A 1950s house in Fen Ditton, Cambridgeshire, will lead the Cheffins’ June Property Auction as it hits the market for the first time since it was built over 75 years ago. The auction will take place on 11th June at the firm’s salerooms in Cambridge.
Summerfield House in Fen Ditton sits on a plot of 0.73 acres and has been in the same family ownership since 1947, with the original part of the property built in 1952. It was first constructed as a bungalow due to post-war building size regulations, and a second storey was added in 1953. It now comprises of five bedrooms, an entrance hall, kitchen, sitting room and a bathroom. It has a pre-sale estimate of £500,000+.
Summerfield House, Fen Ditton
Ian Kitson, Director at Cheffins says: “Summerfield House is a complete time warp and has tons of features dating back to when the property was originally built. Having been in the same family ownership for 78 years now, it represents a brilliant opportunity for someone looking for a characterful renovation project. The plot is what will make this property particularly attractive to many buyers, as it is packed with fruit trees, a vegetable garden and a lawn with wildflower areas. There is also a single garage and plenty of off-street parking.”
Other renovation projects on offer as part of the auction include a detached house in the centre of Burwell, Cambridgeshire, in a plot of 0.51 acres which has a pre-sale estimate of £200,000 - £250,000. This Victorian property also comes with a series of timber sheds and a single garage. In addition, there is a detached bungalow in Ashwell, Hertfordshire, with an estimate of £350,000 - £400,000 and a 1970s house in Kings Hedges, Cambridge, which is in need of updating and is set to sell for £350,000.
For commercial investors, a property on the corner of Soham High Street which is currently operating as an Indian restaurant is on offer. Comprising a commercial kitchen and four rooms on the first floor, as well as a three-bedroom semi-detached house on Brook Dam Lane and an additional, separate one-bedroom property, it has a current rental income of over £17,000 per annum and has a guide price of £420,000. There is also a mid-terraced investment property in Great Yarmouth which includes a ground floor retail premises, trading as ‘Cooking Asia Supermarket’ and a two-bedroom flat on the first floor and which currently has a rental income of £20,400 per annum. It is available for £225,000 - £250,000. In Wisbech, a Grade II listed mixed-use building includes a large ground floor commercial premises, currently let to a restaurant and a four-bedroom flat over the first and second floor levels and has an income of £22,800 per annum. It is situated on Church Street and has an estimate of £200,000 - £225,000. Meanwhile in Huntingdon, a two-storey office building on Ermine Business Park which would be suitable for an owner-occupier is offered with a guide price of £195,000+.
9 Swaffham Road, Burwell
In the land section, a parcel of 9.37 acres is available in the popular Suffolk village of Hundon. Currently laid to grass, it has direct access to Church Street and has a guide price of £150,000 - £170,000.
Ian Kitson, Director at Cheffins continues:
“As economic uncertainty continues to affect the stock market, we are seeing an increase in the number of investors looking to park their money in bricks and mortar. Whether this be in renovation projects, mixed-use buildings with strong yields or land, property auctions continue to provide an excellent hunting ground for those looking for investments which will provide rental incomes or guaranteed growth in capital values. As interest rates have dropped, the property market has seen increased activity, and I would expect this to continue over the coming months. The residential opportunities in this upcoming sale are set to be particularly attractive, as they offer the chance to increase values relatively quickly and for either investors or owner-occupiers to see a strong return on investment.”
The auction will take place on Wednesday 11th June, from 2pm, online at www.cheffins.co.uk
To view the catalogue, please click here
For further information, contact Cheffins Property Auction team on 01223 213343, property.auctions@cheffins.co.uk