Bargain! Former Rainworth chippy sells for £85k at auction

The Preston Plaice fish and chip shop, on Preston Road, Rainworth, fetched £85,000 from a guide price of £73,000.

The three-storey semi detached retail premises comes with residential accommodation above, featuring a living room and kitchen on the first floor, and three bedrooms and a bathroom on the second.

The business was previously a successfully family run chip shop for many years, but was put up for sale through SDL auctions, and went under the hammer at an auction in Nottingham.

The SDL listing states: "We have been informed that the property has previously been let on a long lease for £1,080pcm (£12,960 per annum). We believe there may be potential to achieve a higher income once the property has been renovated."

A Skegness apartment just a few minutes’ walk from the beach with a guide price of just £5,000 attracted keen bidding at the same auction, selling for £23,000.

Refurbishment properties are always popular at auction and an end-terraced house on Grove Cottages, Pleasley sold for £56,000 from a guide price of £46,000.

Andrew Parker , auctioneer and managing director at SDL said: “We had another great turnout at our Nottingham auction and it was good to see new bidders there, as well as some familiar faces.

"While the properties were as varied as ever, they all have one thing in common; by being sold at auction they will all result in a fast, transparent and hassle-free transaction for both buyers and sellers, with completion taking place in 20 business days.

"It’s no wonder so many people choose to buy and sell property this way.”