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25th April Auction raises £6,049,500

25th April Auction raises £6,049,500

30 April 2024

Auction Estates, a leading name in property auctions, has once again made waves in the industry with its recent in person auction held on April 25th. Despite uncertainties in the market, the auction raised an impressive £6,049,500, marking it as the third-highest amount raised in the company's history. This success adds to the momentum of Auction Estates, which has now raised a total of £13,320,500 over two auctions in the first quarter of 2024.

The auction kicked off with a flurry of bids from both in-room attendees and remote participants. Lot 1, featuring a former Scouts Hall in Annesley, exceeded expectations by selling for £150,000, well above its guide price of £65,000. However, the true highlights of the event were properties like Daisy Hill Farm and the former Veterinary Hospital on Dunkirk Road.

Daisy Hill Farm, situated in the picturesque location of Market Rasen, garnered significant attention with its 5-bedroom detached house on 2 acres of land and multiple outbuildings. Bidding for this property was intense, resulting in a final sale price of £405,000, far surpassing its guide price of £250,000.

Similarly, the former Veterinary Hospital on Dunkirk Road near the QMC in Nottingham attracted interest from high-net-worth multinational companies, all eager to secure this rare opportunity. Guided at £650,000, the property fetched an impressive £820,000, highlighting its appeal and potential for investment.

Paul Giles, Head Auctioneer at Auction Estates, expressed his satisfaction with the auction's success despite market uncertainties. "We are incredibly proud of the exceptional results achieved at our recent auction. Our team's dedication and expertise have once again delivered outstanding results. Moving forward, we remain committed to providing exceptional service to our clients, regardless of market conditions."

With this success under their belt, Auction Estates is now gearing up for their next auction scheduled for June 20th. Sellers and buyers alike are encouraged to contact the office for more information on how to participate in this upcoming event.

In a market characterized by uncertainty, Auction Estates continues to prove its resilience and ability to deliver remarkable results, solidifying its position as a leader in the property auction industry.