W A Barnes, the Sutton-basedchartered surveyors and auctioneers, reported encouraging results from their latest collective sale of land and property by public auction at The Towers in Mansfield.
The hammer fell on all of the residential properties offered. Total proceeds from the sale amounted to £1.1m. The overall success rate was 82 per cent in terms of lots sold/lots offered – well above the industry standard which the Essential Information Group states to be 68 per cent nationally.
Commenting after the sale, chartered auctioneer Tom Smith said: “This sale embraced a wide variety of lots. As usual, it was the houses in need of full modernisation that secured most interest and achieved premium prices. Builders looking for ‘hospital jobs’ – opportunities that they can set their men on when work dries up - really buoyed up demand.”
Vendors included numerous executors, trustees and Nottinghamshire County Council.
“These are the traditional fiduciary clients who have a duty to sell at the best possible price within a reasonable time scale. The sale is conducted in the public gaze and there is no better way of proving that a property has been properly promoted and sold at the best price on the day. Warring beneficiaries can be satisfied that they are getting their ‘fair share’.
Highlights of the sale included a house on Chesterfield Road Huthwaite on a one acre plot requiring full modernisation which was knocked down at £130,000. A bidding frenzie drove the price of a house in poor condition on Appleton Road, Blidworth, up to £55,000.
Barnes are now accepting lots for their winter sale. Call 01623 554084 for advice.