Auctioneer Spies “Airbnb” Opportunity for Lots
An entrepreneurial auctioneer has spotted the upside for any wanna-be Airbnb-ers in his latest property auction catalogue – and with over 150 million users worldwide – there’s certainly a market for short-term lets!
Toby Limbrick, Director at Network Auctions, said, ‘The opportunity to make a good income from short-term lets is something more and more buyers are looking for. Airbnb is an attractive alternative to traditional buy-to-let investing due to the more favourable tax regime (you can offset mortgage interest expenses), the widening of geographical areas for investment and the less onerous tenant regulations. Increasingly, we are finding investors are looking for properties which are suited to the short-term holiday rental market so they can diversify their portfolio.’
Network Auctions 10th October sale currently has two potential lots Toby Limbrick feels may be of interest to short-term let investors.
Flats 1-4, 4 Higher Tower Toad, Newquay, Cornwall, TR7 1QL offers a potential investor an instant income as the property, comprising of a double-fronted freehold of 4 x 1 bedroom flats with parking at the rear, guided at £330-340,000, is currently let on ASTs producing £21,060 per annum. On Airbnb, properties situated in the location (close to Newquay town centre and Fistral beach), have a daily rate starting at £50 up to £100 per night.
59 Gladstone Road, Watford, Hertfordshire, WD17 2RA is a spacious 4-bedroom end of terrace property guided at £390,000+ being sold on behalf of the executors. Located in central Watford, close to the town centre and High Street, the property is just 5 minutes to Junction station and the free tourist bus to Warner Bros. Harry Potter studio tour. This large property could be the ideal family base for ‘Potter’ fans with similar properties in the area commanding a starting rent of £200 per night.
Limbrick said: ‘Auction is the ideal place to pick up an Airbnb property – we sell unusual lots, but also strategically positioned properties that perhaps many people may overlook in a catalogue’.
Network Auctions next ballroom sale will be held at 2pm, 10th October at The Westbury Mayfair Hotel, 37 Conduit street, Mayfair, London.