Former Chinese takeaway in Ilkeston up for auction

This chinese takeaway  in Ilkeston is now up for auction
This chinese takeaway in Ilkeston is now up for auction

A former Chinese takeaway in Ilkeston is to go under the online hammer in an auction with planning consent to turn it into six one bedroom apartments.

A former Chinese takeaway in Ilkeston is to go under the online hammer in an auction with planning consent to turn it into six one bedroom apartments.

Now is a good time to snap up a bargain. The apartments will sell between £60k and £70k.

Welcome Chinese restaurant, situated in The Triangle has a guide price of £72,000 and could be picked up by online bidders as a development opportunity when it comes to market on Wednesday July 6 and 7 July.

Richard Reed MRICS, head of property at John Pye Property, said: “Although there is currently some uncertainty in the market as to what the recent vote to leave the EU will mean for the property industry - now is a good time for investors to snap up a bargain.”

Planning consent was granted by Erewash Borough Council on 11 May this year for the demolition of the current single storey commercial buildings and the construction of six residential apartments.

Richard said: “It is envisaged that each of these apartments will sell on the open market between £60,000 and £70,000 once complete, depending on the standard of finish. The plot is in a desirable location close to the town centre and has excellent transport links.

“We pride ourselves on featuring properties that offer a great investment or refurbishment opportunity for buyers.”

Online auctions are fast becoming a conventional way to buy and sell properties and more people are expected to use online auctions to boost their property portfolio during this time of uncertainty.

John Pye Property is putting more than £5 million of stock featuring 39 residential and commercial lots in its July auction – the largest number of lots to date this year - changing the way property is being bought and sold.

The online auction will go live on 6 July and finish on 7 July 2016.

Visit www.johnpye.co.uk/property-auctions to bid or phone 0115 970 6060.