A mixed-use two-storey building on Mill Road in Cambridge will lead the Cheffins Property Auction on 5th March, taking place from the firm’s salerooms in Cambridge. This will be offered for sale along with a further 12 lots, including land, residential, commercial and development opportunities.
With an estimate of £450,000 - £500,000, the property on Mill Road includes a ground floor commercial unit, most recently used as a beauty salon, and a one-bedroom flat on the first floor. There is also a small garden to the rear and pedestrian access to the building from Catharine Street. This is followed by a Grade II listed building in Chatteris, which is currently divided into four residential flats. Guided at £300,000+, the building, which dates from 1789, is offered freehold and comes with communal gardens and parking.
Another unusual development opportunity is a former Methodist Church at Eaton Ford, near St Neots, which dates from the late 1800s. It has an estimate of £100,000+ and has potential for conversion for either residential or commercial use, subject to planning consent. In addition, a dilapidated detached cottage in Welney, near Wisbech offers further potential for developers, and has planning permission for replacement with a three-bedroom house. This has an estimate of £150,000+. For those looking for a less comprehensive project, a three-bedroom semi-detached house in Hauxton needs updating and modernisation, and has an estimate of £275,000+.
For land purchasers, three acres of grassland with buildings north of Iram Drove in Willingham are offered with an estimate of £295,000; while smaller opportunities are also available, including; three parcels of arable land in Witchford, Ely; 1.53 acres of amenity land in Wentworth, Ely; a parcel of just over two acres of grassland on the edge of Willingham, Cambridge and 4.58 acres of grassland close to West Wickham and West Wratting, Cambridgeshire.
For commercial investors, a two-storey office building on Newmarket High Street, which is in need of refurbishment, is offered with an estimate of £125,000 - £130,000. There is also a single garage for sale on Hartington Grove, central Cambridge, which is set to sell for £25,000.
Ian Kitson, Director at Cheffins comments:
“Our first property auction of 2025 offers some fantastic opportunities for those looking for residential development opportunities and those looking to increase their landholdings. Renovation projects continue to be perennially popular at auction, and we have seen that they continue to be in demand from both developers and also private buyers. We expect this trend to continue as lowered interest rates make investing in property more appealing, following the downturn experienced last year. Land throughout East Anglia also remains high in value and difficult to obtain, and while the agricultural industry is currently in a state of flux thanks to announcements surrounding new inheritance tax proposals and a poor harvest in 2024, there is still an active buyer base of those looking to increase their landholdings.”
And looking back to 2024, Ian Kitson continues: “2024 was another tumultuous year of wider political and economic uncertainty, but the property markets performed well despite it! While there has been a slight shift in the yields sought by investors, our sales saw strong bidding for assets of all types, reinforcing the view that bricks and mortar (and indeed land) remains a safe haven in turbulent times for investors and owner occupiers alike.”
The auction will take place on Wednesday 5TH March, from 2pm, online at www.cheffins.co.uk
To view the catalogue, click here
For further information, contact Cheffins Property Auction team on 01223 213343, property.auctions@cheffins.co.uk