Refurbishment properties proved popular with bidders at a recent auction event.

Investors and developer appreciated the opportunity to add value to terraced homes in particular at the SDL Auctions Cheshire and North Wales auction at Chester Racecourse.

One such property was a three-bedroomed terrace with sea views in Groesffordd, Greenfield.

The property was the first lot of the day, getting the bidding off to a good start by selling to a telephone bidder for £63,000 from a guide price of £40,000+.

The stand-out lot of the day was a derelict single-storey cottage with outbuildings and grounds, which attracted enthusiastic bidding.

As the final lot to go under the hammer, the sale of the property in Tan Lan, Ffynnongroew, ended the auction on a high note, attracting a price of £76,000 from a guide price of £20,000+.

Debs Latham, head of residential auctions at SDL Auctions Cheshire and North Wales, said: “It is always satisfying to get good results for our vendors and especially to know that run-down properties are about to be given a new lease of life to provide much-needed homes for people.

“As one of the largest auctioneers in the country, we have access to a wide network of private buyers, investors and developers, who are all looking for their next property project.

"Buying and selling at auction couldn’t be more straightforward, avoiding the hassle of lengthy chains and potential fall-throughs, and I’d urge anyone looking to sell a property to consider the auction route.”

Last year, SDL Auctions sold 2,135 lots, raising £215 million, representing an increase of 25 per cent on the previous year.

In February alone, SDL Auctions raised £21.5m for sellers.