Investment opportunities under the hammer at Cambridge auction
Commercial, investment and residential properties plus a number of agricultural and paddock land parcels will be on offer at the next Cheffins auction on March 15.
Key opportunities include the Keith Leonard Estate which is made up of seven lots to include two houses, a large agricultural barn and over 90 acres of both garden and arable land.
Investment properties are also on offer, including a freehold, mixed-use building with over £50,000 pa in rental income from high street stores Subway and SpecSavers with planning consent to convert the upper floors to residential flats in Biggleswade; it has a guide price of £900,000.
There is also a mixed-use property on Ramsey High Street which is currently generating a yearly rent of £19,500 and is carrying a guide price of £140,000.
Other commercial options include an office building of over 1,730 sq ft in Burwell, Cambridgeshire and a commercial restaurant premises in Chatteris with over 6,000 sq ft of space with guide prices of £240,000 and £270,000, respectively.
Residential refurbishment opportunities, which were particularly popular in 2016, are also on offer.
These include Palmers Farm in Cockfield which is a pretty cottage in an acre of grounds with its own moat – guide price £220,000 – and a ‘chocolate box’ thatched cottage in Lawshall, Suffolk, which requires full refurbishment and has a guide price of £190,000.
Also available are two residential prospects near St Neots. There is a large property in Eynesbury which is partly refurbished and partly derelict which will offer an interesting proposition for a developer or owner-occupier and has a guide of £425,000.
Similarly, there is a detached property in Buckden dating back to the 1800s which needs cosmetic updating and will be available for £295,000 and a three-bedroom terraced property in central Cambridge which has a guide of £390,000.
In total there is 128 acres of agricultural and paddock land on offer. Agricultural parcels are available in Reach, Littleport, Isleham and Outwell in Cambridgeshire while pasture land is on offer in Worlington and Reach.
There is also a period, brick built barn near Welney which has planning permission for conversion into a four-bedroom home which has a guide price of £120,000 and has paddock land and stables available by separate negotiation.
Ian Kitson, drector at Cheffins, said: “Residential and mixed-use property sold particularly well in 2016 so we will be interested to see the amount generated for these options in March’s auction.
“The Keith Leonard Estate has attracted a huge amount of interest already and we expect that to be popular with a range of buyers including farmers, developers and owner-occupiers. The commercial opportunities should be set to sell well, especially the Biggleswade and Chatteris options which can guarantee strong returns for investors.”
Cheffins sold property worth a total of £11.158 million in 2016.
• PHOTOGRAPH SHOWS: Freehold mixed use building in Biggleswade