Up for auction… two Spalding properties on market for first time in 50 years

Two town properties are set to go under the hammer after being put up for sale for the first time in more than half a century.

These Spalding building - six flats at 15 London Road and The Bungalow at 7 Orchard Street - will be sold as one lot via Auction House East Anglia on March 26.

With a guide price of £499,000 (plus fees) - and an existing gross annual rental income of £57,600 - these properties present an opportunity for an investor searching for significant rental income, or someone interested in making immediate profits by selling off individual units.

“This is the first time these properties have come to market in over 50 years, making this an enticing opportunity that should not be overlooked,” said Gary Davison, regional manager at Auction House East Anglia.

“Whether viewed purely as an investment or as a commercial development project, this property has huge potential.”

The London Road property dates back to the late 18th or early 19th century and forms part of the historic Welland Terrace, a collection of Grade II-listed buildings with views over the River Welland.

Originally a family home, it was converted into flats in the 1980s and now offers six spacious one-bedroom apartments.

Four overlook the front of the building with river views, and two are formed from a rear extension.

Each flat has an allocated parking space.

Externally, the façade of the building has been carefully maintained, with all woodwork repaired, treated and painted.

This freehold property is currently fully let.

To the rear of 15 London Road is an appealing one-bedroom bungalow.

Originally a workshop, this property was completely rebuilt in 2010 to meet high conservation standards.

Constructed of durable brick with a classic slate roof, it boasts modern updates such as new windows and a new roof, ensuring peace of mind for years to come.

The bungalow also benefits from parking for two cars and an enclosed patio garden, ideal for relaxation. This property is a perfect purchase for those seeking a distinctive, low-maintenance investment.

Viewings can be arranged by calling 01733 889833.