Auction roundup – the largest remote sale and a bum...

From one of the largest online auctions to a 63-lot sale, Property Investor Today provides a brief overview of the latest auction news.

Bond Wolfe to hold ‘largest’ remote auction in September

Bond Wolfe Auctions is due to hold the ‘largest-ever’ remote bidding and live-streamed auction this month.

A total of 214 lots will feature in the newly published catalogue for the auction that will be held on September 16.

Properties on offer range from a former neighbourhood police base in Bilston to a library in Walsall, and to a Grade II-listed cottage in Hertfordshire.

Other interesting lots include various other properties being sold on behalf of Birmingham City Council, Walsall Council, the Ministry of Justice and the Law of Property Act receivers.

There will also be scores of residential dwellings and commercial properties covering a wide geography across the whole of the West and East Midlands – stretching as far away as London, Manchester, Bath, Cardiff, Durham and the Isle of Wight.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, says the auctioneer will be ‘setting new levels of achievement in the UK auctions sector’, as never before have many different lots been available for a remote bidding sale.

“While many of the properties are based in the Midlands, we’ve attracted scores of other sellers from all corners of the country and the sheer choice will make this a must-auction for thousands of serious bidders,” he adds.

Bond Wolfe Auctions’ switch to online sales events in the wake of the coronavirus pandemic has already proved successful, with its July auction achieving a 95% success rate that saw 161 out of 170 lots sold, raising over £16.3 million.

Over 33,000 people watched the auction live which started at 9am and ran for ten hours.

Reflecting on the auction, Bassi comments: “We had a very busy three-week marketing period resulting in over 2,500 people registering to bid by internet, telephone and proxy.”

He says this month’s auction will set a new record for the largest remote bidding and live-streamed auction in the UK, with strong levels of interest already coming in for the lots on offer.

“Put simply, our latest auction has surpassed all expectations, and I want to pay tribute to everyone in the team at Bond Wolfe Auctions who have pulled together to make this happen.”

Virtual tours are available for many of the properties featured in Bond Wolfe’s sale. For more information, you can visit www.bondwolfeauctions.com.

The auction takes place on Wednesday 16 September at 9am and will be live-streamed via Bond Wolfe Auctions’ website with remote bidding by proxy, telephone or internet only.

Anyone interested in the auctions or with properties for sale in future auctions can contact enquiries@bondwolfeauctions.com or call 0121 312 1212.

Strettons launches its largest September sale since 2011

Strettons has revealed the catalogue for its next national property auction will feature 63 varied lots across the UK.

Taking place on Wednesday 16 September, the sale will be held remotely and live-streamed on the internet with online, telephone and proxy bidding.

The auction will mark Strettons’ largest September sale since 2011, with lots featuring guide prices ranging from £15,000 to £1.5 million.

The highest guide price of the day is lot 12, a freehold investment opportunity on North End Road in West Kensington, W14. The property comprises a ground floor shop, basement nightclub and three flats, boasting a guide price of £1.15-£1.2 million.

Other highlights include lot 1 – a mid-terrace, three-storey freehold vacant office and upper parts on Clapton Road, Clapton, E5 – which is guided at £450,000-plus. The lot offers the potential for residential conversion of the upper floors, subject to planning permission. It also benefits from good transport links with Hackney Central mainline station just under half a mile away.

Lot 2, a freehold two-storey double-bayed vacant house for modernisation on Manor Road in Leyton, E10, has a guide of £425,000-£450,000. The property is situated in a popular residential area and is expected to see demand from investors and owner-occupiers.

Elsewhere, lot 7, a freehold commercial investment and development potential on the busy High Street North in East Ham, E8, is guided at £985,000. The three-storey terraced building comprises a ground floor shop and two self-contained flats – both with two bedrooms and each with access from the rear of the building. The property currently produces £76,880 per annum and there is also the potential to create three further flats at the property, subject to planning permission.

The sale will also feature the Admiral Owen, a Grade II-listed pub in Sandwich, Kent. The lot was given the name in 1832, but the timber-framed building dates back to 1546. Sold freehold and vacant, the pub benefits from a prominent corner position in Sandwich town centre and has the potential for conversion to alternative use – subject to obtaining all necessary consents – and has a guide price of £300,000.

Another piece of history in the sale can be found in the sought-after village of Heacham on the north-west Norfolk coast. Lot 10, a Grade II-listed former school rooms and place of worship, has a guide price of £180,000-plus. The property has the potential for residential conversion and has previously been granted planning permission and Listed Building Consent for change of use, and conversion of the hall into a self-contained three-bedroom dwelling. This permission has lapsed.

Andrew Brown, auction director at Strettons, comments: “I am pleased with the 63-lot catalogue and its variety should attract a range of investors.”

“To have compiled our biggest September catalogue since 2011 in the current conditions is a credit to the team and I am looking forward to adding to the £25 million we have raised for our clients during the Covid-19 lockdown.”

The September auction will be live-streamed from 12pm on Wednesday 16 September 2020. You can view the online catalogue here.