Just a reminder that the majority of auction houses in the UK are have a well earned rest this month.
There are a few auctions taking place, and these catalogues are uploaded by individual lot, in our database; however the majority of new catalogues for September, will start to be released from 21st August onwards.
There are still unsold lots from the July auctions displayed in our database. To find out whether they are still available, and to ask about the reserve price, you'll need to contact the auctioneers directly.
Impressive prices were gained for a wide range of properties and land after a busy day of bidding at SDL Auctions Graham Penny’s latest Derby auction.
More than £5 million was raised from selling 46 of the 61 lots offered making a great success rate of 76%.
One of the best results was for a three-bedroomed detached house at 86a Schofield Street, in Mexborough, South Yorkshire which sold for £56,000 – well over twice its guide price* of £25,000.
There was also keen interest shown in four other lots which all sold for prices well over 50% of their guide price.
The latest cPad sector analysis reports that at auctions in May, although the average price achieved by lots fell slightly in comparison to the previous round of auctions, there was a marked increase in the number and proportion of assets which achieved more than £2m. The number of high value assets in the auction room started to rise in autumn 2016, and in the May auctions a total of 15 lots sold for more than £2m. The trend was repeated at the July auctions.
Acuitus Chairman, Richard Auterac, comments: “Banks and institutional investors are opting for auction room sales to maximise value in
SDL Auctions North West’s first ever auction in Manchester has been hailed as a great success with lots sold on behalf of owner-occupiers, investors and receivers.
The first auction at the AJ Bell Stadium attracted 25 lots and raised £1,105,751 on the day with the total expected to rise with deals struck after the auction.
SDL Auctions chief executive Rory Daly said: “This was a most encouraging start and such is the interest already in our October auction, we are confident of doubling the number of lots on offer.
“As we are becoming more and more established, the momentum is really starting
A large shop and residential development with estimated rent of up to £45,000 is one of the star properties appearing at SDL Auctions Graham Penny’s auction in Leicester next week.
The mixed-use freehold property at 34 and 34a St Peters Road in the Highfields area is already bringing in £19,800 a year on a 20-year-lease from a 2,000 sq ft ground floor shop.
Additional estimated rent of £25,000 a year could come from a large, six-bedroomed flat on the first floor which could be converted into three studio and three one-bedroomed flats, subject to planning permission.
Barnett Ross' 19th July auction achieved a Success Rate of 89% with the total raised a massive £16,630,000
Highest price achieved was £2,360,000 for Lot 30: 357-359 Walworth Road, Elephant & Castle, London SE17 2AL – A Freehold Double Shop with 5 Flats above producing £127,640 per annum, generating a yield of 5.4%.
Another notable lot was Lot 36: The Boathouse, Embankment, Putney, London SW15 1LB sold for £1,820,000 – A Victorian Boathouse fronting the River Thames comprising a Marine Showroom and Architects Office producing £86,500 per annum (4.75% yield).
Allsop’s busiest commercial auction room this year has raised a total of £83.5m, driven by investor demand for larger lots and well-let retail assets. 84% of the lots sold.
In the first auction since the UK General Election, investors turned out in high numbers, bidding also on the phone and internet to compete for prize lots. Despite, or possibly because of uncertainty in other financial markets, investors remained positive. The highest value lots were among the strongest performers with 23 lots selling for £1m and above.
St Peters House, a 22,089 sq. ft. office building in St Albans city
AFTER an incredibly busy July, there is a slight breather whilst the majority of the auctioneers take a well deserved break.
The team at UKAL, of course, never rest (!) and have taken this opportunity to update the UK Auction List auction calendar with all the latest dates for future auctions - right through to October! We’ll continue to add more as and when confirmed by the auction houses, so keep checking back.
We will also be updating our database on a daily basis with all the unsold lots from the auctions, so check out properties in your area to see if there's still a bargain to be had.
Auction finance is a great way for property developers to secure a below-market-value property, often from a motivated seller. It could even be suitable for first-time developers too, if you've got the right expectations from the beginning.
Putting up your hand and bidding on a property worth hundreds of thousands of pounds is a daunting prospect, even for experienced auction-goers. If you make the winning bid, you'll usually have to pay a non-refundable deposit on the day, and you'll have 28 days to pay the balance.
That means that the timeframe for auctions is much shorter than the
