Birmingham auctioneers set to lure investors with £1 properties

A Birmingham auctioneer is hoping to lure property investors to its latest sale by offering terraced houses for the bargain basement price of just £1.

The three properties are all situated in the North East and while in need of refurbishment, are said to offer great rental potential.

The mid-terraced, two-bedroomed properties in Middlesbrough, are among the rather more unusual lots at SDL Auctions Bigwood’s next sale, which takes place at Villa Park on July 6.

Gurpreet Bassi, SDL Auctions’ partner and head of auctions, said: “These three properties offer excellent investment opportunities in the rental market and will potentially bring in attractive revenues once they have been refurbished.”

The three £1 properties stand flush to the pavement with back yards at 9 Sadberge Street and 11 Peaton Street in Middlesbrough town centre, and at 17 Bristow Street in North Ormsby, and are being offered on behalf of receivers.

The properties form part of a sales list which is the largest ever presented by SDL in Birmingham.