The catalogue has now gone live for the second Commercial Property Network (CPN) property auction, hosted online by Cheffins on 25th June.
Following the success of the first CPN auction which concluded on 19th March, the second sale will follow the same format, offering a range of properties from across the UK to be sold online. The varied catalogue contains investment opportunities from across the country, including in Brighton, Scarborough, Durham, Ipswich and Kendal.
Leading the auction is a large freehold mixed-use investment building which includes both commercial and residential properties in the centre of Ipswich, Suffolk, which has a guide price of £840,000+. Generating a rental income of £71,665 per annum, it includes fully let ground and lower ground floor commercial premises and a series of ten flats on the first, second and third floors. This is followed by a large historic building in Scarborough, North Yorkshire, which includes a ground floor retail unit and office and storage on the upper floors and has a guide price of £225,000.
In terms of retail, there is a commercial premises in Portslade, near Brighton, which has views of the harbour and sea, and is available on a 999-year lease. With a brick-built storeroom, it is set to sell for £155,000. Whereas in Kendal, Cumbria, a ground floor shop with office space is available in a prominent location, close to Bridge Mills and the Riverside Hotel, and which has been recently refurbished, has a guide price of £55,000. In Langley Park, near Durham, a retail investment property currently trading as a hairdresser is available with an estimate of £65,000.
Ian Kitson, Director at Cheffins comments: “This varied catalogue offers investment opportunities nationwide and is a brilliant illustration of how the CPN Auction concept works in practice. By combining the practicalities of the timed online process with the local knowledge of member firms of the CPN, we are providing property investors across the country with the ability to sell and purchase buildings of all shapes and sizes in a quick and hassle-free way. The first auction which we hosted for the CPN was a fantastic success and saw strong prices paid for a variety of different auction lots and served as a springboard to develop the catalogue for this next sale. By combining Cheffins’ 200-years’ worth of experience in selling properties by auction, coupled with the nationwide reach of the CPN and modern technology, we are working together to create a solution for property investors from coast-to-coast.”
Bidding will open on 23rd June and will close on 25th June and is available via the Cheffins and Commercial Property Network websites.
To view the catalogue, please click here
For further information, or to register interest for future auctions – whether as a seller or a buyer – contact the Cheffins Property Auction team on 01223 869727, cpnauctions@cheffins.co.uk