We had an absolute scorcher of a sale at our summer auction on Wednesday!
It might have been hot outside, but we really felt the heat when the competitive bidding began at our July auction.
Featuring over 80 fantastic residential and commercial properties from across the North West, we anticipated a good turnout for our summer sale.
Our line-up attracted buyers, developers and spectators from across the region, with some guests arriving as early as 10 am!
Not only did our July auction lots attract the attention of the public, but it also piqued the interest of some special people at the BBC.
It’s nearly show time folks! 🤩🏠🔨
The homes under the hammer crew are all set up, registration for buyers is well under way and there’s less than 15 minutes to go until our July #auction.
— Edward Mellor (@edwardmellor) July 24, 2019
We were over the moon to welcome back the camera crew from BBC1’s ‘Homes under the Hammer’ for the THIRD time this year!
They caught all of the action live on camera for their new series of the show, which we can assure you, will be an interesting watch.
Keep your eyes peeled for another Edward Mellor ‘Homes under the Hammer’ episode where Auctioneer, Nick Green, will be taking centre stage on your screens.
Did you miss our July 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.
If you want a quick round-up of our July auction, we’ll give you the short version.
Heated bidding, scorching sale prices, bargain buys and giant fans (yes, it was that hot).
Got a little more time to read the long version? We’ve highlighted a handful of star lots that stole the limelight at yesterday’s sale.
Before we take a look at the best bits from yesterday’s auction, we asked our auction sales manager, Aaron Wade, what he thought of Wednesday’s property sale.
“I’d like to thank everyone who came to see us yesterday, another fantastic turnout with lots of people buying!”
“It was great to see so many new faces buying with us and one lady even managed to buy a garage for £1! That’s a great buy!”
“Clearly, confidence in the North West property scene is running high at the moment and we still have properties available; so get in touch!”
“Our next auction day is Tuesday the 17th of September, so get it in your diaries!”
Let’s start with lot number 4, a freehold parcel of land in Macclesfield. Guided at £5,000, this land was to be sold on behalf of the council.
We received a really high level of interest on this lot which attracted over 80 different parties! As soon as we offered this lot to the auction room, bidding paddles shot up left, right and centre.
After a very intense back and forth between a few interested parties, the hammer finally fell on a whopping sale price of £83,000!
Next up is lot 7, a two-bedroom semi-detached property in Northern Moor. Our clients initially bought this property with dreams of doing up it up, which they did make a start on.
Soon after they’d started work the property they inherited a family member’s home which needed modernising.
They then decided it would be better to turn their attention to doing up their recently inherited property, which they would eventually move into.
Unfortunately, they couldn’t start work on the inherited home until they released the equity from Greenham Road – so they wanted to sell fast.
The house has a lot of notable features, so we knew would be attractive to potential auction buyers – especially because of the location.
We had fourteen potential buyers view the property on Greenham Road before our July auction.
The bidding started at the guide price of £120,000 and the gavel finally fell on £133,000!
Our vendors not only achieved £13,000 over the guide price but will be able to start the next chapter of their life once they receive the money from the sale in just 28 days.
The next lot we’d like to talk about is number 21, a garage for sale in Runcorn.
Now, this little story highlights just how lucky you can get when buying a property at auction.
We offered this lot with no reserve which meant the property could have gone for as little as 20p!
We had a few bids but when the hammer finally fell one lucky buyer bagged this garage for a £1. That’s right – one. whole. English. pound.
You wouldn’t get a bargain that good anywhere, even at Poundland!
It just goes to show, auction works for both buyer and sellers if you play your cards right.
Lot 31, a four-bedroom buy-to-let investment in Romiley, is the next lot we’d like to take a look at.
The property had been in our client’s family for some years producing a really good rental yield of 13%.
However, they felt the time had now come to release their equity, so decided to sell up.
This tenanted investment is not only producing healthy rental yields but it’s also located in the centre of Romiley Village; so we knew this hot property was going to turn a few heads.
Viewings were limited due to the nature of a couple of the tenants, however, that didn’t affect the high level of interest we received on this property.
We set the guide price at £125,000 and after some heated bidding, the gavel finally fell on a sale price of £157,000 – an unbelievable £32,000 over the guide!
Say hello to ‘The Crooked Retreat’ – the 33rd lot to go under the gavel at our July auction.
This 10-bedroom hotel located just minutes from Blackpool Pier has bags of potential but was in need of renovating throughout.
We had a lot of interest from investors on this lot, with numerous viewings taking place on the property before the auction.
Due to personal circumstances, our vendor wanted to sell up and was hoping to get £45,000 for the property.
After some tense bidding from a few interested parties, the hammer fell on a sale price of £61,000!
It’s safe to say we had one very happy vendor!
Last but certainly not least, we’d like to talk about lot 59. This former tyre/warehouse in Blackley was on the open market for months with no success.
The vendors grew tired of waiting for a sale on the open market and decided to give auction a go.
We marketed the property with a guide price of £95,000 and it sold for £100,000 on the day!