An entire Telford street is set to be auctioned off - here's how much it could go for
An entire Telford street is set to go under the hammer at a property auction next week with a guide price set at over £1 million.
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A total of 10 houses at Lodge Court in Donnington Wood, Telford, are set to go under the hammer this month, with the lot expected to fetch at least £1.2m.
The street has previously been on the market for just over £1.5m, having been listed on RightMove in December.
Auctioneers say that four of the two-bedroomed properties are currently occupied by tenants, with another five currently sitting vacant. One property is currently used as accommodation for a caretaker.
Andrew Parker, auctioneer and partner at SDL Property Auctions who are handling the auction, said the auction would represent a "great opportunity" for a buy-to-let investor, with the development set to generate in excess of £100,000 per year in rental income.
“The houses were built around 20 years ago by the same developer who is now looking to dispose of all 10 properties,” he said.
“We have been advised that there is a current offer of a five-year deal to take all 10 houses at a rent of £850 a month each, which equates to £102,000 per year.
“The lettings market is extremely buoyant in Telford and, because the houses are tucked away in a quiet residential area with only a couple of neighbours nearby, this would make an excellent assisted living development as well as being a great opportunity for a buy-to-let investor.”
SDL Property Auctions say the auction will be live streamed online via the company's website on February 27, with bidder registration closing on February 26.
