Budding renovators are being offered an ideal investment opportunity as a ‘fixer upper’ project in Sheffield comes to auction on April 5-6.
The two bedroom end terrace, located in St Johns Road in Laughton, is in desperate need of work to bring it back to life. Once fully restored, it is thought the property would be ideal for commuters or even a young family.
Richard Reed MRICS, head of property at John Pye Property Auctions, said: “The location is ideal for families as its semi-rural village location offers good local amenities and is close to schools.
“Alternatively, it could be suited to young professionals as it has easy access to both Sheffield and Rotherham with excellent links to the A57, M18 and M1.
“The property is currently listed with a guide price of £40,000, and needs extensive work doing to bring it back into good repair. Therefore, it would make a great DIY project to add to someone’s portfolio.
“Once renovated, it’s estimated that the property could let for around £525, giving a gross yield of around £15.75%.”
With two well-proportioned bedrooms, yard spaces at the front and back of the property, and space to create off street parking for multiple vehicles, the property boasts a lot of potential.
The lot is part of a £4.5 million auction featuring a range of commercial and residential properties.
Richard added: “Bidders will be able to browse our property portfolio online, as well as arranging viewings, and then bid over the course of 48 hours.
“The John Pye online property auction has grown significantly since its inception and we now hold our market leading online property auctions every three weeks.
“This will mean a total of 16 auctions will be held throughout 2017. This provides sellers, agents and buyers increased opportunity to sell and buy through our auctions, which are all accessible from any mobile device or computer.
“We have decided to continue our market beating 0% seller fees and nil entry costs, meaning any sale of property through our auctions will be without any agency fees or associated marketing costs.”
John Pye Property regularly features properties from London, Manchester, Liverpool, Birmingham and Nottingham. Viewings are available by appointment. Potential buyers are being invited to submit pre-auction offers now.
Visit www.johnpye.co.uk/property-auctions to bid or phone 0115 970 6060 for more information.