Historic farmhouse and cottages in need of renovation for sale at auction
- Credit: CHEFFINS AUCTIONS
A 19th-century farmhouse near Ely with more than an acre of gardens that needs complete renovation will go under the hammer next month.
Dairy Farm House in Queen Adelaide - which has an estimate of £250,000 to £275,000 and was previously used as a herb nursery with a former shop - will be sold at a Cheffins auction on March 2.
Also available at the auction will be a pair of semi-detached bungalows, east of Littleport on a 0.74 acre site, which are in need of full renovations and have an estimate of £120,000.
There is also a pair of Burwell cottages totalling 2,262 sqft in need of complete refurbishment with views over open countryside.
With an estimate of £180,000 to £200,000, the property has seven bedrooms.
Also available at the auction will be a former agricultural building in Cardinal’s Green, Horseheath, which has prior approval for conversion into a detached single-storey house.
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Planning permission has been approved for an open plan living/dining/kitchen, two bedrooms and two bathrooms.
It sits in a site of 0.465 acres and overlooks open countryside and has an estimate of £185,000.
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Also up for auction will be residential properties not in need of renovation, including a first-floor flat at Amberley House in Newmarket.
Converted from a former mansion house, the flat has two bedrooms, use of communal gardens and off-road parking. It is estimated to sell for £140,000 - £145,000.
There are also three flats available in a newly converted public house, The George, in Somersham, that are estimated to sell from £90,000 upwards.
Ian Kitson, director of Cheffins, said: “Dairy Farm House is an unusual opportunity to buy a substantial, period house with a series of useful outbuildings that offer buyers the chance to add value.
"Although the property needs complete renovation, it has the potential to create a beautiful family home and is a fantastic opportunity for those who seek a renovation project in the countryside.
"The market for residential projects is continually buoyant, especially as East Anglia continues to see some of the fastest growing house prices in the UK.
"The benefit of buying a property through the March sale is that any buyer would be able to complete on their purchase ahead of the end of the stamp duty holiday, saving thousands on the tax bill.
"Capital growth for residential property continues to be solid, with Nationwide reporting values to have finished 2020 up 7.3 per cent on 2019.
"With this in mind, there are a number of buyers who have been priced out of the market, or who are struggling to upsize.
"Whilst developers are always keen to acquire residential options at auction, there is definitely an increase in the number of private individuals also heading to the auction room in order to pick up a project.
“In accordance with government guidelines, the sale will be hosted via a live webcast format.
"However, any potential purchasers will have the option to view properties ahead of the sale on an appointment-only basis.
"We will be following strict social distancing guidelines at viewings in order to keep both our staff and clients safe.”
The auction will take place online on Wednesday March 2 from 2pm.