The results highlighted the kind of property that is ‘hot’ for buyers at the moment and what people are ultimately looking for.
It was clear that that there is a thirst for redevelopment projects around the North West. It was also proof that selling by auction is the right place for challenging property and land.
Although the auction room was buzzing with buyers at the AJ Bell Stadium last Tuesday, there were still many, many deals made post-auction. We made deals outside of the auction room and made others the morning after – it was an incredibly busy week for the team.
We had a fantastic line-up of 70+ properties that went under the gavel which achieved some incredible prices. If you’d like to see the April property auction results, click here.
aaaand that’s a wrap! 👍 We had a brilliant April auction at the @AJBell_Stadium today. Thank you to everyone who attended and the results of today’s auction will be out tomorrow, so keep your eyes peeled! 👀 #property #auction #busyday #thankyou #Manchester #NorthWest pic.twitter.com/6YEgjVHpxo
— EdwardMellorAuction (@MellorAuction) April 24, 2018
I’d like to share a few success stories from our April auction featuring a variety of fantastic commercial and residential properties that achieved record selling prices.
We’ll start with lot 12, a commercial development occupying a superb location in the heart of the Northern Quarter in Manchetser. This property at Oldham Street and Spear Street not only has a great location but it also has consent for a hotel and apartments, so there’s a lot of potential for a variety of uses.
As you can imagine, this property attracted a very wide buying audience! It was clear that although popular budgets are tight, there is a ceiling level to what people are willing to pay.
This multi-faceted development sold under the hammer for £750,000 after three parties battled it out to be the successful bidder.
I wouldn’t say it was the easiest of sales to get to the room as we did have some initial challenges with this lot. However, with sound advice and a no-nonsense approach from all our team we won the owner a great deal and a buyer committed to the development.
The next lot I’d like to talk about is number 9, a community centre in Newton Le Willows. It was sold on behalf of liquidators with strict limitations on what it could be used for.
Firstly, buyers who were interested in purchasing this property had to be a registered charity. Buyers were also only able to use the building for community purposes which really narrowed down the pool of potential buyers that would be interested in this property.
Trying to find suitable buyers for this lot appeared challenging – but we love a good challenge! We worked with partner agents, we got the property saleable and we introduced it to several different buyers.
We had a fair few buyers competing in the room for this property at our April auction. Bids started at the guide price of £50,000 and finally concluded at an amazing sale price of £67,500!
Lot number 4, is a parcel of land that previously had a property occupying the plot. Unfortunately, the house and the adjacent property were destroyed by an explosion.
The owner has had many difficulties including the lack of insurance, so we were delighted to be able to break the news that their plot of land sold 45% over the estimate! As you can imagine, this has lifted their spirits no end.
Lot 45a is a property on Yorkshire Street in Rochdale which is located on the fringe of the Town Centre. It was a late addition to our April auction, but we still had plenty of time to understand our client’s needs, offer sound advice and market the property well.
The property had a guide of £50,000 and it sold for a whopping £85,000! We managed to sell this property £35,000 over the guide price which will help the owner to comfortably move into a different phase of their life. At Edward Mellor auction we care about our client’s goals and objectives – it’s not just about selling!
Although I mainly deal with commercial properties at Edward Mellor auction, we have a variety of superb residential properties going under the gavel at each auction.
I’ve recently read a few articles regarding the ever popular M20 postcode in Didsbury.
It’s a fantastic place to purchase a property, whether you’re buying a home to live-in or to let out. It has an array of shops, bars and transport links to the city centre – it’s really got it all. So when we instructed a handsome period property on Lansdowne Road in West Didsbury I knew it was going to attract a lot of attention.
Lot 30 had been on the market for a while with another local estate agent. The agent had one offer put forward on the property which fell through leaving the property unsold.
The trust that was acting decided to appoint a local and trusted auctioneer to deal with the sale of the property which is where we stepped in! This property actually sold pre-auction for a the same price as the open market sale, not subject to survey, not conditional and completion set for four weeks.
The next auction cycle has already commenced with several great opportunities listed. Contact me or any of the team if you are considering selling your property. We offer expert, no-nonsense advice to help you get the best price for your property.