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Property auction generates ‘considerable enthusiasm’ as bidding goes global

A packed room and competitive pricing saw more than £3.5m raised at the latest Savills regional auction in Nottingham, which took place at the city’s racecourse.

The property sale saw bids come in from around the world, including countries such as Spain and as far away as Japan.

“With telephone and online bidding increasing, we now have the ability to offer lots internationally, appealing to a far wider audience than ever before,” said Bob Crocker, auction manager and director at Savills Nottingham.

Among the highlights of the sale, a traditional end of terrace property in Mansfield, Nottingham, was snapped up for £61,000, a development site on Wells Road in St Anns, Nottingham, for £263,00, land in Market Warsop, Nottinghamshire, was acquired for £120,000, while intense competition saw commercial development site on Retford Road in Worksop sold on behalf of B&Q at the guide price of £300,000.

Victor Ktori, head of office at Savills Nottingham, commented: “This auction once again generated considerable enthusiasm from those in attendance, with a number of properties across the country selling for well in excess of the guide price.

“Plots of land proved particularly popular, suggesting that developers are now being more active as schemes become increasingly more viable as the market continues to stabilise.”

The next Savills regional auction in Nottingham will take place on 15th December 2016, with deadlines for entries on Thursday 17th November.

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