News Item - All eyes are on Auction Estates as their 5th sale raises a record £3,730,500 - Auction Estates

  • All eyes are on Auction Estates as their 5th sale raises a record £3,730,500 news item

    All eyes are on Auction Estates as their 5th sale raises a record £3,730,500

    Despite being relative newcomers to the market, Auction Estates in only their 5th sale have raised a record £3,730,500 at their sale on 27th September with a 74% success rate. All eyes are now focused on this small dedicated team of Auction experts as they seek to best this for their next sale on 14th December.

    Highlight of the auction was the sale of Stanley Mills in Huddersfield, a substantial former Mill building which was offered in the room at a Guide Price of £400,000+ and achieved £735,000 following stiff competition in the room.

    Other highlights in the room include a former Training Centre on Wilford Grove in the Meadows guided at £75,000+ and which attracted a significant level of viewings leading up to the auction, where it sold for an impressive £160,000 to a local investor who is looking to undertake a conversion of the property.

    Of the commercial lots a number of former Norwich and Peterborough Building Societies were offered For Sale in Norfolk, Suffolk, and Yorkshire, the majority of which had been sold prior to auction as result of high levels of interest and competitive bidding. 

    Closer to home & in Mansfield, two properties on Toothill Road in Mansfield were sold, one comprising the Chand Restaurant which sold significantly in access of its guide of £95,000+ and the second comprising 6 one bedroom flats guided at £150,00 - £175,000 and which sold in the room, for £221,000. 

    Restaurant investments were proving popular as demonstrated with the sale of a substantial restaurant at Waterside in Evesham which was offered on behalf of LPA Receivers at a guide of £225,000 - £250,000. The property saw strong bidding from investors in the room and remote telephone bidders resulting in a sale price of £304,000.

    Auctioneer and Director of Auction Estates Paul Giles commented “this was a very successful sale both in terms of the overall amount raised but also for the record prices achieved. I am delighted that we have yet again managed to sell a diverse range of property from all over the UK on behalf of private clients, corporate investors, Pension Funds and LPA Receivers. We are very much looking forward now to culminating our first year of trading by beating our latest record at the next auction which is to be held on 14th December at Nottingham Racecourse.

    For further information contact Paul Giles at Auction Estates on 0115 7844 600

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