Income-generating properties headline at Cambridge auction
Cheffins’ first property auction of 2019 will see 20 lots offered on Wednesday March 13 at the firm’s salerooms in Cambridge.
The auction will include a series of income-generating properties as well as a selection of unconverted barns, residential opportunities and woodland. The headline lot of the day is a freehold mixed-use investment premises in St Ives, Cambridgeshire, which has a guide price of £475,000.
Split over three storeys, the building includes a commercial unit on the ground floor – currently trading as health food shop, Grape Tree, and two self-contained flats above. It has an estimated rental value of £33,926 per annum and currently has a rental income of £24,326.
Other options for those looking for an income-generating investment include a two-storey commercial property in Chatteris which has a guide price of £200,000; a two-storey Grade II listed commercial property in central Ely, backing onto cathedral grounds, with a guide price of £320,000 and a development site on Argyle Street, central Cambridge which includes two storage spaces and a workshop close to Mill Road and which has a guide price of £445,000.
A further building offering flexible incomes is a two-storey mixed-use building on Queen Street, Haverhill, which includes a ground floor retail unit with a self-contained flat above.
The retail premises is currently let by a hairdresser and the building has a total income of £12,350 per annum. Making it even more attractive is the approved planning permission for a further two, one-bedroom flats in the parking area to the rear of the property. It has a guide price of £170,000.
For those looking for a development opportunity there is a range of unconverted barns available across the region. A 17th century Grade II listed barn set in four acres in Great Yeldham, near Toppesfield, Essex also comes with another, smaller barn and four acres of grounds, it has a guide price of £175,000.
The main barn measures over 1750 sq ft and has had planning permission for conversion to commercial use but could also create a large residential property, subject to planning consents.
Another, similar opportunity, is a range of barns with land extending to over 1.41 acres. This range of block and timber barns are in Hoxne, Suffolk, and have previously been used for agricultural storage.
The barns extend to over 5,700 sq ft in total and have a guide price of £200,000-£250,000. Similarly, a detached agricultural barn is offered in Fenstanton, near Cambridge, and has planning permission for conversion into two large residential dwellings and has a guide price of £295,000.
On the same site is another, additional barn which is just over 904 sq ft. It is offered separately, again with planning permission for conversion to a residential property, and has a guide price of £80,000-£85,000.