One vendor unloads nine BTL lots at Loveitts auction

A single vendor sold nine buy-to-let properties for close to £1m at the Loveitts auction on 20 September. The rented homes in Nuneaton, Warwickshire, were guided at £95,000- £115,000 and produce incomes of between £5,400 and £6,000 a year. They sold to multiple buyers for prices ranging from £100,000 to £114,000, reflecting yields of 5.27-6.05%.  The total raised for the portfolio was £987,500. Sally Smith, director and auctioneer at Loveitts, said: “The rental market in Nuneaton is booming right now and we are seeing a real growth in buy-to-let properties. The town is also an attractive location for renters as it enjoys strong links to surrounding towns and cities, as well as a bustling town centre and good schools.” The sale as a whole raised £2.7m from 28 lots sold, a 64% success rate. It was held at the Village Urban Resort on Coventry Business Park.  To send feedback, e-mail julia.cahill@egi.co.uk or tweet @EGJuliaC or @estatesgazette