With nearly 300 people tuned in to watch our February online auction, our second property sale of 2021 was a great success.
Last week, we offered a fantastic selection of residential and commercial properties from all over the UK under the virtual hammer, raising an impressive £3.4M for our clients.
During this auction, we saw some spectacular bidding from our motivated buyers, with one property selling 179% over the reserve price – achieving £70,000 more than our vendors were expecting.
So far, 60% of the lots available at our February auction have now sold, with deals still being done every day. We still have some fantastic properties up for sale post auction, so make sure you take a look at our catalogue – you could bag yourself a bargain!
Our dedicated team has done an amazing job helping our buyers find their perfect auction properties safely – we can’t wait to do it all again next month.
“2021 has started at a record-breaking pace for us at Edward Mellor Auctions, year to date we’ve already secured £8,222,500 in property sales!
After our record-breaking January, we were thrilled to see the demand still so high for February. We achieved £3.4 million in sales and already have 60% sold with many more under offer ‘post auction’.
Eight of the sales we secured came already ‘packaged up’ investment with tenants in place. Our vendors sold a property without any voids in their rent rolls and our buyers didn’t need to wait around to secure a new occupier…smart business!
Confidence is clearly still high in the market, so if you’re considering buying or selling at auction, speak to one of the team on 0161 443 4740.”
Did you miss our February auction? You can click here to view the full list of results from last week.
Let’s take a second to look at a few residential and commercial properties that stole the show at our second property sale of 2021.
This property belonged to a longstanding client of Edward Mellor who has started to downsize his portfolio, most of which were purchased from our auction “back in the day”.
Given the price we had achieved for them previously on similar lots, we anticipated a sale price of £78,000. Despite the tenants not wanting any potential buyers physically viewing the house, due to Covid, they did allow us access to take a safe 360 virtual viewing of the property. This was watched over 900 times!
Although no physical viewings took place, we had a lot of keen interest in this property generated from our marketing and virtual viewings.
This property sold under the virtual hammer for £85,000, some £7,000 above the reserve. This just goes to show how effective virtual viewings actual are!
Here’s what our client had to say:
“Many thanks! Much better than originally anticipated – here’s to the next one!”
The next lot we’d like to talk about is number 19, a mixed-use property in Heaton Chapel. This property was made up of a vacant ground-floor restaurant that had to close its doors due to the pandemic and a tenanted two-story flat above.
The owner wanted to sell the property because he was losing income, so reached out to the Edward Mellor auction team to help sell the property.
Despite being able to only gain limited access to the upper floors as a vulnerable tenant occupied the apartment, we were able to work around this, and received multiple offers on the property prior to our online auction.
Lot 19 went under the virtual gavel last week with a guide price of £150,000 and sold at a fantastic sale price of £186,500 – which was £21,500 more than our client was expecting!
The last lot we’d like to talk about is number 27, a 3-bedroom property in Denton. The house had belonged to our clients since it was built and had been their family home. After they moved abroad, they rented it out for some years and decided that when these tenants moved out, they would sell it.
However, they had no idea how to sell it – which is where we come in. After chatting about how we could help them achieve a sale, we set the reserve price at £140,000 hoping to achieve in excess of £150,000.
We offer both covid-safe viewings on top of interactive virtual viewings, with the virtual tour receiving over 150 views. After just a few weeks of marketing, the property sold for a very healthy £160,000 – £10,000 more than our clients had expected!
Our clients had no experience of auctions but continued to put their trust in us after researching our longstanding reputation. Guiding our clients through the auction process, whether it be their first time using us or their tenth, is something we take great pride in. We’re so pleased we were able to help another client achieve more than they’d hoped for so that they can happily move onto their next chapter.
Here’s what they had to say about us:
“The staff at Edward Mellor have been very professional and extremely helpful in getting us through the Auction process. We cannot thank Louise Mcdonald enough for her guidance and advice in achieving our result. We would like to thank her personally for her professionalism and guidance in helping us through the auction process, without her help we would have struggled. So once again Louise, many thanks.”
The success of our online auction just goes to show that despite these unpredictable times, you don’t need to put your life plans on hold. Our dedicated team is still here to help you achieve your property goals safely, whether that be buying or selling.
If you’d like to find out more about selling your property at auction or would like help registering for our next auction in March, please contact our team on 0161 443 4740 or email [email protected].