Lots on offer at Savills May regional auction

Following a successful March sale, Savills has released its catalogue for the next regional auction, which will take place on the 19th May 2016 at the Centenary Suite, Nottingham Racecourse at 2.30pm.

Up to 48 lots offer a wide variety of opportunities across the residential and commercial property market to include:

Lot 1, 28 Regent Street in Nottingham. A rare opportunity to acquire a freehold period office building in the heart of the city’s professional quarter. The property is being offered at a guide price of £350,000 – £400,000.

Lot 8, 10a Plumtree Road in Cotgrave, Nottinghamshire. A unique opportunity to acquire a substantial period cottage in a sought after village location, which is being offered at a guide price of £310,000 – £335,000.

Lot 15, 37-39 Kirk Gate in Newark, Nottinghamshire. The chance to purchase an historic Listed building in Newark town centre, which has established planning consent for both retail and leisure use. The freehold is being offered at a guide price of £125,000 to £150,000.

Lot 26, a former grain store and land in Barnetby Le Wold in North Lincolnshire. The site, which totals 0.42 acres (0.16 hectares), lies in close proximity to Humberside Airport and is guided at £10,000 – £20,000.

Lot 35, 23-25 Station Street in Mansfield Woodhouse, Nottingham. A substantial Grade II Listed former chapel, previously used as office accommodation, with the possibility of converting it to residential use subject to consent. The property is guided at £60,000 – £80,000.

Lot 47, 21 and 21a Ashworth Avenue in Ruddington, Nottinghamshire. A strong investment opportunity, comprising two retail units and two self contained ground and first floor flats, which also offer the potential for future development. The property is being offered at a guide price of £200,000 – £225,000.

Bob Crocker, director and auction co-ordinator at Savills Nottingham, comments: “We have continued to receive considerable interest in the upcoming May auction, despite the recent increase in stamp duty for buy to let and second home buyers. As a result, we still expect to see plenty of investors and developers looking to secure a quick and efficient purchase via the auction process.”

Paul Giles, head of commercial auctions at Savills Nottingham, comments: “Once again the May auction offers a diverse number of opportunities across a wide geographical spread. Following the changes to stamp duty in April, we anticipate that a number of smaller investors may now start to consider commercial lots in order to avoid charges and diversify their portfolio.”


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