We had a fantastic April auction, filled with unique properties, competitive bidding and great results!
Our third auction of the year saw an amazing 21 lots sell, raising over £1.2 million.
With how challenging the property market is at the moment, we couldn’t be happier with the results and even more so for our vendors!
Our Head of Auctions, Aaron Wade, commented on the success of the online property auction:
“What an exciting day we had yesterday! Despite not being in our usual setting, our first online auction saw a lot of buyer activity with over 340 people registered and looking! And it resulted in a resounding success! Our auction proves that there’s a really strong interest still in buying and selling property and we can’t wait for our June auction already. I hope you’ll be part of it!”
We still have a few fantastic properties for sale post-auction, so make sure you take a look. You could bag yourself a bargain!
Let’s take a second to look at a few residential and commercial properties that stole the show at our spring sale.
One of the highlights early on in our online auction was the sale of the above three-bedroom semi-detached property in Stalybridge.
The perfect property renovation project, this lot had been stripped back to its shell and altered so that the bathroom was now on the first floor to allow for an open plan kitchen/diner on the ground floor. After speaking to the owners, our experienced valuers guided this property at £70,000.
It generated quite a bit of interest prior to auction day due to its virtual tour which really helped our customers view this property from the comfort of their own home.
We make the process of buying houses as stress-free and accessible as possible and Staveley Avenue is a great example of how these tours massively helped our vendor achieve a staggering £32,000 above guide price!
The next property we’d like to talk about is Lot 9, a two-bedroom tenanted property in Gorton.
We found there was great interest in our properties that already had a tenant in place. With non-essential moves advised against, this was a great way for an investor to start earning immediately.
And Stelling Street couldn’t have been a more perfect property to pick! Providing an 8% rental yield and located in an area which has seen some fantastic capital appreciation over the last five years, our bidders agreed that it was a fantastic investment.
The virtual gavel finally fell on a sales price of £78,000 – an amazing £6,000 above guide!
As not all investments come in the shape of a house, our next star lot is Lot 33, a freehold parcel of land sold with outline planning for two detached dwellings in Godley.
This plot of land offered a superb development opportunity in a popular, picturesque residential location.
With a huge amount of potential and outlined planning for two detached houses, this lot started with a guide of £70,000.
Prior to the auction, the owner had received an offer of £80,000 and was willing to accept. However, we knew we could achieve more and encouraged our client to take this lot to auction.
And we’re sure they’re happy they did!
The gavel fell on this lot at a price of £102,000, a massive £32,000 above guide which the owner may have missed out on if they hadn’t been able to trust in our expert advice!
With years of knowledge and experience under our belt, we are the experts when it comes to accepting a pre-auction offer and when to let the auction work its magic.
— EdwardMellorAuction (@MellorAuction) June 22, 2017
The success of our online auction just goes to show that despite these unpredictable times, life goes on and the process of buying and selling property is still something that can be achieved.