Auction roundup – now that the stamp duty holiday i…

2 July 2021 | Investment

[ad_1]

Richard Adamson, partner and auctioneer at Allsop, explains: “Our June auction saw a flurry of activity, and we’re pleased to see that buyer demand has remained strong despite the looming end of the stamp duty holiday.”


“The successful rollout of the vaccination programme coupled with the gradual lifting of the Covid restrictions across the country has helped sustain and amplify confidence in the residential property market, and we expect this trend to continue well into H2 2021.”


He adds: “We anticipate another busy auction in August and look forward to bringing more opportunities to the market as the UK returns to normality.”



Highlights of the auction include:


  • Lot 32 – a freehold detached former office building in Haywards Heath, West Sussex, with prior approval for change of use to provide 76 apartments, was the biggest lot of the auction, selling prior for well in excess of the £7 million guide price
  • Lot 40 – a freehold semi-detached period building in Wandsworth Common, London, comprised of two self-contained maisonettes was the largest lot to sell on the day of the auction, achieving £1.5 million
  • Lot 8 – a vacant leasehold site in West Drayton with 10 garages and planning permission for two 2-bedroom semi-detached bungalows was the most popular lot of the day, with over 40 buyers registering to bid on this lot and a total of 283 bids placed on the day. The lot, originally guided at £125,000, sold for £408,000

Allsop’s next residential auction will be held online on August 5 2021.


Strong demand for properties across England, Scotland and Wales, reports SDL


From Scotland, across Wales and down to the south coast of England, SDL Property Auctions has sold properties across the country in its bumper month of live-streamed Auction Events, daily Timed Auctions and Buy It Now sales.


The auctioneer reports strong demand for lots of all types, including family homes, city apartments, plots of land and commercial properties.


Among the family homes which sold in June was a three bedroomed end-terrace in Devon. Located in a popular residential area with stunning views, 22 Dunning Walk in Teignmouth was offered in a Buy It Now sale in partnership with Fulfords for a fixed price of £170,000. 


Managing director and auctioneer Andrew Parker comments: “Buy It Now sales couldn’t be more straightforward and are ideal for sellers who are seeking a fixed price for their property. From a seller’s point of view, everything is clear – what you see is what you pay.”


There was high demand for a studio apartment in Surrey, which was sold in partnership with Bairstow Eves. 25 The Pines in Purley was offered in a Timed Auction with a guide price of £67,000-plus and sold for £93,000 after attracting 44 bids.



Over in Wales, a semi-detached bungalow with a guide of £35,000-plus, 11 Hill Street in Rhosllanerchrugog, Wrexham attracted keen bidding in the National Property Auction and sold for £59,000. Requiring full modernisation, the one bedroomed property sits on a large plot with ample opportunity to extend subject to planning permission. 


A much bigger investment could be found in London, in the form of a fully licensed five-bedroomed house in multiple occupation (HMO) which was sold in the National Property Auction in partnership with Peter James. Producing an annual income of £33,600, 74 Ennis Road had a guide price of £450,000-plus and sold for £480,000.


Parker adds: “These are just a few of the properties we have sold this month and are indicative of the wide variety of lots we sell for private sellers, corporations and our estate agent partners. From Scotland to Wales and across the whole of England, geography is no barrier when selling by auction.”


“Our live-streamed National Property Auctions remain hugely popular and this month we had more than 2,000 registered bidders. However, we offer so much more than our Auction Events, with Timed Auctions and Buy It Now sales running every day of the year on our website, offering choice to our sellers and enabling them to select the auction method which best suits their circumstances.” 


Farmhouse and pub to become homes for sale at Bond Wolfe


Bond Wolfe’s upcoming sale will see a range of properties with the potential to be converted into affordable homes across the Midlands Black Country.


One such lot is a Grade II-listed Midlands farmhouse with eight bedrooms that dates back at least 200 years. The property on Otherton Hall Farm, near Penkridge in South Staffordshire, will have a guide price of just £250,000-plus.



Currently detached and ranging over four floors including the attic, with an additional basement, and in need of refurbishment, the Georgian property has planning permission granted for it to be sub-divided into two homes – a five-bedroom house with a one-bedroomed annex, plus a six-bedroomed house.


Gurpreet Bassi, chief executive of Bond Wolfe, comments: “This eye-catching property has a lot of history and heaps of character, and is well-known in the local area. Depending on what the buyer wanted it for, The Farmhouse could be renovated to make a superb family home.”


“Alternatively, it would be a great project for a developer to create two substantial and characterful dwellings, and we expect a lot of interest and competitive bidding on the day.”



The Farmhouse is located off Otherton Lane, about half a mile southeast of Otherton, and about 1.5 miles southeast of Penkridge. It is well-connected by road to nearby centres such as Wolverhampton, Stafford and Telford, with Junction 12 of the M6 motorway just 3.5 miles away, and train services are available from Penkridge railway station.

Also expecting competitive bidding at the July sale is a Victorian pub on the back street corner plot in Staffordshire.


The Duke of York at 27-28 Victoria Street in Burton-on-Trent, which comes with planning approval to convert into nine apartments, has a guide price of £210,000-plus. There are alternative plans for retention of part of pub building as a micro bar, with the remaining premises becoming eight apartments.


Bond Wolfe director James Mattin says: “The Duke of York was a prominent public house in a stylish building and could either become a popular set of self-contained apartments or a microbar and apartments, with planning for both these options already available.”


“But potential buyers may have other ideas, and the location could be just as suitable for other commercial uses, such as retail shop, a takeaway, a shisha bar, a pharmacy or another business, subject to obtaining any necessary planning consents.”


Auction roundup – now that the stamp duty holiday is over…


The Duke of York lies at the corner junction of Victoria Street and Edward Street, around 0.75 miles to the northwest of Burton town centre. There are various nearby uses including a garage opposite, with a school and churches nearby, but the main immediate vicinity is made up of traditional residential terraced streets.


This and the farmhouse are just two of the 250 lots listed in Bond Wolfe’s next auction which starts at 8.30am on Wednesday July 21.


The auction will be live-streamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only, and bidders must pre-register no later than 12 noon on Tuesday 20 July.


Auction House London sales power through to H2 2021


Auction House London is reporting another ‘top-performing’ sale, raising almost £30 million at its June 16 auction.


Lots attracted large numbers of bidders with many of the 129 properties listed selling considerably above reserve prices. Some 87% of lots sold, with parcels of land creating strong competition between buyers.


In Sunbury on Thames, Middlesex, a rectangular piece of land with planning in place for a two-bedroom detached house was guided at £50,000, before finally selling for almost four times that at £198,000.


Land without planning proved equally attractive to bidders. In Wynches Farm Drive, St Albans, Hertfordshire, a parcel measuring almost 0.2 acres has potential for development. It was guided at £80,000 and sold for more than double that guide at £205,000.


Auction roundup – now that the stamp duty holiday is over…


Auctioneer and director of Auction House London, Andrew Binstock, comments: “More than a year after the first lockdown and the market remains extremely buoyant with no sign of lessening off. This is partly due to the break from stamp duty, but also the fact that land and property outside of London remains in high demand.”


“Inevitably, the current enthusiasm from buyers will lessen off eventually, but at the moment it’s a sellers’ market and a good time to auction property. Online selling will always continue in some form and we’re unlikely to be back in a real auction room before September and even when we are, we’ll be accepting internet bids as well as those from the room.”


Auction House London is now taking entries for its next sale on Wednesday July 28, at 12 noon, which is being streamed live.




[ad_2]

Source link