A historic Newmarket jewellery shop will lead the second Cheffins property auction of 2023 on 14th June.
The building, situated at 43-47 High Street, was formerly the premises of A S Wigg and Son, a famous jeweller, which had been trading from Newmarket for over 140 years. Opened in 1880, A S Wigg and Son closed on February 28th 2023 following the retirement of Michael Wigg, who had worked there for over six decades. The business was founded by Michael Wigg’s grandfather, Arthur Samuel Wigg, and was one of the largest jewellery businesses in the region. A S Wigg and Son also supplied the clock for Newmarket’s Jubilee clock tower, which was opened in 1890, and a number of the clocks for the town’s racing yards. The building dates from the 17th century, and comprises of a ground floor retail unit which is available with vacant possession, and storage on the first floor as well as residential accommodation above which stretches over numbers 43, 45 and 47. In addition, there is a basement, a large garden, garage and store, as well as off-road parking for two cars. Number 47 has its own self-contained retail unit, which is currently let to Argent Salon Limited. The property has a presale estimate of £350,000.
Also available at the auction is a thatched cottage in the popular village of Heydon, Hertfordshire. Requiring full refurbishment, the property comes with three bedrooms and stretches to over 1,588 sqft. Planning permission is currently being sought for a reconfiguration of the property and an extension. In addition, there is a large garden. It has a presale estimate of £395,000. Another residential opportunity is a semi-detached chalet-style property in Hitchin. The house is in need of full refurbishment but comes with a generous garden and could present a profitable opportunity for both investors and end-users. It is expected to sell for £275,000.
Among the more unusual opportunities are two moorings on the River Little Ouse. Situated at North Bank, Brandon Creek, the two riverside moorings are adjacent to one another close to the River Little Ouse’s juncture with the River Great Ouse, which offers access to the wider network of waterways for cruising. The moorings include 60 feet of frontage apiece and are close to the popular Ship Inn. The purchaser will also be granted a right-of-way over the embankment to their mooring and the right to park one vehicle in the nearby secure car park. Both moorings have an estimate of £35,000.
There are ten land lots offered in total in the catalogue, with the largest being 18.7 acres of arable land at Over, Cambridgeshire, which is set to sell for £130,000. This is followed by seven acres of agricultural land at Great Gransden, Bedfordshire, available for £100,000 - £120,000 and 6.38 acres of grassland between Cottenham and Wilburton, which is offered for circa £100,000.
Ian Kitson, Director at Cheffins comments:
“The mixed-use property in Newmarket offers an investor the opportunity to purchase an important part of the town’s history, as well as one of the most prominent buildings on the High Street. With a regular rental income and huge amounts of potential, this is set to be one of the most sought-after lots in the sale. Similarly, the thatched cottage in Heydon ought to draw significant amounts of interest as competition for pretty period properties in the local area continues to increase. With planning permission for a complete overhaul already in progress, this is a great opportunity for either an investor or a private buyer, looking for a fantastic project in one of the area’s most picturesque villages. Land is consistently sought-after, and with skyrocketing values throughout East Anglia and solid, guaranteed returns, we are seeing growing numbers of farmers, investors and lifestyle buyers heading to the auction room in search of arable and grassland opportunities.”
Cheffins’ property auction grossed around £10,000,000 in 2022, throughout the East Anglia and Mid Anglia regions.
The auction will take place on Wednesday 14th June, from 2pm, online at www.cheffins.co.uk