and is set to sell for £250,000. Also on offer is a single storey eight-bedroom property which was previously used as a care facility and is set on a two-acre site and has a guide price of £360,000.
Amongst the more unusual lots is a Methodist Church in Coveney, near Ely. The current building has an entrance porch, main hall, meeting room, kitchen area, wc and garden store, on a 0.1 acre plot. It has potential for conversion to residential, subject to planning permission, and has an estimate of £120,000 – £150,000.
There are 13 land lots on offer, with parcels encompassing grassland and arable opportunities. The largest parcel on available is a block of arable land extending to 34.77 acres at Holme Hale, near Thetford in Norfolk, which has an estimate of £320,000 – £350,000. Also at Holme Hale is an unusual opportunity to purchase 3.11 acres of arable land and woodland, and also a range of traditional farm buildings, which is set to sell for between £60,000 and £70,000.
Ian Kitson, Director, Cheffins comments: “Income-producing opportunities are set to be the most sought-after at the September auction, as flexible and solid returns become increasingly attractive during volatile periods for financial markets and other investment opportunities. We have seen increasing numbers of investors heading to the auction room, looking to widen their portfolios as global uncertainty continues to push people towards traditional investment vehicles. In addition, land opportunities are consistently sought after by a range of buyers as farmers look to increase their holdings and investors and private buyers also look to tap into this stable market.”
Cheffins’ property auction grossed over £10,000,000 in 2021, throughout the East Anglia and Mid Anglia regions.
The auction will take place on Wednesday 21st September, from 2pm, online at www.cheffins.co.uk
To view the catalogue, visit: https://www.cheffins.co.uk/property-auctions/catalogue-view,sept-2022_562.htm