July Auction Round-Up
Written by: Paul Thompson on 23rd July 2019
Our July Room Auctions took place last week where we had a large range of exciting lots on offer. Our July catalogue received a huge 69,000 views online and attracted buyers and developers from across the UK to our auction rooms.
Taking place on July 16th at the AJ Bell Stadium, and on July 18th at Leeds United Football Club, our North West and Yorkshire & North East July auctions helped clients and joint agents achieve sales of over £9million. To view the full results from the auctions, click here.
There were a few properties that didn’t quite meet the reserve which can be found here. These include residential lots, commercial properties and land.
For some of our expert's highlights from the July auctions, please scroll below.
Paul Thompson, Managing Director and Auctioneer
July's auctions delivered some exceptional results, as investors showed continued demand for property investments across all market sectors.
In Leeds we saw 100% sales success rates for clients such as Doncaster Council, Avison Young, Scanlans and Sanderson Weatherall, as well as on a 15 property mixed use portfolio for a national funder.
As auctioneers, we constantly monitor the markets and also engage with investors to ensure we reflect our buying and selling customer's needs to deliver high level outcomes. July is always an interesting auction as the market is completing its business in preparation for the summer holidays and it was very satisfying to sell 94 lots in what was a very busy auction cycle.
We are now looking forward to our September auctions which typically attract strong listings. Early indications suggest that this year is no different, as we are already receiving instructions for what is set to be a very exciting catalogue.
David Hodgkinson, Director
We achieved some strong results across our North West areas with many notable results, including some land in Rufford sold on behalf of Electricity North West which received excellent pre-auction interest. This ensured highly competitive bidding on the day, resulting in an excellent sale price of £90,000.
We also sold a parcel of land in Radcliffe on behalf of Bury Council which was guided at £10,000 and achieved an exceptionally high sale price of £86,000.
Another stand out result was the sale of a town centre located two storey café / patisserie in Sale. Acting for a private client the property achieved a sale price of £180,000 off a guide price of £141,000 which was an excellent result for our client.
Edward Feather, Associate Director and Auctioneer
For me, the stand out result came early on in the form of a vacant care home being sold on behalf of Cheshire East Council at our North West auction. Guided at £350,000, the property received substantial interest prior to auction from a range of private and corporate buyers.
In a marathon bidding competition that lasted several minutes, the hammer finally came down at 1 million pounds (a figure rarely achieved under auction conditions) much to the disbelief of the majority of onlookers but the delight of both vendor and buyer.
48 hours later in our Leeds sale it was the turn of a piece of Bradford development land to steal the show. Having planning approved for a residential scheme and marketed by a local agent previously with a vendor growing tired of lengthy sale processes with no buyer commitment, the property attracted good interest and competitive bidding, finally selling for £400,000.
Given the well populated decline in high street retail sectors it was also interesting to note two sales of vacant North East based properties situsted on prominent high street locations.
Paul Parker, Property Auction Surveyor
The July auctions got off to a good start with numerous lots sold prior across the Manchester and Leeds auctions, including a development site in the centre of Lancaster and a pub investment in Durham.
In the room, there were sales including a vacant residential property in Liverpool, which sold for £46,000, together with a vacant guest house on Bairstow Street in Blackpool which sold for £60,000. There were also a number of investment opportunities, including an office investment in Scunthorpe which achieved £135,000 on the day.
We are now starting to build our September listing which will be launched on our website on Friday 9th August. So, if you have property or land to sell, contact us today on 0345 505 1200 or click here for a FREE auction appraisal and find out how much you could achieve at auction.
For details of all of our upcoming auctions, click here.
Written by: Paul Thompson on 23rd July 2019