The UK’s largest property auctioneer Auction House has promised that all of its scheduled sales will take place this year – even if a restriction on gatherings during the Coronavirus outbreak means that lots get transferred into an Online Sale.
The announcement coincides with the release of the group’s latest results, which show that 453 lots were sold in February (compared to 457 in February 2019), at an impressive success rate of 80.2%, raising nearly £56m (£55,872,374). Since the beginning of 2020 a total of 506 lots have been sold, at a success rate of 79.2%, raising £61.8m – which is 8.7
In a plea no auctioneer would ever usually dream of saying, Guy Charrison, in an unprecedented move, was compelled to make the request as bidders pushed and shouted to try and get into the saleroom at The Westbury Mayfair Hotel to bid.
Network Auctions’ first ballroom sale of the year on 20th February opened with the company’s biggest ever catalogue – and biggest ever turnout – proving there’s more substance to the ‘Boris Bounce’ than just newspaper headlines.
But it wasn’t just room bids auctioneer Charrison had to contend with, as multiple bids came flying in from online, on the phone and
Bond Wolfe Auctions’ February sale set records all across the board.
The £20 million raised means that Bond Wolfe Auctions has raised over £101 million in sales since the business was launched in January 2019 after just seven auctions!
At Aston Villa FC on Thursday 27 February, the latest auction saw 200 lots sold out of the 212 offered on the day, for an astonishing 95% sales success rate.
Gurpreet Bassi, chief executive, said: “It was an extraordinary day. We have broken our own Midlands record for amount raised, number of properties offered and number of properties sold.
A mixed-use property near Altrincham was among the properties sold at SDL Auctions North West’s first auction of the year.
In front of a busy auction room at the AJ Bell Stadium in Manchester, auctioneer Rory Daly sold the former retail premises in Timperley village for £238,000 from a guide price of £210,000+.
Owned by the same family for around 40 years and now requiring a full scheme of renovation, 60 Arderne Road in Timperley comprises a former shop, which has been unused for some time, and two separate flats. With the relevant planning permission it has the potential for the whole
It was a packed auction room for the first sale of 2020 for Auction House London at its recent sale, (12 February 2020) where bids on a number of lots just kept on rising above all expectations, and 89% of all lots were sold.
A highlight of this sale was a severely fire damaged three bedroom semi in Tooting, which started with a guide of £375,000 and sold for £647,000.
Director and Auctioneer at Auction House London, Andrew Binstock described the sale of this lot as a runaway success. The property in south west London had the advantage of being close to the Tooting Bec underground station and
The former home of Derby’s Padley Centre charity shop was among the commercial properties sold in front of a packed auction room at Pride Park Stadium.
It was the first Derby auction of the year for SDL Auctions Graham Penny and got the new season off to a spectacular start, raising £3m for sellers and selling 86% of the properties offered.
Auctioneer Andrew Parker said:“It was fabulous to be back at Pride Park in front of such a huge crowd of bidders, all eager to get back into property buying after the Christmas break.”
There was strong investor demand for retail property as Acuitus raised £20.48m with an 82% success rate at its first auction of 2020.
Two properties let to Barclays Bank in Hendon, North-West London and Skipton, North Yorkshire sold for £705,000 and £1.75m respectively which reflected yields of 4.4% and 7.5%. A 1,063 sq ft shop in Pangbourne let to WH Smith until 2024 sold for £410,000 at a yield of 4.8% while the leasehold interest of 6 St George’s Street, Canterbury – let to jewellers, Warren James until 2024 – sold for £715,000 at a yield of 6.6%.
Auction House, the biggest property auctioneer in the UK, is reporting a strong start to the New Year, with 51 sales from 63 properties offered, resulting in an impressive 81% success rate for its sales in January.
Commenting on the figures, Auction House Founding Director Roger Lake said: “The auctions year has started with a burst of entries, increased buyer interest and some strong individual auction results. January was impressive, and February looks like it will be equally busy, with a total of 760 lots entered into our first round of sales. Certainly regional auctions are increasing in
A high-yielding retail investment property in Coventry city centre will be one of the star lots in Bond Wolfe Auction’s next auction in Birmingham for nearly £1 million later this month.
The three-storey unit at 82/92 Lower Precinct extends to around 20,565 sq ft and is currently let to the British Heart Foundation for what will eventually become £160,000 per annum.
The charity is six months into a 12-year contract, with a rent-free period until this August, then half rent until August 2022 when the full annual rent starts.
The full rent will equate to an impressive yield of 16% if the
Bond Wolfe, the West Midlands-based commercial property agents and auctioneers, has achieved a record £100 million sales in 2019.
Managing partner James Mattin said: “The results reflect the strong regional economy and the growing attraction of the Midlands to national and international buyers.”
Major sales achieved by Bond Wolfe during 2019 included Telecom House in Wolverhampton which was sold for residential use for £4.25 million, The Flying Standard pub in Coventry for £3.225 million, Metro Court in West Bromwich for £2.2 million and Plymouth House in West Bromwich for £1.45 million.
Bond
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