10 Downing Street goes under the hammer

Graham Penny Auctions to sell one of the most famous addresses in the UK?

Warren Lewis
31st July 2014

Graham Penny Auctions to sell one of the most famous addresses in the UK?

Graham Penny Auctions has a property going under the hammer in its next auction with a very recognisable address – 10 Downing Street.

This property isn’t the home of the Prime Minster though, it’s not even got the famous black door, instead it’s a traditional three storey two bedroomed end-terraced house in Sutton in Ashfield on the market for only £40,000+.

Vejay Pal, senior valuer at Graham Penny Auctions Nottingham, commented:

“It’s not every day you see 10 Downing Street for sale. This clearly isn’t the head of government’s home, however we’ve already received a huge amount of interest in the property a month before the auction – no doubt in part because of its better-known double.

The lot itself is an ideal investment property benefiting from gas central heating and double glazing. It does require some cosmetic improvement and upgrading but with a little effort it could produce a healthy return or yield for a property investor or landlord.”

The property comprises a lounge and breakfast kitchen on the ground floor, a double bedroom and bathroom/WC to the first floor and a double attic bedroom on the second floor. It is being sold by auction on Thursday 4th September and Nottingham Racecourse. Successful buyers will pay a £750 buyers fee along with a 10% deposit on the fall of the gavel to secure the sale and completion will take place only 21 days later.

Vejay added:

“The attraction of buying a property at auction is that it’s a straightforward, transparent and quick process. On the fall of the hammer, the sale is secure, contracts are exchanged and the sale is completed within a month. Then the new owner can start reaping the benefits of the addition to their property portfolio.”
Related articles
More from Auctions
Latest from Financial Reporter
Latest from Commercial Reporter