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Success at biggest Nottingham sale

5 July 2013 – Graham Penny Auctions’ biggest Nottingham sale to date didn’t disappoint its hundreds of attendees this week (Thursday 4 July) with more than £3m in sales and a 82% success rate secured on lots offered.

The Midlands’ number one property auctioneer* offered 55 property and land lots at the auction with 45 selling in the room or prior to the auction and several others already receiving post-auction offers.

Graham Penny, auctioneer and director at Graham Penny Auctions, commented: “It was great to see such a busy auction room again this week. It’s hard to believe that a year or two ago people were feeling very apprehensive about buying property and securing bids in the room was sometimes a tough job.

“Now we’re fortunate to have hundreds registering in the room as well as dozens of people submitting proxy and telephone bids with several of our properties this week exceeding their guide prices. The guide prices are related to the reserve prices and what the property ultimately sells for is down to market competition.”

Highlights of the auction were:

  • Lot 4 – 9 Olga Road, St Anns; a three bedroomed semi-detached property requiring a scheme of modernisation and improvements had a guide price of £55,000+ and sold for £89,000.
  • Lot 7 – 137 Bracebridge Drive, Bilborough; a four bedroomed end town house requiring a scheme of modernisation and improvements had a guide price of £58,000+ and sold for £70,500.
  • Lot 16 – 164 Porchester Road; a mixed use property currently achieving a rental income of £12,900pa sold for its guide price of £125,000.
  • Lot 19 – 76 Sisley Avenue, Stapleford; a two bedroomed semi-detached bungalow with scope for improvement had a guide price of £80,000+ and sold for £89,000.
  • Lot 25a – 30 Derbyshire lane, Hucknall; a four bedroomed Victorian detached property had a guide price of £58,000+ and sold for £80,000.

Graham added: “This was our biggest Nottingham auction to date and we’re very much hoping this is the shape of things to come in the second half of 2013.”

Entries are already open for the Nottingham auction on Thursday 12th September.

To enter a residential or investment property, development site, building plot or land click here.

 

 

*based on essential information group statistics. Based on lots offered, lots sold, revenue raised for 2012.