People buy at auction for lots of reasons. They may want to move quickly or they could be looking for a plot of land to build on, a repossession, or quite simply they want a quick purchase without the risk of gazumping. Also, many buyers looking for investments buy at auction as a catalogue full of properties gives them lots of opportunities to choose from.
Buying a property at auction is both exciting and potentially profitable. It avoids all of the lengthy purchasing procedures that you usually have to endure and the risk of everything falling through at the 11th hour. At an auction, as soon
The 43,468 sq ft United House in York which has permitted development rights for residential conversion sold for £6.02m.
Of the five lots which sold for more than £2m, four were office properties and the sector accounted for more than half of the money invested at the sale.
Acuitus auctioneer, Richard Auterac, commented: “There is now serious interest in the regional office sector and it is the subject of concerted buying. “This is being fuelled partly by the scope for residential development, but experienced investors are also seeing that they can buy income-producing properties at good entry
Just a quick note to remind you that although many of the property auctioneers catch their breath in August, there are a few auctions taking place, and all those catalogues will be on-line as soon as they're released.
The September catalogues will start to be released from mid August onwards - if you're a member, you can check out the UK Auction List auction calendar which has been updated with all the latest future auction dates.
And in the meantime, check out all the unsold lots from the auctions to see if there's still a bargain to be had!
Auction House, the UK’s largest auctioneer, has announced record first half results for 2015, as the number of lot entries for the group hits an all time high.
Between January and June the award-wining auctioneer sold 1,415 lots through its national network of 40 auction rooms – a figure which is 14% up on the same period last year – representing a success rate of 76% and raising £179m in the process. Meanwhile, a record 726 auction lots are catalogued to be offered in July - a 10% increase on the group’s previous highest monthly total.
Graham Penny Auctions, the most successful property auction house in Derbyshire, is set to top £20 million in sales for the year so far as more than 65 lots go under the hammer this month.
The auction, on Tuesday 21st July at the iPro Stadium, is the auction house’s fourth of the year and features a catalogue of 68 residential property, commercial property and land lots from across Derbyshire and the rest of the UK.
Andrew Parker, director at Graham Penny Auctions, commented: “This month we have another packed catalogue of properties which have been attracting huge interest from buyers within
A private auction run by Auction House London this week (Monday 13 July 2015) raised more than £3m ahead of the brand’s main auction next week.
The four mixed commercial, retail and residential properties on Queensbridge Road, Hackney are part of an established parade of shops in the East London borough. The sale was held at a pub opposite Auction House London’s premises in NW8. Hammer prices raised ranged from £224,000 to £1,582,500, totalling £3,091,500.
Managing Director and Auctioneer, Andrew Binstock said, “It just goes to prove that the auction model works equally well in a more
Symonds & Sampson have enjoyed success with two property auctions held over the last couple of weeks.
On the 24th June, Yarde Farm at Churchill, between Axminster and Chard was offered for sale. The property had been in the Perring family for over 100 years and, since Miss Perring passed away, had been empty for about 8 years.
The farmhouse was listed Grade II and required full renovation, there was also an attached barn, farm buildings and just over 12 acres of land. With nearly 50 viewings taking place, there was a busy auction room. The guide price of £450,000 to £500,000 was easily
The mews property in Sefton village is in need of some updating, but does benefit from central heating, garage and an open aspect to the rear. The guide price is £220,000 to £240,000.
Cathy Holt, joint head of auctions at Sutton Kersh says: ‘This is a unique property in a popular location close to Maghull town centre, with easy access to the M57 and M58 motorway connection, and the main A59 into Liverpool city centre. I expect there to be plenty of interest.’
Meanwhile a vacant there bedroom semi-detached house on Bowring Park Road in Liverpool which could suit occupation, investment or resale
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