Public auction is hailed a success

A collective sale of land and property by public auction has been hailed a ‘resounding success’ - with 100 per cent of residential lots sold under the hammer.

By The Newsroom
Wednesday, 11th December 2013, 6:00 am
Tom Smith
Tom Smith

The auction was held by W.A. Barnes at The Towers in Mansfield on 3rd December - where some ‘notable results’ were achieved.

One of the properties to be sold was on Birkland Avenue in Mansfield Woodhouse, which comprises a traditional semi let on a regulated tenancy.

Said Tom Smith, RICS qualified valuer at W. A. Barnes: “This type of investment has traditionally sold for around 65 per cent of the VP value and yet intense competition resulted in it being knocked down at £92,000! Only auction could produce such a result.

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“I was particularly pleased to see that there was a good level of completion for residential building land. There was keen bidding on both plots offered –something that we have not seen for the last few years and a definite indication that confidence is returning for speculative development sites.

“Savvy Vendors will compare our results with our competitors and recognise that we consistently deliver the best chance of a successful disposal.”

Tom says entries are now being considered for W. A. Barnes’ next auction in the New Year.

“If you have a property and wish to secure a fast, definite and transparent sale at full market value we shall be pleased to hear from you. We have achieved record sales over the last three months. properties are urgently required to replace sold stock. Competitive fees and professional services assured.”

For more information, contact Debbie Fox-Hale or Tom Smith on 01623 554084 or email to [email protected]