Buyers and sellers benefit from the security of SDL Property Auctions
With recent news warning of urgent action being needed to combat 50,000 property transaction fall-throughs so far this year, it’s no surprise that buyers and sellers alike turned to SDL Property Auctions in March, as properties of all shapes, sizes and types went under the hammer.
After a month of Timed Auction sales, the month came to an exciting climax with the National Property Auction and a catalogue of over 200 lots being offered in the live-streamed event, with great results being achieved across the UK.
The auction began with the sale of 71 Leopold Avenue in Birmingham (pictured), a three bedroom semi-detached property in need of refurbishment and modernisation. With a guide price of £119,000+ plus fees there was a flurry of bidders interested in the investment opportunity, and the property eventually sold for £290,000.
Managing Director and Auctioneer of SDL Property Auctions, Andrew Parker said: “It’s always exciting to begin an auction with such a popular property – this lot had just short of 100 registered bidders on its own, a number that we are easily able to facilitate through our live-streamed auctions. This property has great development potential and it’ll be fantastic to see what the new owners do with it.”
In Derby, there was also an excellent result achieved for 89 Worcester Crescent, a semi-detached property straight out of the 1960s. In need of full refurbishment, this achieved a final sales price of £140,000 after being offered at a guide price of £80,000+ plus fees. Still retaining a number of 1960s design elements, this three bedroomed house could easily become a lovely family home.
Remaining in Derbyshire, this time in Alvaston, there was another fantastic result achieved, this time in partnership with Hannells Estate Agents. 23 Bracknell Drive sold for £131,500 and had been offered at guide price of £95,000+ plus fees. Originally a three bedroomed property, the semi-detached bungalow sits on a generous plot with ample space, making it a great development opportunity for the lucky buyer to make into a fantastic home.
There were great commercial results too – the Former Canning Circus Police Station in Nottingham sold prior to the auction for an undisclosed amount, presenting the new owner with the exciting opportunity to develop a scheme of eight luxury residential units, with full planning permission already in place.
Elsewhere, further north in Sunderland, there was the sale of 271 Ryhope Road, a single storey takeaway premises. Currently let and producing £9,600 per annum, this is high-yielding investment for the new owner who snapped up the property for £91,000 off of a guide price of £45,000+ plus fees.
The month saw some excellent Timed Auction results too. A plot of land at Northrepps Cromer High Station was sold on behalf of Norfolk County Council and saw highly competitive online bidding, with over 100 bids being placed over the course of 4 days – 88 of which were on final day of the auction. The plot itself, which extends to 2.39 acres has potential for development (subject to planning consents) and reached a final sales figure of £182,500 off the original guide price of £40,000 plus fees.
There was also exciting bidding activity to be found with the sale of Hazeldine in Stoke-on-Trent, achieved in partnership with James Du Pavey in Stone. With a guide price of £275,000+ plus fees, this wonderful detached period home unfortunately suffered fire damage, and after 63 bids were placed on the closing day of the auction, sold for £321,000.
Andrew added: “It’s fantastic to see the variety of results we’ve been able to achieve this month for buyers and sellers across the UK. We’re proud to be able to offer property sales by auction that continue to benefit from a less than 1% fall-through rate, offering safety and security to our customers when they need it most.”
April’s National Property Auction takes place on Thursday 28th April, being closely followed by the live-streamed Knight Frank Auction on Thursday 12th May.