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Published on : November 9, 2020 12:26

Over £2.8m Raised At Our First November Online Property Auction

With nearly 300 people tuned in to watch, our first online property auction of the month has been a resounding success for us here at Edward Mellor!

Commencing at 12pm last Wednesday and lasting three and a half hours, some 57 quality residential and commercial properties went under the virtual hammer. There were more than 280 people registered to bid via internet and proxy which resulted in a sale of 24 lots, raising a fantastic £2,833,000!

The few remaining properties from the auction are actively being negotiated so if something has caught your eye, please get in touch. You can view the full November results here.

Our Head of Auctions, Aaron Wade, commented on the success of the online property auction:

“Despite entering a second national lockdown, the reaction to our first online property auction of the month has been fantastic. Although, there are challenging times for many we’re really keen to carry on as normal, as long as it’s safe to do so.

There is clearly still an appetite for purchasing properties at auction with demand currently outweighing supply. If you’re on the fence about selling or buying at auction, it honestly has never been a better time so get in touch with the team on 0161 443 4740 while confidence is still high.

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

Let’s take a second look at a few residential and commercial properties that stole the show at our first sale of the month.

Lot 1 – Ashley Lane, Moston

Ashley Lane, Moston sold for £100,500.

A 2-bed terrace house in need of renovation throughout was offered to the market guided at £40,000 and proved to be incredibly popular.

Prior to auction day, the property received a total of 63 viewings so we knew the bids were going to come in hot and heavy.

With 123 bids placed from seven different bidders, the virtual gavel fell at a staggering sale price of £100,500 which was more than twice the guide!

Lot 64 – Grove Street, Ashton-under-Lyne

Grove Street, Ashton-under-Lyne sold for £327,000.

This freehold parcel of land extending to circa 0.9A (0.364H) was to be sold with planning permission already granted for the development of five detached dwellings.

The owners wanted a clear and swift sale and knew Edward Mellor Auction could help them achieve this. After speaking with our clients we guided the land at £270,000.

With 40 bids placed from four dedicated bidders, the gavel finally fell on a sale price of £327,000 – a fantastic 16% above minimum value!

Lot 31 – Moston Lane East, Manchester

Moston Lane East, Manchester sold for £154,500.

This 3-bed end-terrace property presented an excellent investment opportunity for any budding buy-to-let investors.

Situated on the border of South Chadderton in what has proved to be a consistently popular and sought after area, the property attracted enormous interest with 30 viewings carried out prior to auction day.

Being sold vacant on completion but previously let at £825pcm, the property guided at £108,000. Bidding began at the reserve and quickly concluded at £154,500 after 42 bids from eight competitive bidders.

Lot 62 – Old Farm Crescent, Droylsden

Old Farm Crescent, Droylsden sold for £100,000.

Who wouldn’t love a recently renovated 3-bed semi-detached property situated in Droylsden?

Coming to the market with tenants in place, this home is ideally located for first-time buyers as well as buy-to-let investors.

The property guided at an attractive price of £100,000 which helped generate quite a lot of interest. After some competitive bidding which saw 23 bids from two very motivated purchasers, the hammer eventually fell on a sale price of £120,000.

This is what our vendor had to say – “Absolutely delighted with the sale price, thanks very much for all the hard work.”

The success of our online auction just goes to show that despite these unpredictable times, life goes on and the process of buying and selling property is still something that can be achieved.

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

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