Biggest ever event for Auction House North West as sales £6m

Auction House North West has celebrated its first anniversary with its biggest ever record-breaking October auction, grossing more than £6m, at a sale success rate of 75%.

The event at the Macron Stadium – home to Bolton Wanderers FC – attracted 131 lots, offering more properties and selling at a higher percentage and with greater sales than any other in the region.

The auction experts, operating out of the heart of Manchester city centre and Preston, offer unrivalled coverage across the North West and beyond with specialists in selling both commercial and residential property.

From a broad range of clients with varying property needs, Auction House North West delivers seven property auctions a year, taking entries for its record breaking events in a two-week turnaround.

The opportunities presented by sellers on the day ranged from five prominent Manchester city centre apartments, all of which were sold on the day.

An apartment in the landmark Beetham Tower sold for £245,000, the first time ever an apartment in city centre development has sold at auction, the oldest nightclub in The Gay Village went for £600,000-plus, and locally well-known period houses sold for £275,000 on the day.

The company said the rise in quality and high value stock obtained within Manchester city centre, was testament to the hard work that has been dedicated to ensuring Auction House North West help their clients with the best options for selling their properties and portfolios.

Auction House North West director of residential property Oliver Adams said:“The entire auction was a record breaking event for Auction House North West.

WOur largest ever auction with 131 Lots raising our largest ever gross sales take in excess of £6m with a sale success rate currently at 73%.

“The Lots ranged from parcels of land with a NIL reserve to a famous landmark pub selling prior to auction for a figure in excess of the quoted Guide of £600,000 plus.

“We sold 100% of the lots for one client who entered 16 residential units and sold 3 Manchester City Centre Apartments prior to auction for another client.”

“Our largest residential sale was a locally famous house in Lancaster – Quarry Mount that saw the hammer fall at £275,000.”

He added: “No matter what you have to sell, you must consider auction as an exit strategy, it’s fast, secure and a great way to secure the best price from the whole market of buyers.”

Commercial property director Stuart Cooper said:“Commercially speaking, the auction was a great success, there were many particularly pleasing results but specifically one client entered a small portfolio of commercial units and every one sold, netting the client more than £157,000 above the combined guide prices.

“Overall we disposed of over £1.8m of commercial property, with more post auction deals to follow which should see us top the £2m mark.

“The shortage of stock on the private treaty market means that more and more buyers are turning to auctions to acquire stock and in turn more and more sellers are willing to offer their properties at auction, not only for speed and convenience but also to achieve great prices, especially as we at AHNW are willing to act on a no sale, no fee (no entry fee) basis, it can also prove to be not only quicker but cheaper than private treaty sale.”

Auction House North West is already receiving entries for its next auction, taking place on Wednesday, December 13 at the Macron Stadium.