Loveitts’ recent bumper auction, which saw a record-breaking thirty lots up for grabs, concluded with a final two lots exceeding their individual guide prices.
The two properties, situated at Mulliner Street and Newdigate Road, created a stir among 300 auction-goers, with each lot smashing its individual guide price by nearly £50,000 between them both.
The first lot sold for £92,000, having had a guide price ranging between £50,000 and £70,000. The second lot was not far behind, achieving £84,500 on a guide price between £40,000 and £60,000.
Bidding picked up pace, being received from the floor and by phone. Other lots in the line-up included a mix of land and properties, all attracting a substantial amount of interest.
Loveitts director and auction manager, Sally Smith, commented: “It was our biggest ever auction by far both in terms of attendees and the number of lots.”
“We had a fantastic night and although a few properties remained unsold, we are confident that sales will be agreed for all in the coming days.”
Opportunities for investment proved to be desirable, such as a four-bedroom, three-story house in Middleborough Road, Coundon. A development in Clay Lane, Stoke, was also up for grabs, comprising land with planning permission for erection of a student accommodation with 37 ensuite bedrooms.
Both lots sold in a bidding frenzy, achieving £292,000 and £435,000 respectively – also considerably above the guide price.
“What is clearly evident is that the auction marketplace remains extremely buoyant and we were delighted with the result,” Smith added. “We are now setting our sights on the next auction on the November 23 for which we are currently taking lots.”