The first DDM Property Auction of the year will be held on February 16th and will offer a considerable number of properties of serious interest to investor landlords looking to add to their portfolios - as well as to anyone else looking to buy a home of course.
Also known as the Northern Lincolnshire Property Auction, we welcome partner agents and will be offering 40 properties to go under the hammer, including a Cleethorpes guesthouse – and a Grimsby bar. In 2011 the DDM Property Auction sold over 200 properties and featured on BBC Look North.
The geographic spread of the lots goes right across the northern part of the county, including Grimsby (9 properties), Cleethorpes (2), Scunthorpe (10), Barton (2) and villages including Alkborough, Barrow, Brigg, Broughton, Keadby and Misterton, as well as Market Rasen and Gainsborough
In terms of value, the property auction includes sixteen properties that have guideline starting bids of under £50,000, eleven with starting bids in the £50,000-£75,000 bracket and six in the £76,000-£100,000 range.
There are also seven other houses that have starting bids of between £105,000 and £180,000, although these are outside the usual range of properties that are bought to go into the rented housing pool in our part of the country.
The most eye-catching lot going into the sale is a Cleethorpes property . . . 22 Summerfields . . . which has a starting bid of just £1. The two-bedroomed first floor apartment, with living room, fitted kitchen and bathroom, is in an over-55s retirement complex. It has gas central heating, uPVC double-glazing and a garage.
The starting bid indicates that it is in the auction to be sold!
Other attention-grabbing lots include a two-bedroom mid-terrace house in Oxford Street, Grimsby, that goes into the auction with a starting bid of just £15,000, a three bedroomed terraced house in Alexandra Road Grimsby (starting bid £16,000) and a two bedroomed semi-detached bungalow in Bowmandale at Barton that has a starting bid of £25,000. (Lounge, kitchen, two double bedrooms, box room, family bathroom and gardens front and rear.)
Meanwhile a one-bedroomed ground floor flat in Richmond Road Grimsby has a starting bid of £30,000, as does a two-bedroomed semi-detached house in Station Road at Keadby.
There is always good demand in the renting market for terraced houses at affordable monthly rentals and this auction sees half a dozen properties on offer, with starting bids in the £25,000 - £75,000 range, that could quite easily go into that pool.
Perhaps the most impressive is at Grammar School Road in Brigg: A spacious traditional town house comprising a reception hall, two sitting rooms, dining room kitchen, four bedrooms and two bathrooms. It is new to the market and has a starting bid of £75,000.
The semi-detached section has nine properties with starting bids ranging from £55,000 through to £89,000, so again well within buy-to-let territory. They are to be found right across Northern Lincolnshire including Grimsby, Ulceby, Brigg, and Scunthorpe (4 houses).
There are also some really attractive places including The Cottage in North Street in the centre of Barrow on Humber, just yards from the Norman parish church. It is a period cottage with lounge, dining room, downstairs bathroom and two bedrooms. The property also has a range of timber and brick outbuildings. It goes the auction with a starting bid of £70,000.
The more unusual investment opportunities in the auction catalogue include a Cleethorpes guesthouse: Brentwood House on Princess Road is a semi-detached property with four floors, close to the town centre, the railway station and the seafront. New to the market, it goes into the auction with a starting bid of £160,000.
Meanwhile lot 38 is The IT Bar on Cleethorpe Road in Grimsby. The two-storey building has bars on the ground floor and the first floor. Again new to the market, the staring bid is just £9,950.
As I mentioned in our New Year market review last month, there is strong demand for rented property in the area at the moment and there is nothing to indicate that things are going to change anytime soon. We can let every flat and house that we can get our hands on and we would be absolutely delighted to see some of these places coming into the renting pool.
The DDM Property Auction is to take place at the Forest Pines Hotel on Thursday February 16th. The catalogue can be downloaded at www.ddmresidential.co.uk. Registration opens at 6.30pm and the auction gets underway at 7 o’clock. People not able to attend the auction in person, can instruct us to bid for them or can arrange to bid on the telephone. If you are intertested in selling your property at auction visit the website, call into your local office or call 0845 4 599 499.
