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Sam’s Auction Tips: Issue 5

May 19, 2010


WELCOME to issue 5 of my TRIO of real auction tips from around the country!

Results from Tip sheet 4: Real Homes which sold under the hammer

Tip 1: North London – Recommended buying price: £185-205k. Sold for £256k

Tip 2: North London – Recommended buying price: £160-180k. Sold for £165k

Tip 3: Hampshire – Recommended buying price: £85-95k. Withdrawn before auction

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Tip 1: South London

Description: A Freehold Semi-Detached Building internally arranged to provide Two Self-Contained Flats
Guide: £180k +
Area Notes: Situated in a residential area conveniently located for the town centre, tube and railway connections (approx ¼ mile away). Located in Zone 2 this property offers easy access to central London and also surrounding areas via major roads.  This property should appeal to first time buyers and tenants who are working in the area or commuting. The property has excellent transport links and is within walking distance to a wide range of amenities and green open parks.
Land Registry: Recent property sales: 4/12/09 @ £665k, 19/10/06 @ £370k and 25/11/05 @ £462.5k
Sales data suggests retail price: £390-430k (per flat £195-£215k + freehold)
Rental figures suggest: £1700-1900 pcm (per flat £850-£950)
Research indicates: The property comprises a semi-detached building arranged over ground and first floors. Internally the property is arranged to provide two self-contained flats. The ground floor flat benefits from a rear garden.  Ground Floor Flat Reception Room, Bedroom, Kitchen, Shower Room with WC and wash basin First Floor Flat Reception Room, Bedroom, Kitchen, Bathroom with WC and wash basin. This bay fronted property offers opportunity for development (subject to planning) as you are buying the freehold and may be able to extend and create an additional flat/ bedrooms.  The price guides here are based upon the existing accommodation.

This property offers a good opportunity for a small developer to upgrade and split the flats into leasehold to sell or rent. The proximity of the property to an improving central London area should make this a popular choice.

Recommended buying price: £240-270k
Potential yield: Approx 7.6% – 9.5%

Tip 2: Hampshire

Description: 3 bed end of terrace house
Guide: £90k-£110k
Area Notes: Located in a sought after residential area this property is situated within walking distance of the town centre, local schools and further amenities. The property is well located for cliff top walks and access to the local beach.  There is a railway station approx 2 miles from the property and good road networks for access to neighbouring larger towns. This is a well regarded area which would ideally suit a first time buyer/ growing family.
Land Registry: Very low churn – one property sale on record: 16/12/05 @ £185k
Sales data suggests retail price: £185-200k
Rental figures suggest: £700- 800pcm
Research indicates: This property occupies an enviable location of being a family home which suits both work and play. It is well located for transport connections to larger cities for employment and also is situated close to the award winning beaches.  This area is sought after by locals wishing to stay in the area, those looking to move into the area for the perceived “good life” (of work and play) and those returning from faster-paced cities, such as London, to start their family.  This property also offers good value family accommodation in an area which is often above the national average house price. Bought at a competitive price this property could offer a good opportunity to improve and sell, or potentially as a “keep-and-hold” as part of a wider investment strategy.
Recommended buying price: £110-140k
Potential yield: Approx 6% – 8.7%

Tip 3: Cambridgeshire

Description: 2 bedroom end of terrace house – freehold
Guide: £85k+
Area Notes: This property is located within a purpose built estate to the north of the town centre. The property is a modern style starter property. This is a popular residential area which offers easy access to the local town and surrounding areas.  The local town offers a range of shops and amenities with further facilities to be found in surrounding towns and cities. The area is popular with commuters due to the close proximity of excellent transport routes and it’s affordability. The motorway is approx 3 miles away, mainline train station 5 miles away and the city of Cambridge 17 miles to the south.
Land Registry: Recent property sales: 30/11/07 @ £124,995k, 24/9/07 £125k and 1/6/07 @ £217k
Sales data suggests retail price: £115-130k
Rental figures suggest: £550-600
Research indicates: This property will appeal to tenants and buyers who are looking for a convenient choice – both in terms of proximity to commuter routes and in terms of property upkeep and maintenance. The modern style of the property and the estate offer an easy choice for buyers/ tenants looking for a low hassle property option. The area is well located and well priced for commuters travelling to Cambridge, Peterborough and surrounding areas. The modern build of this property should mean most work is cosmetic and offers a low maintenance investment property – or a possible improve and sell.
Recommended buying price: £85-100k
Potential yield: Approx 6.6% – 8.5%

Sounds interesting? What do you fancy doing next?

Package 1 – The Straight Analysis

  • Give you the details of the property and auction house and you do the rest
  • £9.99

Package 2 – The Full Shebang

  • I will personally do a viewing, take loads of photos, conduct a live rental market assessment [on top sites – Rightmove, Zoopla, Yahoo et al]
  • Arrange a solicitor to check the legal pack
  • Arrange a surveyor to inspect the property and produce a report
  • Attend the auction/ accompany you to auction/liaise by telephone and bid
  • Organise a financial advisor to contact you and arrange finances
  • £299 + professional fees of surveyor, solicitor, advisor

Package 3 – Personalised Auction Updates

  • The property scout service means you can subscribe to receive weekly upcoming auction details for your areas of choice [up to 3] – for just £10 per month!

Contact me:

Please note: Upon successful purchase a finder’s fee commission of 0.5% of purchase price will be added to your bill. This guide is prepared in good faith; I am under no legal obligation to you in respect of the information contained in this document. The properties have not been inspected or surveyed.

First time you’ve seen Sam’s Auction Tips? – Let me introduce myself and the idea!

Why did I do this? My financial advisor convinced me to share my knowledge with other people as it’s not so easy to get as much funding as it once was – which means I find loads more interesting properties than I can buy!  The theory is I get to share my knowledge and tips – you want to know more – and then maybe, just maybe, we get to do something together?

Why should you listen to me? I own a development company, am a substantial nationwide property investor and own a lettings, management and maintenance company – Gorgeous Homes, and an online property portal for private landlords –

I can’t tell you I know it all, no-one can, but I can offer a few tips for anybody interested enough to have a look.  These are the properties which if I had enough money I would be looking to buy.  The essentials of my research are here for you to feast on. It’s only a guide, it’s not advice – it’s a lead and if you want to take it further, that’s up to you

One Comment leave one →
  1. May 20, 2010 2:52 am

    Residential landlords may be negatively impacted by changes to the capital gains tax proposed by Britain’s new Conservative-Liberal Democrat coalition government.

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