A series of residential opportunities will be on offer at the first Cheffins property auction of 2023 on the 8th March.
Leading the residential section is a former butcher’s shop in Burwell. As well as a three-bedroom house which needs full refurbishment, the property comes with a series of outbuildings, set around a central yard, which have planning permission to be converted into two, three-bedroom homes. The attractive buildings are set on a 0.27 acre site, and situated on Mill Lane, in the centre of Burwell, ten miles northeast of Cambridge. Formerly Jack Hurrell Butchers, the shop was established in 1925 and served the community for almost 200 years. It has an estimate of £450,000 - £500,000. This is followed by an end of terrace three-bedroom house on Natal Road, central Cambridge. Also needing full refurbishment, this house is situated close to the popular Mill Road and comes with a rear garden. Providing an exceptional renovation opportunity, this house has a presale estimate of £350,000.
Close to Saffron Walden, are two pretty Grade II listed cottages in Littlebury. These both have one-bedroom, rear gardens and are in need of refurbishment. With recent rental incomes of £675 per calendar month and £695 per calendar month respectively, these two cottages are offered with a guide price of £175,000+ and £180,000+. In Cottenham there is a three bedroom detached Victorian house, in need of modernisation, which has an estimate of £285,000, and there are further opportunities in Haddenham, Coldham, Willingham and Chatteris.
In the commercial section, a large industrial property on Minton Enterprise Park in Newmarket is offered freehold. Spreading to over 4,320 sqft on the ground floor and 2,070 sqft on the mezzanine floor, this warehouse is an end of terrace unit, and is available with vacant possession. Its guide price is £300,000. In Ely, a pair of self-contained offices on St Thomas’ Place are offered as a whole, with large office areas, lobbies, kitchens, cloakrooms and parking, with an estimate of £150,000 for the pair.
Amongst the land, one major lot is 30.84 acres of grassland in a strategic edge of village location in Willingham, Cambridgeshire. Split into three connecting parcels, the land benefits from a water supply and a small timber structure. The land it situated to the north of the village, with direct access from Sponge Drove. It has an estimate of £325,000 - £350,000. Otherwise, the majority of land offered is arable, including 17.27 acres of Grade 2 arable land at Sampford Road, Finchingfield, which has an estimate of £155,000 - £165,000.
Ian Kitson, Director at Cheffins comments:
“As other asset classes have fluctuated wildly in recent months, investors are continuing to turn to bricks and mortar and land for a guaranteed return. Residential properties which offer a renovation project are consistently sought-after, as are development opportunities. With this in mind, I would expect the property in Burwell to be of particular interest for both private buyers and developers, while the land in Willingham could well be attractive to a speculator, due to its strategic location.”
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 8th March December, from 2pm, online at www.cheffins.co.uk
To view the catalogue, visit: https://www.cheffins.co.uk/property-auctions.htm
For further information, contact Cheffins Property Auction team on 01223 213343, property.auctions@cheffins.co.uk