July tends to be the ‘odd month out’ in the property auction calendar. The schools break up for summer and the holiday season kicks into full swing, which usually leads to a smaller auction.
With this in mind, we expected to see a few empty seats, but the auction room at the AJ Bell stadium was bursting with all types of people. We had a busy room full of buyers, sellers and spectators from across the region and beyond.
There was a real buzz in the auction room yesterday making it a really fun place to be! We offered a quality selection of commercial and residential properties under the hammer, which achieved some brilliant sales results.
We actually exchanged nearly 50% more properties than recent auctioneers, leading to a total value close to £3.6 million – not bad for a day’s work! This figure is continuing to rise as we carry out post-auction deals on a variety of amazing properties that didn’t quite hit their reserve price on the day.
If you’d like to view some of the properties still available to buy, click here.
Our next auction will be held on Monday the 17th of September, so if you have a property you’re looking to sell please get in touch.
If you can’t wait that long, you’ll find our next announcement very exciting! We are close to launching our online property auction which will be a massive benefit to sellers across the North West. That’s all the information we’ll give you for now, but it’s almost ready to roll so keep your eyes peeled.
We had a great auction for both residential and commercial sales yesterday. Two notable residential sales from our July auction are both based in the highly popular M14 area.
The first was a huge 13-bedroom house on Monton Street in Rusholme. This property has huge potential as a HMO and was a fantastic opportunity for buy-to-let investors. After some close bidding yesterday Monton Street hit a sale price of £300,000.
The second property that caught the attention a few bidders was Acomb Street, Rusholme. This property was another perfect choice for buy-to-let investors as it has 6-bedrooms and is close to the city centre. Acomb Street had a guide price of £170,000 and sold £20,000 over the guide price for £190,000!
Before these properties made their way into our auction, they had both been on the market with local agents for several months at less than the price we achieved.
The vendors decided to ditch the traditional route of selling and gave our auction team a call. We had the right approach to marketing their properties and found multiple buyers who were interested in these lots. We were in contact with a corporate client who wanted to streamline their portfolio and actually ended up buying both!
In regards to commercial property, we’re offering more commercial stock and we’re achieving better prices for them than ever before.
We’ve seen a growth in the market of investors looking for commercial property and land as a ‘safe haven’ for their investment. This demand has led to record selling prices and a huge increase of vendors looking to sell through auction.
One commercial success story that stands out from yesterday’s sale is a property we sold on Fitzwarren Street, Salford. This commercial development had a guide price of £350,000 which we managed to exceed by £25,000.
The final property that had a particularly happy ending was a plot of land with garages in Stockport that we sold yesterday. The family selling the property had unfortunately encountered deception and stress and just wanted rid of the lot.
We took on the property and marketed it as four separate lots in our July auction. The owners were over the moon with the final price we managed to achieve for them. Although the sale of the property had nothing to do with money, they were absolutely stunned by the final outcome.
To give you an idea of what we achieved for all four lots, we’ll focus on the plot of land that was for sale to the rear of Meadow Street. We valued the this plot of land at around £15,000 but decided to offer the lot with no reserve due to complications. After some pretty intense bidding, the hammer finally fell on a sale price of £38,000!