Our July auction room was packed with over 400 bidders and the rooms atmosphere was electric.
July’s auction proved that auction properties are not purely for bargain hunters.
More and more private individuals see auctions as a quick and transparent way to buy all types of property. In fact some of the prices achieved actually outperformed the private treaty market. This evidence of the prices achieved led to several buyers entering their stock for our next auction immediately after the auction!
Commercial Highlights from July’s Auction
Outperforming the Market
Right Property – Right Auctioneers
Investment Property – Hulme
Sale was agreed initially at £93,000 – however it stalled and was entered into our auction, we achieved £116,000 on the day.
Vacant Industrial Unit, Salford
Offered with a guide price of £85,000 – competitive bidding ended at £131,000, equating to £94 psf.
Historic café, Isle of Man
Situated adjacent to major tourist attractions – previously on the open market for 18 months without success, sold for £250,000.
Day Centre, Macclesfield
On behalf of Local Council, a 5,500 sq. ft. building on 0.66 acre site sold from a guide price of £185,000 for £345,000, equating to over £520,000 per acre.
“All proof that the right auctioneer can produce amazingly unpredictable results for vendors. The main decision for vendors is choosing the right auctioneer!”
Residential Highlights from July’s Auction
Sold in the room for £45,000. Again multiple bidders in the room on a property that had no access for viewings and all interested buyers were bidding blind not knowing the condition etc.
15 Grosvenor Road
Guided at £125,000 and sold for £205,000 to a phone bidder that still hasn’t seen the house.
A fire damaged house
Guided at £70,000 and sold for £106,000. The vendor was in the room and was delighted with result. He’d previously agreed 3 private sales which had all fallen through at prices between £70,000 & £80,000.
Further to the above highlights we were delighted to have sold 3 properties sold in Northern Ireland. Lots 33, 34 & 35 all sold way over the guide prices with 6+ phone bidders on each lot and buyers in the room who had travelled all the way to the Macron Stadium to bid.
“This activity shows that we can sell out of area and buyers will travel or make arrangements to bid if the property is guided at the right price.”