The property may be missing part of its roof, but the rewards of repairing it could be worth it.
For those looking to bring a property back to its best before selling or renting it, 38 Dewsbury Road in Wakefield should be on your radar. Due to be auctioned by Auction House West Yorkshire on Wednesday 15th July for £72,000 (plus fees), it could generate a healthy rental income of £850 per calendar month once fully repaired.
A renovation project
38 Dewsbury Road sustained significant damage to the roof after a cannabis farm in the loft led to a serious fire. The roof is now partially missing and significant renovation is needed throughout.
Inside, the layout is typical of traditional red-brick terraces with the front door leading you directly into a good-sized living room. From here you can access the kitchen/diner, which has plenty of space for cooking and enjoying a meal. This room also provides access to the rear garden, which is surprisingly generous and could be transformed into a green haven for future residents.
Up the stairs are the two bedrooms. The main bedroom faces the front of the house and mirrors the size of the living room downstairs. Across the hall is a family bathroom and a second bedroom, which overlooks the garden.
£850pcm rental potential
The two-bedroom terrace is perfectly placed as a future rental property. Based close to Wakefield’s town centre, the house is just a short walk from shops and retail parks as well as Wakefield Westgate’s train station. Appetite for property in the area is strong – a neighbouring house is currently being renovated, and similar properties are comfortably achieving rents in the region of £850pcm.
Commenting on the property, Bryony Grimshaw, Auction Valuer, said: “Fire damaged homes like this can be fantastic projects for skilled developers. Once this terrace’s renovation has been carried out, it could be an attractive option for commuters who want to be close to the train station or M1. With similar properties generating rental incomes of £850pcm, this is an excellent value-add opportunity and we’re expecting a lot of interest.”
Register to bid
The property will be offered to auction on Wednesday 15th July. The livestream event will begin at 12pm.
Interested bidders can call the team on 0113 393 3482 to arrange a viewing or send an email to westyorkshire@auctionhouse.co.uk with any questions.
