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Published on : February 13, 2020 16:04

February property auction review | Lights, cameras and loads of action!

We had a fantastic February auction filled with unique properties, camera crews and great results!

Featuring over 100 cracking residential and commercial properties from across the North, we anticipated a buzz amongst bidders at our first sale of 2020.

Our line-up of lots attracted buyers and developers from across the region – including a few special guests from the BBC.

The camera crew from BBC1’s ‘Homes Under the Hammer’ caught all the action of our February property auction for their new series of the show.

Keep your eyes peeled for an Edward Mellor ‘Homes Under the Hammer’ episode where our Auctioneer, Nick Green, will be taking centre stage on your screens.

February 2020 Auction Results

Did you miss our February auction? There’s no need to wait for the new season of the property programme to catch up with all the action.

You can click here to view the full list of results from Wednesday’s property auction.

We still have a few fantastic properties for sale post-auction, so make sure you take a look. You could bag yourself a bargain!

Star Lots

Let’s take a second to look at a few residential and commercial properties that stole the limelight at our first sale of the new year.

Lot 101, Bridge Lane

Let’s start with our final lot of the day – Lot 101, a 4 bedroom detached property situated in Bramhall.

This property truly is a testament to the hard work and dedication our experienced auction team put into achieving the best possible price for your property.

Initially, our clients approached an alternative estate agent’s to market and sell their home. They had managed to achieve a sale for £520,000 but the home flooded and the sale fell through.

Due to the flood-risk, this meant the property was very unlikely to be mortgageable and it was in a terrible state when we met the owners.

Our clients were at a loss. Not only had their home been damaged, but they were also on the verge of being repossessed. We knew helping them to understand what they needed to do was of paramount importance. This is where their story with Edward Mellor Auction starts.

After a series of conversations with our clients, we decided to market the property with a low guide price of £150,000 in order to ensure a sale.

Soon after we’d made the property available we had a really high level of interest from buyers. We had 58 viewings in a two week period. As interest was sky-high we advised our clients to sell their property in the room.

We ended our February auction with this property and after some very competitive bidding, the hammer finally fell on a sale price of £405,000. That’s a staggering £255,000 above guide!

Not only were our team able to sell our clients’ home, but they were also able to provide some financial security that, ultimately, may have been taken away from them.

It’s safe to say our vendors were over the moon with the service they’d received from the team.

Lot 16, Land at Seymour Road, Cheadle Hulme

The next property we’d like to talk about is lot number 16, a parcel of land with planning passed for a four-bedroom detached house in Cheadle Hulme.

We valued the land at £185,000 and advised our client to set a guide price of £175,000.

Prior to the auction, the owner had received an offer of £185,000 and was willing to accept. However, we knew we could achieve more and encouraged our client to take this lot to the room.

And we’re sure they’re happy they did!

The gavel fell on this lot at a price of £237,000, a massive £52,000 above guide which the owner may have missed out on!

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 room decide.

Lot 81, Holmlea Road, Droylsden

Last but certainly not least, we’d like to talk about Lot 81, a 3 bedroom semi-detached house situated in Droylsden.

After the client’s mother had passed away the property had stood empty for quite some time and had deteriorated substantially.

When we spoke to our client about selling the property, we advised a guide price of £70,000.

This has been our most popular property to date receiving 164 viewings in just 4 weeks!

The bidding started at £70,000 and when the hammer finally fell, the property sold for £121,500!

For us, these happy endings are what makes our job all the more worthwhile. It’s not about the fees, it’s about helping people without compromising on their needs.

What our Head of Auction, Aaron Wade, has to say…

“Yesterday was our most successful February auction for over a decade!  The room was packed full of buyers with some fantastic results for our vendors! 

9 Bridge Lane, for instance, achieved £255,000 over the guide!  A real example of how the magic of auction can produce something very different from the open market!”

If you’d like to find out more about selling your property at auction please contact our team on 0161 443 4740 or email [email protected].

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