80% SALES ACHIEVED AT LATEST SMITH AND SONS AUCTION
Property auctioneers, Smith and Sons, raised over £2.5million its latest auction, selling in excess of 80% of the lots offered.
A busy room at the Village Hotel in Bromborough, together with multiple phone bids, generated good interest which resulted in another successful sale. The majority of potential buyers were investors and developers either looking to buy their first investment or strengthen their portfolios.
Chris Johnson, Auctioneer at Smith and Sons commented: “The auction room presents the ideal opportunity for both new and experienced investors, developers and builders to purchase a property at a good price, make any necessary improvements and then sell on or rent.
“Wirral has been cited as one of the top locations in the UK where buyers can secure good prices and see strong yields – as such, we are seeing more activity from both local buyers as well as those from further afield. The auction saw a number of buyers from outside the area who recognise Wirral as a place to do business.”
Interesting lots included Abbeyfield Nursing Home in Prenton which sold for £340,000, whist competitive bidding for a cottage in Northwich needing refurbishment resulted in a final sale price of £82,500 against a guide of £60,000.
Terraced properties with rental potential were as popular as ever whilst a number of commercial investments were also sold on the day with other sales agreed afterwards.
Chris added: “This was a particularly large and varied auction that attracted a diverse audience both from regular investors and owner occupiers.”
We are now taking instructions for our next auction which will take place on the
5th December with a closing date of 2nd November. For further information please contact aas@smithandsons.net or 0151 647 9272
