Our August End of Summer Property Auction brought the summer auction season to a close with another exciting selection of property opportunities and strong interest from motivated buyers.
Taking place online across two days, the auction featured a varied catalogue of residential homes, buy-to-let investments, renovation opportunities, commercial properties and development prospects. With something to appeal to homeowners, landlords, investors and developers alike, the event attracted bidders looking to secure their next property before the summer drew to an end.
For sellers, auction provided a fast and structured route to securing a sale. Competitive bidding created momentum around individual lots, while the auction process gave vendors greater certainty, with contracts exchanged when the hammer fell and completion working to an agreed timescale.
This certainty can be particularly valuable for sellers who want to avoid lengthy negotiations, reduce the risk of a sale falling through and move forward with their plans as quickly as possible.
Our August End of Summer online property auction saw 36 lots sold, achieving a 55% conversion rate and a total sales value of £4.6 million across a diverse collection of properties.
From homes ready for their next owners to investment properties, renovation projects and development opportunities, the results once again demonstrated the strength of demand from buyers prepared to act decisively.
For vendors, this demand helped generate competitive bidding and provided the opportunity to achieve a secure sale within a clearly defined timeframe. For successful bidders, the auction offered the chance to secure properties with potential and move forward with certainty once the hammer fell.
The results round off another busy summer for the Edward Mellor auction team and highlight why auction continues to be an effective option for anyone looking for a fast, transparent and dependable way to buy or sell property.
Whether you are considering selling a property, looking to expand your investment portfolio or searching for your next project, our experienced auction team can guide you through every stage of the process.
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With the autumn season approaching, now could be the perfect time to start planning your next move.
Get in touch with Edward Mellor today to find out how our next property auction could help you achieve your property goals.
The owner of 79 Market Street approached Edward Mellor as he moved closer to retirement and began considering the sale of one of his remaining property assets.
Although there was no immediate pressure to sell, he had recognised that the commercial property market had become increasingly challenging, with a number of properties remaining on the open market for lengthy periods and creating the impression that local buyer demand was limited.
Having seen us successfully sell several nearby properties through auction where others had struggled, the vendor came to us looking for straightforward advice and a strategy designed to achieve the strongest possible result. As the property represented an important asset for his retirement, maximising its value was understandably a key priority.
Having never sold by auction before, the vendor was naturally cautious about the process and concerned that the property might not achieve the figure he was hoping for. However, he placed his trust in our experience and followed our advice on how best to position and market the property.
The strategy generated interest from multiple bidders, with competitive bidding helping to drive the price upwards and ultimately achieve the result the vendor had been hoping for from the outset.
This sale is a strong example of why the highest asking price does not always lead to the highest selling price. Particularly in a challenging commercial market, realistic positioning, proactive buyer engagement and genuine competition between bidders can provide a far more effective route to achieving the best possible result.
The vendor of 33 Ashbrook Avenue came to Edward Mellor after struggling to sell the property on the open market for around eight months.
During that time, a number of prospective buyers had shown interest but failed to progress, leaving the vendor frustrated by delays and uncertainty. With the property standing vacant throughout the marketing period, the ongoing costs of council tax, utilities and general upkeep were continuing to add up.
Rather than remain on the traditional market and potentially face another four or five months of uncertainty, the vendor decided to take a different approach and sell through auction.
The property sold within its first auction cycle, giving the vendor the certainty of an agreed sale and a 28-day completion timeframe.
By securing a buyer through auction, the vendor avoided several more months of holding costs and removed the stress of dealing with buyers who were unwilling or unable to move forward.
This result demonstrates the value of auction for sellers who have experienced a prolonged period on the open market. A clear timetable, committed buyers and greater certainty allowed the vendor to finally move on from the property and focus on what came next.
The seller of Basil Street initially marketed the property through our Reddish branch. However, after a number of viewings without any serious buyers coming forward with a proceedable offer, they decided it was time to explore a different route to sale.
As the property was being sold through probate, the vendor was looking for a process that would provide greater certainty, reduce unnecessary delays and offer peace of mind. After discussing the benefits of auction, including fixed timescales and immediate exchange of contracts, it became clear that this was the secure and straightforward approach they were looking for.
The property was launched with an attractive starting bid of £125,000 and a reserve price of £139,000, helping to generate strong buyer interest. During the marketing period, we conducted 14 viewings and received seven pre-auction offers.
On the day of the auction, competitive bidding pushed the property to a successful sale price of £146,000 – £21,000 above the starting bid and £7,000 above the reserve price.
The buyer exchanged contracts immediately after the virtual hammer fell and paid a 10% deposit, giving the vendor the certainty that the sale was secured.
This result demonstrates how auction can provide an effective alternative when a property has struggled to attract a proceedable buyer on the open market. By combining realistic pricing with strong buyer interest and competitive bidding, the vendor achieved a secure sale above reserve while benefiting from a clear and dependable route to completion.
The owner of West Street came to Edward Mellor looking to sell a former tenanted property that had been left in very poor condition.
Given the amount of work required, the property was likely to appeal more to investors, landlords and buyers looking for a renovation project than to the traditional owner-occupier market. Auction therefore provided an effective way to target the right audience and generate interest from buyers who were prepared to take on the property in its current condition.
The property was marketed ahead of the auction and attracted sufficient interest to secure a pre-auction sale, allowing the vendor to agree a deal without having to wait for auction day.
The buyer was able to proceed on auction terms, giving the seller greater certainty and a clear route towards completion.
This result shows how auction can be particularly effective for properties requiring significant refurbishment. By presenting the property to a targeted pool of motivated buyers, the vendor was able to secure a sale quickly and avoid the uncertainty that can come with trying to sell a challenging property through the traditional market.
If you’re considering buying or selling at auction – or simply want to understand how the process works – our experienced auction team is here to help.
Edward Mellor is a leading national property auction house and the only local organisation to specialise in auction, estate agency, and financial services under one roof.
Our next online property auction will take place on 9th-10th September, and registration to bid is now open.
If you’re thinking of selling, why not arrange a free, no-obligation property appraisal with one of our specialists?
Whatever the property type, our expertise in auction sales means we can help you achieve a competitive price within a fixed 28-day completion timescale. Get in touch today to find out how we can help.
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