Award winning property auctioneer Auction House has sold more than 3,000 lots this year (3,076) – exceeding the benchmark figure one month earlier than in 2017.
The cumulative total for the year represents a success rate of 74.3%, with the value of lots sold in 2018 currently standing at more than £382m.
October also saw the highest number of lots ever offered in a single month (681), selling 486 of them – a record for October and the group’s fourth record month in succession - with a success rate of 71.4% and over £56.6m raised in the process.
One of the largest residential investment properties to come on the market in Leicestershire is set to be sold under the hammer in SDL Auctions Graham Penny’s Leicester auction on Thursday 29 November at the King Power Stadium.
St Georges Courtyard in Hinckley is being offered with a *guide price of £1.5 million for 14 apartments that have been fully refurbished in a major overhaul of the building.
Carl Finch, senior auction valuer at SDL Auctions Graham Penny, said: “St Georges Courtyard is an L-shaped building originally built in the 1960s that had grown tired and outdated.
Network Auctions’ latest London ballroom sale on 25th October shows “there’s opportunity for value,” says Toby Limbrick, Director, despite the tough market.
“There’s an absence of owner occupiers in the room, with the majority of the buyers being seasoned investors.”
“Compared to the open market which appears to be at standstill, the auction room provides sellers with an opportunity to trade quickly and efficiently, at premium prices through competitive bidding”.
Network Auctions’ sale raised a total of £5.2 million, a figure they hope to exceed given they have “several deals pending.”
Leading Lancashire auction house, Edward Mellor, has put together a risk list for potential landlords, something that should be read if your considering taking the leap!
Becoming a landlord is a great investment but you must consider the potential costs associated with renting. Although you’ll have rent coming in – that will on the whole cover the costs of your mortgage – you must have a contingency budget to combat other potential one-off costs should things go wrong. These one of costs could be anything from repairs to furnishing the property. This article goes through some typical costs
Symonds & Sampson’s collective auctions see £3.6 million of properties sold under the hammer across Dorset, Somerset & Wiltshire during the month of October.
Auctioneer Mark Lewis was especially pleased with the work of his colleagues across the firm “We had 12 offices involved in the lots so we needed a lot of feedback and liaison from everyone but we are very lucky to have so many experienced, focused and dedicated staff and partners who were able to ensure as many people as possible were primed and ready to compete for the lots.
“It was interesting to see so many London buyers contesting
TV crews from BBC1’s Homes Under The Hammer, and Channel 4, witnessed a packed saleroom for Auction House London at the end of October (25 October 2018) which raised just under £20m.
Auction House London had its largest ever catalogue of 138 lots with 66% of those resulting in a sale. A number of properties attracted fierce bidding, selling considerably above their guide price, but equally some properties struggled to gain a high amount of interest. But one home which did pull in the buyers was a lower ground floor flat in Primrose Hill, northwest London. The apartment in Gloucester Avenue
A semi-detached house in Harrogate was the subject of some lively bidding at auction this month, pushing the final sale price well above the original guide of £150,000.
The three bedroom house on Oakdale Avenue was the first lot to come under the hammer at the October property auction by FSS estate agents and auctioneers and the bidding was broadcast live on social media. The hammer finally came down at £173,000.
Another high-performer at the October auction was a four bedroom house on Kirkby Road in Ripon which had a guide price of £190,000 and sold for £233,250.
The volume of sales completed this year by commercial property auction house, Acuitus, approached the £200m mark as its latest auction raised £46.25m with a success rate of 77%.
A busy and vibrant room witnessed bidding for all property investment sectors across the UK, and the trend for looking at alternatives to pure retail saw a Travis Perkins trade counter in Melton Mowbray sell for £1.4m at a yield of 4.38%. With nine years unexpired on the lease and no break options, the investment currently produces rental income of £65,000pax.
Acuitus auctioneer, Richard Auterac, commented: “Investors
Leading land agents Aston Mead have thrown their full support behind the winning idea in this year’s £50,000 Richard Koch Breakthrough Prize from the Institute of Economic Affairs (IEA).
The prize, supported by entrepreneur Richard Koch, sought to find the best and boldest entry outlining a ‘free market breakthrough’ policy to solve the UK housing crisis. It was judged by a panel including Jacob Rees-Mogg MP, Richard Koch and Mark Littlewood, Director General at the IEA.
The winning entry proposes the ‘Land Purchase Act’ – a market-based policy that centres on how swathes of public land can be
A former doctor’s surgery which was offered as a seven bedroomed property was one of the star lots at SDL Auctions Graham Penny’s Nottingham auction which raised over £2.4 million.
Andrew Parker, managing director and auctioneer at SDL Auctions Graham Penny, said: “There was strong demand for buy-to-let properties and investors were out in force.”
30 Regent Street in Nottingham has six bedrooms in the main property and a further one bedroomed self contained apartment. It had a guide price of £390,000+ and sold for £452,000.
Other properties that sold well included 69 Morley Street in Sutton
