Auc­tion‘club’début

The Jewish Chronicle - - Life/travel -

THE IN­AU­GU­RAL sale of newly-launched a u c t i o n e e r Net - work Auc­tions, held at Hat­field House, Hert­ford­shire i n S e p t e mber, s a w sales of £2.5 mil­lion from the 28 l ots of­fered.The packed auc­tion room — at­tended by more than 250 peo­ple — saw lively and com­pet­i­tive bid­ding for the prop­er­ties.

“The auc­tion re­sults com­pletely sur­passed our ex­pec­ta­tions,” says Toby Lim­brick, di­rec­tor of Net­work Auc­tions. “Our ven­dor clients were ex­tremely happy and our es­tate agent mem­bers who had en­tered prop­erty in the sale on their clients’ be­half were also de­lighted with the re­sult.”

The sale started with the 150-year-old re­dun­dant Gospel Hall in Wor­thing, Sus­sex, which went for £150,000, per­haps to be­come a den­tal lab­o­ra­tory. Sev­eral life-re­ver­sion homes were also sold as longer-term in­vest­ments (the ex­ist­ing ten­ant en­joys rent-free ac­com­mo­da­tion un­til they va­cate the prop­erty; it then re­verts to the pur­chaser’s own­er­ship).

Other lots in­cluded parcels of land, re­dun­dant pubs and a light in­dus­trial unit, plus prop­er­ties with and without plan­ning con­sent.

Lot lo­ca­tions in­cluded Brighton; Yeovil; Lin­colnshire; Rick­mansworth; St Al­bans; Bletch­ley, Lon­don and Lu­ton.

The most com­pet­i­tive bid­ding was saved for the last lot of the day — a three-bed­room semi-de­tached house in need of mod­erni­sa­tion, in Green­ford, Mid­dle­sex. This went for £234,000 — some 38 per cent over guide price.

Net­work Auc­tions is a na­tional “club” of es­tate agents and other prop­erty spe­cial­ists. They use Net­work Auc­tions as their part­ner auc­tion­eer for prop­er­ties more suited to the sale room than the pri­vate treaty mar­ket.

“We are gain­ing new mem­bers all the time,” says Mr Lim­brick, “and by the end of the year we an­tic­i­pate hav­ing a net­work ap­proach­ing 25 lo­cal prop­erty spe­cial­ists, which will con­tinue to grow in 2010.”

Net­work Auc­tions’ next sale is sched­uled to take place at Hat­field House on De­cem­ber 16.

More than 250 peo­ple crammed into Net­work Auc­tions’ in­au­gu­ral sale

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