3rd August 2020
SDL Auctions helps buyers save £74k and sellers pocket £20.7m in one month
Following its seventh lockdown auction, SDL Auctions has retained its position as the UK’s most successful live-streamed auctioneer and helped its buyers save more than £74,000 in stamp duty tax.
In July alone the company has raised £20.7 million in sales and sold 170 properties for its vendors up and down the country through its daily single-lot online auctions and its monthly national property auction.
Andrew Parker, auctioneer and managing director at SDL Auctions, commented: “Yesterday’s live-streamed national property auction was a fitting finale to another highly successful month for our sellers taking us to more than £75m raised in lockdown so far.
“Buyer interest remained high with hundreds of buyers registered to place their bid and thousands more watching our live video feed on our website. What’s also particularly pleasing is to see that we’ve helped save our buyers £74,930 in tax for our buyers thanks to the Chancellor’s stamp duty holiday.”
The latest national property auction was once again held at SDL Auctions’ head office auction studio, with auctioneers Andrew Parker and Rory Daly sharing the rostrum along with a socially-distanced team handling telephone bids.
Sales were achieved from across the whole of the UK including properties as far north as Cumbernauld in Scotland and as far south as Plymouth with lots more in between spanning England and Wales.
The auction got off to a great start with lot 1 setting the tone for the day. 43 New Street in Blaby, Leicester, a three bedroomed semi-detached house, requires extensive renovation throughout and has scope for extension to make a wonderful family home. Being offered in partnership with Nest Estate Agents, the property sold for £177,500 from a guide price of £135,000+.
Several other lots across the East Midlands saw some competitive bidding including a traditional two bedroomed semi-detached house sold on behalf of Derby City Council. At £123,000, the buyer of 5 Kendon Avenue in Sunnyhill, Derby secured an excellent investment opportunity for this property which is in need of modernisation and with potential for extension. It had a guide price of £75,000+.
In Nottinghamshire, the three bedroomed semi-detached house at 40 Garden Avenue in Shirebrook sold for more than double its guide price of £36,000+. Dozens of bidders saw the potential in this vacant property which requires a comprehensive scheme of improvement and which sold for £74,500.
Buyers looking for a place by the sea were attracted to 7 Stanley Place in Plymouth which sold for £90,000 from a guide price of £65,000+. Making a great family home or buy-to-let investment, this two bedroomed terraced house is estimated to achieve £650 per calendar month once renovated.
In the West Midlands, the sales continued to pour in with a large three bedroomed terraced property at 65 Birchwood Crescent in Birmingham seeing some spirited bidding and selling for £239,000 from a guide price of £180,000+.
“The property has been in the same family for over 40 years and following some minor refurbishment work it would make a wonderful ideal family home,” Andrew commented. “The buyer has made a great investment purchase with this lot, something we saw several more times during the auction.”
Another property requiring refurbishment sold well in Erdington. Flat 19, Yenton Court, 742 Chester Road is a two bedroomed second floor flat ideally suited for an investment purchase. Selling for £69,000, this property had a guide price of £45,000+.
Further north the lots continued to be popular with 110 Haslingden Road in Blackburn, Lancashire a particular hit with 37 bidders competing for the purchase. This traditional two bedroomed terraced house is in need of refurbishment and was sold with vacant possession. It had a guide price of £27,000+ and, after a lengthy round of bidding, sold for £59,000.
Commercial properties were also popular sellers with a pair of lots in Dudley selling above seller expectations.
A vacant former office at 3 Birmingham Street in Dudley which is suitable for a number of alternative uses, sold for £260,000 from a guide price of £135,000+, while the warehouse to the north west side of St Joseph Street, which has a tenant paying £625 per calendar month, had a guide price of £150,000+ and sold for £225,000.
There were several unique auction lots which attracted interest, too. With a guide price of just £1+, 39-41 Caroline Street in Blackpool gained significant interest prior to the auction with the vacant two-storey former storage unit seeing the gavel fall on a sale for £12,000. Another popular lot was the former public toilets in Brierfield, Lancashire. Being offered at the bidders’ convenience and with no chain, this commercial property with scope for conversion sold for £18,000.
Andrew added: “We’re continuing to experience high volumes of interest from both buyers and sellers and I’m proud not only to continue operating our business during lockdown, but to grow the number of sales month on month and help address our customers’ needs throughout this uncertain time.
“Our lives are slowly starting to return to normality and restrictions continue to ease, however many of us are still unsure about what the future holds and so to provide a certainty of sale and secure that much-needed financial injection is a real lifeline for many.”
SDL Auctions continues to conduct monthly live-streamed national property auctions with remote telephone, internet and proxy bidding on the last Thursday of every month alongside running daily single-lot online auctions, providing total flexibility for sellers.
If you are interested in selling your property in the next national property auction on Thursday 27th August, or in an online auction starting any day of the week, call the team for a free auction valuation on 0800 046 5454 or click here to fill in the simple online form.