There are some who derive their living through rental investments, some in commercial premises, some in garages and many who invest in residential properties (houses, cottages and of course flats). As the latest auction hits the virtual shelves, there is plenty to choose from including various ‘flat’ investment lots.
Lot 100, is an attractive period property, being offered on instructions of the Trustees. It is arranged as eight flats, two have their own gardens with the remaining six having a communal garden. There is a communal parking area and collectively the eight flats are currently let at £61,980 per annum. There may also be scope for a further flat in the loft, which has three windows to the front and a window to the rear, subject to all the necessary consents being obtainable. College House lies on the western side of Faversham in Kent and sits on about a third of acre. There may also be potential for an additional dwelling within the communal garden, again subject to all necessary consents. It is being offered freehold with an auction guide price of £750-800,000.
If this lot is a little (or a lot) out of your current price range then also on offer, is Lot 7, is a two bedroom freehold garden flat with its own access off Fern Bank Crescent, Folkestone. Currently let at £7,200 per annum it has a pre-auction guide price of £90-95,000.
Lot 17 is a one bedroom seafront flat in Littlestone, Kent, close to a lovely beach for a stroll. It’s also close to local shops with the larger town of New Romney within a short drive. Again currently let at £7,200 per annum, but with the tenant due to vacate early June, there is the potential for either owner occupation or re-letting. It has the remainder of a 990 year lease from 2008 and a pre-auction guide price of £90-95,000.
One further lot which may suit the investment market is a well presented two bedroom second floor flat located in Folkestone town Centre. It is therefore close to shopping facilities, restaurants, and other town amenities and is a short walk to cobbled The Old High Street which leads down to the Creative Quarter and harbour. Lot 57 is being offered with the remainder of a 999 year lease from 1960 with a guide price of £105-110,000.
The above are just a few of the lots coming up in our latest exclusively online auction, with several other investment properties situated throughout the region. Please feel free to peruse the latest e-catalogue, watch the videos and download the legal packs – there could be more lots that may suit your criteria. Happy bidding.