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Exciting atmosphere at first Nottingham property auction of the year

It was a bungalow in Bilborough which attracted some of the most exciting bidding at the first Nottingham auction of the year for SDL Auctions Graham Penny.

In front of a packed room at Nottingham Racecourse, the Midlands’ most successful auctioneer sold 150 Glaisdale Drive East in Bilborough for £123,000 from a *guide price of £45,000+, making it one of the most popular lots of the day.

And there was a round of applause for the winning bidder, who has the challenge of refurbishing the two bedroomed detached property, which stands back from the road with parking at the front and a private enclosed garden at the rear.

Auctioneer and managing director Andrew Parker said: “We’d anticipated that this property would do well and are delighted to get such an excellent result for the seller. This is a property with a huge amount of potential and, once renovated, will be perfect for both the sales and rental market or, indeed, make a great home for the new owner.”

The auction had already got off to an excellent start with the first lot of the day – a three bedroomed terrace within a stone’s throw of Nottingham city centre – selling for £87,000 from a guide price of £55,000+.

Situated on a quiet residential road, 6 Osborne Street in Radford is a three-storey property with two reception rooms and a kitchen on the ground floor, two bedrooms and the bathroom on the first floor and a further bedroom on the second floor. It was previously let for £500 per calendar month

Another outstanding result followed with the second lot, 75 Mansfield Street in Sherwood, another three-storey house. The four bedroomed property comprises, on the ground floor, a lounge, kitchen/diner and access to the cellar, with two bedrooms and a bathroom on the first floor, and two further bedrooms on the second floor.

Illustrating the diversity provided by auction lots was a semi-detached property converted to five self-contained flats, which are fully let, giving the new owner an income straight away.

Flats 1-5, 429 Woodborough Road in Nottingham are all double glazed and centrally heated, with one bedroom, a fitted kitchen, shower room and storage. Together they realise a combined annual income of £28,500. The property, which is in a popular area of Mapperley, sold for £306,000 from a guide price of £275,000+.

And a building plot in Mansfield proved popular, too, selling for £44,500 from a guide price of £28,000+. The land between 48 and 54 Bolsover Street in Mansfield, close to Mansfield town centre, within easy reach of shops, schools and a play area, has planning permission for two semi-detached dwellings.

Andrew added: “It’s not all about houses at our auctions and we always say there is no typical auction property. Auction is a great place to pick up your next property project, or add to a rental portfolio, as these two lots illustrate.”

Ending the auction on a high note was 21 Warwick Avenue in Beeston, an attractive 1930s property requiring full refurbishment, which sold for £216,000 from a guide price of £156,000+.

Conveniently located for Beeston town centre, the detached house has an entrance hall, kitchen and two reception rooms on the ground floor, with three bedrooms, a bathroom and separate WC on the first floor. Outside it has driveway parking, a carport and free-standing garage, plus a large garden at the rear.

Andrew said: “This was a fabulous way to end our first Nottingham auction of the year. There was a great atmosphere in the auction room and lots of eager bidding. It’s always satisfying to get such good results for our sellers as it just confirms to us that auction is a fantastic way to buy and sell property.”

If you have a property to sell, now is the time to contact the auctions team for a no obligation free auction valuation, as entries are currently being processed for SDL Auctions Graham Penny’s next Nottingham auction on Friday 24th April at Nottingham Racecourse. To find out more, please contact the auctions team on 0115 958 8702 or click here.