February Auction Round-Up


Written by: Paul Thompson on 26th February 2019

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February Auction Round-Up

Our first room auctions of 2019 took place last week and we had over 185 lots on offer, including a record number of former banks, a former water tower with a nil reserve and a former police station, plus a wide range of residential properties, commercial premises and land.

Taking place on February 19th at the AJ Bell Stadium, and on February 21st at Leeds United Football Club, our North West and Yorkshire & North East February auctions helped clients and joint agents achieve sales of over £14 million, with an overall sales success rate of over 73%.

Below, our experts give us a few of their highlights from the auctions.

 
Paul Thompson, Managing Director and Auctioneer

"We were delighted to see a very strong demand for lots in our February room auctions despite the relative uncertainty in the wider markets. There were some particularly outstanding results for all our local authority clients, including the sale of a former care home on behalf of Rotherham Metropolitan Borough Council which achieved double the guide price, and also on the portfolio of former banks where we achieved a 100% success rate. A particular highlight was the sale of three-storey, 2,500 sq ft former bank building on Stockport Road in Longsight which sold for a staggering £250,000 above the guide price.

"Our auctions always see unique properties going under the hammer and our February auctions included the Grade II listed Everton Water Tower, offered at NIL reserve, which sold for over £70,000.

"As always, we would like to thank all our vendor clients and bidders who attended our packed auctions."


  

David Hodgkinson, Director

"We had a very positive February auction in the North West which culminated in some excellent results for our vendors. The Manchester auction was very well attended with good demand across the majority of the listing. Some particular highlights for me included the sale of the Former Poulton Police Station, which sold for 4 times the guide price, and a freehold parcel of land in Radcliffe which sold for 5 times the guide price.

"We look forward to continuing the strong results as we move into our Spring auction cycle, which is traditionally regarded as an excellent auction to offer property with us."


  

Rob Limbert, Director and Auctioneer

"Our first Yorkshire & North East property auction of the year was a huge success. We sold 77% of lots on the day and achieved sales of £3.4m on behalf of our clients and joint agents.

"There were some excellent sales, but a couple of my personal highlights included a parcel of land in Rotherham which sold for 6 times the guide price and a vacant mid-terrace house in Leeds, arranged as three one bedroom flats, which sold for £30,000 above the guide price."


 

Edward Feather, Associate Director and Auctioneer

"From our first round of auctions for the year it’s clear that even with the backdrop of economic uncertainty, there are still a number of buyers in the market for properties in need of development and clients benefitting from the certainty of sale that an auction provides for “project properties”.

"One particular example of this was a three bedroom semi-detached property in Stoke-on-Trent which was sold on behalf of executors having had problems trying to sell through the normal estate agency route. Guided at £110,000, the property sold for £120,000 following competitive bidding on the day.

"Another highlight included the sale of a former canteen site at the Great Fryup Outdoor Centre which sold at our Yorkshire & North East auction."


 

Paul Parker, Property Auction Surveyor

Our February auctions were a huge success with the majority of lots selling as expected. There were a number of parcels of land which attracted good interest, showing that well priced parcels of land with development potential continue to sell well.

These included a parcel of land in Morecambe which sold for £30,000 over the guide price and some land in Liverpool, with planning consent for 8 new apartments,  which sold for over £500,000.


Against economic uncertainty and downward pressure, our February auctions still featured a large selection of lots across a broad range of locations, property types, sectors and prices. The packed auction room and competitive bidding showed the market's appetite despite this uncertainty and we are already seeing high interest for our upcoming Spring room auctions.

So, if you have property or land to sell and would like to have them included in our upcoming auctions, please click here for a FREE property appraisal.

For details of all of our upcoming auctions, click here.



Written by: Paul Thompson on 26th February 2019

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About the Author

Paul is a Chartered Surveyor and member of the National Association of Valuers and Auctioneers (NAVA). He is also one of the few auctioneers in the country with a position on the RICS Real Estate Auction Committee.

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