EIGHT houses in one East Lancashire town are going under the hammer, with a starting price of £37,500.

The eight terraced homes ­— four vacant and four let ­— are being sold on behalf of a national charity and are all within walking distance of each other in Rishton.

They will be sold by SDL Auctions at the AJ Bell Stadium in Manchester, on Monday December 9, and could be snapped up by budding property investors or first-time buyers.

Andy Thompson, head of auctions, said: “These properties represent excellent value and could be a great way for a first-time buyer to get on the property ladder.

“But we feel these lots will be particularly attractive to buy-to-let investors.

"Half of the properties are already tenanted, which means you’ll see a return on your investment immediately.

“And being within a few streets of each other makes these properties ideal for those who want to build up a portfolio quickly.

“From a maintenance point of view, it can be very useful having your rental properties so close together – and four of the Rishton properties are on the same street.”

There are three properties with tenants in them:

• 51 Commercial Street, Rishton, is a two bedroomed mid-terrace with two reception rooms, an upstairs bathroom and a rear yard. It is currently let on an assured shorthold tenancy at £4,740 per year and has a guide price of £43,000 plus.

• 35 Commercial Street, Rishton, is a two bedroomed mid-terrace on the same street, again with two reception rooms, an upstairs bathroom and rear yard. It is let on an assured shorthold tenancy (AST) at £4,740 per year and has a guide price of £44,000 plus.

• 37 Station Road, Rishton, is a three bedroomed mid-terrace with two reception rooms, an upstairs bathroom, a shower room and a rear yard. It is currently let on a six-month AST at £7,800 per year and has a guide price of £62,000 plus.

• 49 Commercial Street, Rishton, is another three bedroomed mid-terrace with two reception rooms, a bathroom, a shower room and a rear yard. It is let on an AST at £4,800 per year and has a guide price of £54,000 plus.

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The other properties are all vacant and have a hallway, lounge, kitchen and dining room on the ground floor, with two bedrooms and a bathroom upstairs, and a rear yard.

• 57 Burton Street, Rishton, has a guide price of £39,000 plus.

• 45 Commercial Street, Rishton, has a guide price of £43,000 plus.

• 16 Parker Street, Rishton, has an additional store room on the first floor and a guide price of £38,500 plus.

• 44 Brook Street, Rishton, has a guide price of £37,500 plus.

Mr Thompson added: “Rishton is a great location as you have all the day-to-day amenities on your doorstep, with Blackburn and Preston close by and easy access to beautiful open countryside.”

Call 0116 774 7333.