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Leicester property auction brings busy week of remote bidding to a close

Socially distanced but still selling property, SDL Auctions Graham Penny brought a busy week to a close with its Leicester auction.

As over 450 viewers watched via the company website, managing director and auctioneer Andrew Parker conducted the auction from a rostrum set up in the company’s head office with minimal staff present, all keeping well apart from each other.

It was the third auction to be held this way this week and Andrew was delighted with its success: “It has been both encouraging and humbling to know that so many people are supporting our auctions and buying properties from the safety of their homes.”

Buyers placed bids via the internet, by phone and by proxy and, watching online, very little looked different.

Andrew added: “The only changes for us really were the venue and the number of people in the room. Broadcasting auctions via a live video stream is something we have done for many years and we always take multiple bids on the internet, via telephone and by proxy, so we know this system works well.”

Several lots had sold prior to the Leicester auction but those sold under the hammer included 68 King Street in Loughborough, which attracted enthusiastic bidding and sold to a telephone bidder for £95,000 from a *guide price of £65,000+.

The traditional two bedroomed terraced property requires refurbishment but has modern uPVC double glazed windows and has already had a wiring upgrade. Once renovated, it could realise a rental income of £600 per calendar month.

Andrew said: “This is an excellent investment and will make a great rental property once any work has been completed. It’s on the edge of the town centre but close to a superb range of amenities, including shops, bars, restaurants and parks.”

Further afield, two studio flats in the popular seaside town of Skegness both sold under the hammer.

Both flats are in the same building at 36 Scarborough Avenue, with gas central heating and uPVC double glazing. There is a communal hallway and rear yard and each flat has an open-plan lounge/kitchen/bedroom plus a shower room.

Just a two-minute walk from the beach, Skegness pier and tourist attractions, the properties would make ideal holiday homes, but are close enough to shops and supermarkets to give them private rental market appeal, too, with an estimated monthly rent of around £325.

First to be sold was Flat 5, which sold for £15,000 from a guide price of £10,000+, followed by Flat 6, which sold for £12,000, also from a guide price of £10,000+.

Andrew said: “These flats are excellent purchases, with lots of potential, with the new owners having the options to use them as seaside retreats, holiday homes or let to private tenants.”

The Leicester auction was the culmination of a busy week and Andrew reflected on the new way of operating while adhering to social distancing rules: “We missed the buzz of a crowded auction room but it was fantastic to see that people’s thirst for property has not waned in the light of the current situation.

“I’m grateful to our entire team for pulling together in the circumstances and know they are continuing to provide a great service to our buyers, sellers and partners while working remotely. We have proved that it is possible to keep the property industry moving – and that buyers are showing just as much interest in our properties as before.”

The team at SDL Auctions Graham Penny are continuing to work remotely and are now on the lookout for properties to sell in the next Leicester auction on Tuesday 9th June. To find out more about selling by auction, or to request a free no-obligation virtual auction valuation of your property, call 0116 254 9654 or click here.