A partially converted barn, a former social club and a multi-let investment earning over £40,000 per annum are among the value-add opportunities in an upcoming auction.
On Tuesday 14th July, Auction House Chesterfield & North Derbyshire will put an amazing line-up of properties under the hammer – including three Chesterfield lots with plenty of potential for investment portfolios.
Commercial refurbishment with a potential £25,000-£30,000 income
Positioned on Brimington’s high street, the former Brimington Social Club could be a fantastic refurbishment opportunity for a hands-on investor. With approximately 4,831 square feet on the ground floor, and an additional 4,800 square feet on a lower ground level, this building could be reimagined into a sizeable hospitality, leisure or commercial space with the right permissions.
Commenting on the property, David Tate, Principal and Auctioneer for Auction House Chesterfield & North Derbyshire, said: “Buildings of this size don’t come up often on Brimington high street, and the lower ground level gives buyers real flexibility on what to do with it. It needs work throughout, but with the right permissions there’s scope for a hospitality or leisure venue that would suit the area. Based on comparable lettings, it could generate a generous annual income of £25,000 - £30,000 once it’s up and running.”
Brimington Social Club, 33 High Street, Brimington, Chesterfield, Derbyshire, S43 1HH
Guide price of £75,000+ (plus fees)
Country getaway in the making
With open countryside views, Eastwood Barn in Woodthorpe has all the makings of a beautiful rural retreat. Set on a plot of around 0.25 acres, the partially converted barn will have a lounge, kitchen and second reception room/bedroom on the ground floor once complete. The first floor will then have three bedrooms, two of which could have ensuites.
David Tate believes this would be a great project for a developer to finish off: “Eastwood Barn is one to see in person. Photos only tell you so much and the views and the plot do the talking when you’re standing there. The previous owner has done a lot of the structural work already; it now needs someone with the right vision to bring the plan to fruition. Once complete, the property will offer generous accommodation of over 2,000 square feet, making it the perfect family home.”
Eastwood Barn, 23 Bridle Road, Woodthorpe, Mastin Moor, Chesterfield, Derbyshire, S43 3BY
Guide price of £195,000+ (plus fees)
Earn a £40,000 annual income with this multi-let investment
Savvy investors looking for a new profitable asset for their portfolio should certainly take a closer look at this multi-let investment of three properties, which will be sold as a combined lot.
15 Cavendish Street is tenanted by Akhi’s, who have just signed a new seven-year lease for £13,000 per annum. The nearby property of 16A Stephenson Place is rented by Imran’s Diner for £10,000 per annum and 16 Stephenson Place is let to Lennon’s Snooker Centre for £17,600 per annum.
David Tate said: “This lot is sure to appeal to commercially minded investors. Based in the centre of Chesterfield, each property is currently earning a tidy income. Akhi’s have recently renewed their lease, and the vendor has advised us that the remaining two businesses are also looking to extend their contracts for a further seven years. For an investor who wants something producing from day one rather than a refurbishment project, it’s a rare lot.”
16 & 16A Stephenson Place and 15 Cavendish Street, Chesterfield, Derbyshire
Guide price of £300,000+ (plus fees)
Learn more about each property’s potential
All of these properties will be going to auction on Tuesday 14th July. The livestream event begins at 12.30pm.
Interested bidders can book viewings and learn more about each lot by calling our team on 01246 232 698 or emailing chesterfield@auctionhouse.co.uk.
