With the buying season in full swing, we are getting several calls a day from first-time-buyers looking to engage us as Property Finders to help them make their first purchase. With their deposits in hand, auctions are a good way for organised first time buyers to find their first property, as long as they know what they are doing are well advised and extremely well-organised. Here is our pick of the property at Allsops sale in two weeks time.
For first-time buyers hankering after a zone 1 pad or city workers who want a bolthole close to the office, 43 Roupell Street might be the answer. Roupell Street is a quaint street of period cottages originally built for railway workers. The houses are essentially 2 up 2 downs, tucked behind Waterloo East railway station and generally sell for in excess of £650,000. Number 43 has a guide of £400 – £450,000 and presumably needs complete refurbishment. A purchaser with change from £550,000 would have bought a bargain in our mind, although the refurbishment costs could be high – we’ve not been inside.
22 Longmoore Street in Pimlico may be a good option for those seeking an SW1 address. This four floor 3 bedroom period home is on a quiet residential street, but this house is blighted by it’s proximity to the Prince of Wales pub, which will mean noise outside your bedroom window as smokers enjoy their pint outside. For those who can put up with the disturbance, the guide is £700-£750,000 although we would estimate it will reach £800,000 maybe more.
Parents of first year Cambridge undergraduates may be interested in 86 Gwydir Street, another Victorian 2 up 2 down workers cottage in the centre of Cambridge. The guide is £165+ although property here has been achieving £280,000+ for the last two years. This house needs total refurbishment, including new windows and a new front door. This should go for over £200,000 but anything under £250,000 wouldn’t be too bad a buy, and by the time you complete in early July – the offspring will have finished their exams and can get started honing their DIY skills ready for a paying house mate or two in late September.
For new parents keen to escape the rat race and buy more space for their buck, there is a large 4 bedroom detached 50s house on the outskirts of Pembury, between Sevenoaks and Tunbridge Wells. It’s not very pretty and needs a complete facelift, but it sits on a large plot and increasingly the planners are allowing front and rear extensions which will make the house easier on the eye. In our view a new set of Barratt style windows, a coat of coloured render and rebuilding the hideous porch would make a big difference. The guide for this house is £225,000 – £250,000 which is about right in our view.
An alternative is Little Greystones, a new development of 5 3 bedroom town houses on the outskirts of Crowborough in deepest darkest Sussex. The town is well known for fantastic schools in both the state and private sectors and each house is for sale with a guide of £140,000 to £150,000 although there is only one house vacant and the auctioneer will try to sell all five as one lot to an investor, before selling individually.
The next Allsops auction will be held on 2nd and 3rd of June at the Great Cumberland Hotel in Great Cumberland Place London starting at 10.30am. If you need advice from someone who knows how to buy at auction then we are one of the few Property Finders who will be able to help you.
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