Network Auctions latest sale on 12th July at Grosvenor House Hotel, London has delivered a market beating performance and allayed fears of a property market downturn. The sale delivered a total of £8 million across properties geographically spread across the county and across all asset classes.
A modern church with car park located in Surrey, guided at £750,000 attracted early interest and saw a frenetic bidding war and eventual hammer price of £2,005,000. The vendors, a charitable trust, had been advised to sell in the room despite receiving a pre-auction bid of £1,050,000, £300,000 over the
The main advantage of buying a property at auction is that you avoid the lengthy process of buying a house in the traditional way. At auction, the process happens in a matter of minutes rather than months and when the hammer falls, you own the property.
The other many benefits of buying property at auction are listed below. If these don't convince you, nothing will!
Low prices
Auctions really do offer the chance to secure property at bargain prices. Thousands of properties are sold at auction in the UK every year - and many are hard to value, meaning they often sell at below market value. You
Auction House, the UK’s biggest property auctioneer, is reporting impressive half-year results for 2018, with the number of lots sold up 3.8% on the same period in 2017.
Between January and June the group sold 1,571 lots from 2,096 offered – a success rate of 75% and raising nearly £200m (£197,657,900) in the process. During the first six months of last year the group sold 1,516 lots from 2,020 offered (also a 75% success rate) and raised £182.8m.
Commenting on the figures, Auction House Founding Director Roger Lake said: “These figures reflect very well in what is undeniably a challenging
A family-run garden centre which is coming to the market for the first time since 1966 is one of the focal points of SDL Auctions North West’s July auction in Manchester.
Garsides Garden Centre is in a prominent location at 2-14 Oldham Road in Failsworth and is being sold due to retirement and is expected to attract interest as a potential development site.
Andy Thompson, senior valuer of SDL Auctions North West, said: “Currently this is a well-established, family owned and run garden centre with adjacent living accommodation and it is on a central location on the main arterial route into
Harrogate and North Yorkshire estate agent and independent professional property partnership FSS' auctioneer, Richard Smailes, offers his insight into the lots on offer ahead of the July 19 event at Pavilions of Harrogate.
What are investors looking for?
Investors want clarity on the potential return on their investment. Often we are auctioning properties that already generate a rental income and we can share our own experience of the rental market as Harrogate’s leading letting agent.
Tell us about some of the properties going under the hammer on July 19
Two former residential care homes are both expected to attract competitive bidding in the next SDL Auctions Bigwood auction at Aston Villa FC in Birmingham on Wednesday 18 July.
One of these is a four-bedroomed detached bungalow at 210 Little Sutton Lane in Sutton Coldfield which until recently was used as a care facility, with a *guide price in excess of £500,000.
The other is a 20 bedroomed property called Brook House at 30 Berners Street in Lozells, Birmingham, set back from the road behind substantial gardens and with plenty of car parking, with a guide price of £400,000+.
A rare opportunity to buy a cute canalside cottage in a beautiful Worcestershire spot is coming up in the next SDL Auctions Bigwood auction in Birmingham on Wednesday 18 July.
The unusual lot is called Halfway Lock Cottage and is based at Lock 40 next to the Worcester and Birmingham Canal on Upper Gambolds Lane in Stoke Prior, near Bromsgrove.
This property, which has tenants and is currently bringing is rent of £3,312 a year, has a *guide price in excess of £135,000 and is expected to be popular in the auction.
Gurpreet Bassi, head of residential auctions at SDL Auctions Bigwood, said: “This
A range of attractive family homes caught the eyes of keen bidders at SDL Auctions Graham Penny’s Nottingham auction earlier this week, raising a total of more than £1.3 million.
The highest price was gained for a detached four bedroomed house currently let at £7,560 per annum at 4 Aspen Court in Tuxford, near Newark, which sold for £154,000 from a guide price of £140,000+.
Meanwhile, a semi-detached three bedroomed house with a small rear extension at 18 Marton Road in Newark also sold well, with the hammer coming down at £151,000 from a guide price of £115,000+.
With guide prices from £50,000 to £2.5m, the auction will feature properties entered lots from Wesleyan Assurance, Mapeley, The Co-operative Bank, Aviva Investors, M&Co, Canal & River Trust, Waitrose and Orbit.
Among the prime freehold retail investments being offered is 23 Bridge Street in Stratford-upon-Avon. Let to The White Company and producing £147,500pa, the lot is being offered with a guide price of £2.3m-£2.4m.
Office lots in the sale include Piran House in Redruth. The freehold government-occupied building is let to Mapeley Steps Properties until 2031 with no breaks. It produces
Leading North West Auctioneer, Edward Mellor provide their top 9 tips to help you get the mortgage you want:
If you’re thinking about how to get a mortgage, you should be aware of the factors that affect your eligibility. These include: credit score, length of time in current job, current debts, whether you’re self-employed and the size of your deposit. Our top tips for 2018 will allow you to put yourself in the best position to make the most of securing your mortgage this year.
1. Your Credit Score matters
Before applying for a mortgage, get a copy of your credit report which is held by
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