Auction Estates 17th October 2024 saw a busy room at Trent Bridge Cricket Ground with 56 properties offered from across the UK with offerings ranging from small parcels of low value land to a substantial former Manor House within the grounds of Nottingham University’s main campus.
The historic Lenton Abbey, a landmark property, was the standout lot of the auction. Bidding was brisk for this sought after estate, which eventually sold for £1.5 million, a price reflective of both its significant heritage value and future potential.
However, one of the auction’s most unexpected highlights was the sale of a small kiosk unit in Blackpool adjacent to the World Famous Blackpool Tower. With a guide price of just £10,000 and measuring just two square metres, it sparked fierce competition among bidders in the packed auction room. When the hammer finally fell, the kiosk had sold for an impressive £79,000, nearly eight times its original guide price.
In total, the auction raised an impressive £5,358,000 and an impressive 82% success rate across the lots offered.
Paul Giles, Head Auctioneer at Auction Estates, was pleased with the outcome, remarking, "This was a very strong result, especially ahead of the October budget. The demand we’re seeing, particularly for both high-value properties and smaller investment opportunities, shows the resilience and confidence in the market despite broader economic uncertainty."
The auction's performance demonstrated continued strength in the UK property market, particularly in regional areas, and offered optimism as buyers and investors prepare for further fiscal announcements.
Entries are now being invited for our 12th December auction which is expected to be one of the busiest sale events of the year.