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.
Rock-bottom starting prices of ‘nil’ have been given to a bumper range of almost 40 homes across northern England at Bond Wolfe Auctions next auction later this month.
The bargain basement reserve prices are on properties appearing at the Birmingham auction from Burnley, Cleveland, County Durham, Cumbria, Doncaster, Grimsby, Hartlepool, Liverpool, Peterlee, Rotherham, Salford and Sunderland.
The zero tags have been tied to the lots because they are boarded up, in need of serious renovation, or only available for external viewings.
In Cumbria, the ‘nil’ properties include a pair of
When it comes to properties for sale at auction, you can bet you’ll find something different to what you normally see in an estate agents’ window. Churches and factory sites, water towers and fields are par for the course in a typical auction catalogue. But Network Auctions’ forthcoming February sale includes a lot which is strange even for the auction room – pavements. Pavements adjacent to a parade of commercial properties in Sidcup, Kent with a guide price of £1000+.
The lot being sold under the hammer at The Westbury Mayfair Hotel on 20th February, is described in the auction catalogue as
Competitive bidding is expected for a two-bedroomed house in Nottinghamshire with a guide price* of just £4,000 to £9,000 in Bond Wolfe Auctions’ next auction in Birmingham.
The vacant end-terraced property at 8 Derby Street in Mansfield stands flush to the pavement with an open plan living room and kitchen area downstairs, the bedrooms upstairs and a rear yard outside.
Gurpreet Bassi, chief executive at Bond Wolfe Auctions, said: “This property needs of refurbishment but once that’s tackled it could make someone a lovely home.
“It’s in a nice little location leading onto Fisher Lane Park and
Auction House – already the largest property auctioneer in the UK – is opening a brand new branch in Kent, with its inaugural auction scheduled for 27th of February.
Auction House Kent Managing Director Andrew Stallard said: “We’re delighted to be bringing the Auction House success story to the garden of England. Kent has long been on the group’s list of targets, and we will be serving the patch from our offices in the county town of Maidstone. We’re looking forward to providing the area with the type of innovative, dynamic and proactive auction service that it so richly deserves.”
