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Development and land opportunities at Cheffins’ property auction

Cheffins’ first property auction post-lockdown will see nine lots offered in a live webcast sale from the firm’s salerooms in Cambridge on July 15.

Bidding will only be available online, by proxy or by telephone and the auction will include a variety of development opportunities, land and mixed-use income-generating properties.

38-39 High Street, Kings Lynn is on offer in Cheffins' property auction (38088651)
38-39 High Street, Kings Lynn is on offer in Cheffins' property auction (38088651)

The headline lot is a prominent 4,774 sq ft three-storey commercial building in the heart of King’s Lynn. Currently let by Vision Express at a rent of £45,000 per annum, the building is located in an area of high footfall. Vision Express has recently refurbished the ground and first floors to a high standard and is currently on a 10-year lease, expiring in April 2027. It has a guide price of £550,000.

For those looking for a residential development opportunity, there is a detached house needing complete renovation in Soham, with views over East Fen Common. With three bedrooms and set in a plot of 0.24 acres, it offers a project for both buyers and investors. The property has a guide price of £130,000 and has already attracted considerable interest.

Also in Soham is an opportunity to buy a development site offering two barns with full planning permission to create a four-bedroom detached house with a garage. The site currently includes two traditional barns with an open yard which would eventually provide an enclosed garden and off-road parking. This lot would appeal to a self-build owner occupier or developer buyers and has a guide price of £90,000 - £100,000.

Hodsons Barn, Soham, has two traditional barns and a yard (38088656)
Hodsons Barn, Soham, has two traditional barns and a yard (38088656)

There are two lots of arable available in Stretham, near Ely - one of 19.01 acres with a guide price of £140,000 and another of eight acres with a guide price of £60,000. Both parcels are situated in a prime location adjacent to the A10 Cambridge Road..

Ian Kitson, director of Cheffins, said: “As our first sale post lockdown, the July auction will be illustrative of market appetite across a variety of property types. We are hoping that by retaining the ability to leave a bid by proxy or on the telephone as well as online, this sale will be available to buyers of all technical ability.

“The two residential development opportunities in Soham have seen the most interest so far in the July auction, as an increasing number of purchasers look to move to rural locations. Similarly, the Vision Express building in King’s Lynn with its solid income is likely to be of interest for investment buyers looking for stable returns at an unpredictable time.”

The auction will take place from 2pm on Wednesday, July 15 at cheffins.co.uk/property-auctions.htm. For further information, contact Cheffins’ property auction team on 01223 213343 or email property.auctions@cheffins.co.uk.

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