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Highfields property ends Leicester auction on a high note

A seven bedroomed Victorian villa was one of the star lots at SDL Auctions Graham Penny’s final Leicester property auction of 2019 at the King Power Stadium.

38 Highfield Street in Highfields is an imposing three-storey refurbishment project full of potential and auctioneer Andrew Parker said he was not surprised when it sold for £311,000 from a guide price of £250,000+.

“The size of this property, the number of bedrooms and its location close to hospitals, university campuses and the city centre make it ideal for conversion to flats or a House in Multiple Occupation, subject to planning permission. It has the potential to provide an annual income of £45,000 so the buyer has made a shrewd move in purchasing this property.”

Elsewhere in Leicester, another potential HMO attracted eager bidding. The detached 442 Hinckley Road in Leicester has five bedrooms, three bathrooms and parking for up to three cars and could be let to five sharers subject to permissions, with a potential rental income of £24,700 per year. It sold for £231,000 from a guide price of £200,000+.

Providing the opportunity to add value, refurbishment properties are always popular at auction and one such property was the first to go under the hammer at the December auction.

A traditional semi-detached property in a quiet cul-de-sac, 67 Astill Drive in Leicester requires renovation but, with some work, could become an excellent family home, earning £700 per calendar month on the rental market. It has a hallway, lounge and breakfast kitchen, with three bedrooms and gardens on three sides and sold for £110,500 from a guide price of £100,000+.

North-west of the city towards Ashby de la Zouch, a spacious village terrace sold for £91,500 from a guide price of £75,000+. 237 Station Road in Bagworth, Coalville, has gas central heating, a combination boiler and a log burner, with driveway parking and garden.

There were several plots of land available to purchase, too, including land adjacent to 337 Saffron Lane in Leicester, which has planning permission in place for a block of six apartments.

The plot, which overlooks Saffron Lane Park, sold for £220,000 from a guide price of £200,000+ and provides an opportunity to build a three-storey block with two one bedroomed flats and four two bedroomed flats, providing a potential rental income of £40,000 per year.

Andrew said: “It was great to be back at the King Power Stadium for our final Leicester auction of the year, where we raised £2.2m for sellers. We’ve had a successful year of auctions in the city, getting some excellent prices for our sellers and finding some great investment properties and new homes for our buyers. We’re now looking forward to the new year and are already on the lookout for properties to sell in our February auction.”

The next Leicester auction will take place at the King Power Stadium on Tuesday 11th February.