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Allsops Auction - TODAY
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Posts: 2,763 Forumite
Despite the Bank of England's downbeat assessment of the British economy issued yesterday, and the media talking down the sector, Day 1 got off to a fantastic start. In front of one of the largest rooms ever, with over 500 people at any one time, and an estimated 1,000 people on the day, the Residential Auction team knocked down over £44m of property, with a success rate of 86%.
There were both regular investors in the room, as well as first time buyers. Although there has clearly been a market correction, a number of bidders were surprised by some extremely keen prices being paid. Notable lots included:
Lot 10 - 2 Rectory Grove, Clapham, London SW4
By order of Lambeth Borough Council
A freehold Grade ll Listed end of terrace building with potential for residential development. With a guide of £1m-£1.2m, this was sold for £1.4m after extremely keen bidding.
Lot 110 - Flat 6, 21 De Vere Gardens, Kensington, London W8
By order of Mountview Estates plc
A large leasehold first floor split level self-contained flat of approximately 1,665 sq ft with a guide price of £1.25m-£1.5, eventually sold for £1.925m
Lot 179 & 180 - Two Sites at Park Avenue, Middlesex
By order of BRB (Residuary) Ltd
Two freehold sites comprising a builder's yard and depot sold separately for £1m and £530k respectively.
Day 2 of the Residential Auction (Lots 250-413) takes place on Monday 18th February at The Cumberland Hotel, Great Cumberland Place, London NW1.
There were both regular investors in the room, as well as first time buyers. Although there has clearly been a market correction, a number of bidders were surprised by some extremely keen prices being paid. Notable lots included:
Lot 10 - 2 Rectory Grove, Clapham, London SW4
By order of Lambeth Borough Council
A freehold Grade ll Listed end of terrace building with potential for residential development. With a guide of £1m-£1.2m, this was sold for £1.4m after extremely keen bidding.
Lot 110 - Flat 6, 21 De Vere Gardens, Kensington, London W8
By order of Mountview Estates plc
A large leasehold first floor split level self-contained flat of approximately 1,665 sq ft with a guide price of £1.25m-£1.5, eventually sold for £1.925m
Lot 179 & 180 - Two Sites at Park Avenue, Middlesex
By order of BRB (Residuary) Ltd
Two freehold sites comprising a builder's yard and depot sold separately for £1m and £530k respectively.
Day 2 of the Residential Auction (Lots 250-413) takes place on Monday 18th February at The Cumberland Hotel, Great Cumberland Place, London NW1.
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Comments
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i never take guide prices seriously and in the present climate auctioneers are purposefully pitching them low to pull in the punters"enough is a feast"...old Buddist proverb0
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Plus of course the large number of propreties at the auction that either didn't sell, or sold for much lower than guide price.
In many cases less than they exchanged for in 2004.Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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