Blogs

Timewarp home sells through Auction House London at well above guide price

A four bedroom home in Edgware which has been owned by the same family for more than 70 years sold through Auction House London (19 July 2017) for an unexpected £1.12m.

What does guide price actually mean?

Leading Sussex auctioneers, Parsons Son & Basley have put together a useful piece about Auction Guide Prices. If you're new to auctions, or simply just curious about the ins and outs, then the below might be of interest:

P S & B Auctioneer, Simon Caplin, explains the correct meaning of the term.

AUCTIONEERS' SUMMER BREAK THIS MONTH!

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.

Wishing you all a lovely Sunday!

Top prices gained as busy Derby auction nets £5 million

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%.

Recent commercial property auctions highlighted growing presence of large value lots

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.

SDL Auctions North West’s first Manchester auction hailed a great success

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.

High-yielding, mixed-use properties star at Leicester auction

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.

Highlights of Barnett Ross July Property Auction

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%.

Allsop commercial auction calms market nerves with strong July sale

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.

SUMMER BREAK FOR BUSY AUCTION HOUSES

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.

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