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News Item - 14th October auction sees a packed room, record prices and £5.15m raised - Auction Estates

  • 14th October auction sees a packed room, record prices and £5.15m raised news item

    14th October auction sees a packed room, record prices and £5.15m raised

    Not only was the room back to full capacity but bidding was also frantic for a number of lots with some record prices achieved, only seen in more buoyant pre-pandemic markets with the sale raising an impressive £5,150,000.

    Among the properties sold were a number of telecommunications towers, strategic land and commercial properties offered on behalf of Nottingham City Council which alone raised £1,870,000 towards the total sales of the day as part of a wider transformation programme to balance its books. Of these the most valuable fetched £222,500, well above the guide price of £135,000 set before the bidding began. One of the most popular Council lots was a 3.76 acre parcel of land adjacent to Clifton flyover in Nottingham which sold for £94,000.   Another last minute entry from the Council was 60 Sneinton Hollows Guided at £125k to £150k which sold after a round of  frantic bidding for £211,000.

    Records were broken with the sale of a two bedroom apartment on the sixth floor of the Victoria Shopping Centre, with only 45 years remaining on the lease which sold in competitive bidding for £127,000 off a Guide Price of £45,000.

    Properties from across the UK were sold in the 44 Lot Catalogue on behalf of LPA Receivers, Local Authorities and Private Individuals which proved to be a great success.  Entries are now being taken for our next sale on 9th December to be held at Nottingham Racecourse.

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