Confidence high in the online saleroom
Our first online auction of the new year (February 9) saw the continuation of the huge levels of interest in bricks and mortar we have all come to expect, but we strive to give good levels of service and straightforward guidance to our sellers, who entrust their properties and land to us. We have seen our auction market grow, with many lots exceeding expectations and prospective buyers embracing online bidding with confidence. Indeed, in the last auction we achieved a sale rate of over 80 per cent, raising in excess of £18 million from 104 lots catalogued.
The lots ranged from £1,800 for a freehold ground rent lot currently let at £36.26 per annum from four flats, to £1.213 million for a commercial investment comprising part of a Cyclopark let on a 50-year lease from 2010 at £30,600 per annum (representing a 2.52 per cent return). Of course, there were scores of other lots between the two, including residential and commercial investments, vacant properties, garages and land in all shapes and sizes.
The confidence level of our auction can be seen in the bids and prices achieved, for example, lot 18, a small parcel of copse and roadway in Southampton, had 286 bids; three flats in SE23 held on a 173-year lease sold after 116 bids at £456,500 against a guide of £325,000 plus; a former library on the outskirts of Maidstone sold after 159 bids at £702,000 against a guide of £380-400,000 and lot 33, part of the Cyclopark, attracted 200 bids before the virtual gavel finally fell.
Overall, we had 3,995 requests for the legal packs and 37,000 visitors to our website from 42 different countries during the bidding period (Monday, February 7 to Wednesday, February 9).
For the past 30 years we have strived to conduct auctions that are available not only to property professionals but to all parties looking to use this effective and transparent method of sale. Purchasing a property (or land) is normally the largest transaction anyone will make in their lifetime. With the assistance of our highly trained team that operate within our family business we can help reduce the stress that this can cause.
Details of lots for our next auction (March 23) are now live on our website, cliveemson.co.uk — offering another spectacular array of more than 120 lots.
In the last auction we achieved a sale rate of over 80 per cent