Written by: Andy Thompson on 19th October 2023
Our October auction took place this week where we helped our clients and joint agents achieve some fantastic results.
Having over 150 registered bidders, resulting in almost 500 total bids across the two days, there were many stand-out sales, with Lot 7 being the pick of the bunch. This exciting residential conversion opportunity in Halifax comprised a detached, four storey former care home and offices and was offered at a guide of £340,000. Following a bidding frenzy, it sold for almost double it’s guide at £656,000.
There was equally lively bidding for Lot 17, a residential renovation project in Swinton. The property was offered with vacant possession and proved popular with both owner-occupiers and investor-landlords. After being offered at a guide price of £100,000, and subject to an exciting bidding war of 50 bids, it went on to sell for £149,000.
Land also proved popular in the auction, with one plot in Dewsbury selling particularly well. Extending to approximately 0.25 acres, the grassland site guided at £35,000 represents an opportunity for development (STP) and after receiving 59 bids, it eventually sold for £131,000.
There were strong results for our growing number of partner agents too, who we offered a total of 13 properties for. One notable result was our first sale on behalf of Melissa Berry Sales & Lettings in Manchester who is a new agent-partner of ours. The property on Bury New Road, Salford had been on the market for six months and had two previous sales fall through. We took it on just three weeks ago and to the delight of Melissa and the relief of the vendor, we sold it prior to the auction for a great price.
On the back of our early success, we’ve got a number of new instructions from Melissa Berry for November - including a great refurbishment project in Manchester.
Amongst the other early entries for November are a number of investment properties in Bolton, at Brownlow Road and Barlow Street. Both properties have long-term tenants in situ and provide great investment opportunities with scope to now increase the rent. Both would be well suited to a local landlord looking at expanding their portfolio.
We have also recently listed the The Top Rank Cinema, in Liverpool, which will feature in next month’s auction. The property comprises a five storey former bingo hall/cinema and due to its prominent location offers great potential for development (STP).
Looking ahead, we traditionally find that Q4 delivers excellent results, partly due the fact that the auction method of sale is really the strongest way to deliver a ‘move in by Christmas’ offering to sellers. As well as an increase in referrals from estate agents keen to help their vendors, we are also seeing an upturn in solicitor cases looking for a transparent and timely sale of vacant probate stock before the winter months kick in. As always, we continue to act on behalf of many retained and valued corporate clients up and down the country.
While we already have an exciting selection of lots on offer for our November auction, there is still time to include your property alongside these. The earlier you instruct us, the sooner we can start marketing for your property and generating interest to ensure you get the best possible price.
If you’d like advice about selling by auction, we'd be delighted to help. Simply click here to arrange a free auction appraisal or call us on 0345 505 1200.
Written by: Andy Thompson on 19th October 2023
