A FOUR-bedroom terraced property in Forest Fields is among four lots in Nottinghamshire to go under the online hammer with John Pye Property next week.
The property in Cedar Road is centrally located in an area of high rental demand and although in need of modernisation it is a hub for commuters and will be popular with bidders, says Richard Reed MRICS, head of property at John Pye Property Auctions.
“The current average value for terraced properties in Forest Fields is £91,694. With a guide price of £99,950, this property has a lot of potential and has the possibility of being turned into a five-bedroom let which could create an annual income of £22,100.
“Forest Fields is great for commuters working or studying in the city and there is therefore plenty of demand for rooms to let.”
A three-bedroom semi-detached property in Wollaton is also coming to auction on 28 and 29 June with a guide price of £129,500. Situated in Trowell Avenue, the traditional property has period features throughout.
John Pye’s June auction will be the largest it has held since starting the property branch in 2014.
“We have seen incredible growth in the last three years across John Pye Property and I am excited to say that this month we are holding our largest ever property auction with 47 lots equating to £7.5 million of stock,” Richard added.
“Due to more people becoming familiar with online auctions and using the method to either invest in property, pick up a bargain or buy their first home we now hold our online property auctions every three weeks.
“Turning online clicks into bricks is something we pride ourselves on and we know the online method and ease of bidding on the go or from a portable device is what our sellers, agents and buyers want.”
John Pye Property also has two other properties across Nottinghamshire entered into its June online auction. The auction will go live on 28 June and finish on 29 June 2017.
Visit www.johnpye.co.uk/property-auctions to bid or phone 0115 970 6060 for more information. Viewings are available by appointment.