Online property auction raises over £10m – but which properties sold?
- Credit: Archant
Robert Hurst, chartered surveyor and auction manager at Auction House East Anglia, details which properties sold in the latest online auction.
Auction House East Anglia raised over £10m from its sixth auction of the year on Wednesday, October 21.
As a company, we offered 71 lots with 58 finding buyers, giving an 82pc success rate. The auction had 267 registered bidders with 182 internet bidders, 66 telephone bidders and 19 proxy bidders. On the day 1,574 people watched the auction live on the Auction House website.
This was our most successful auction ever and I believe the first time a local auction has raised over £10m in sales.
Our highly successful live stream auctions behind closed doors with remote bidding via internet, telephone and proxy are the new norm. We are getting huge engagement from buyers and sellers and achieved some impressive results. As normal those sellers who were sensible in setting realistic expectations were rewarded. The success of our auction is in no small part due to the global reach of our live stream auctions. The tools we have at our disposal to reach sellers and bidders is far and wide with bidders throughout the country and abroad.
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The saying “buy land, they’re not making any more of it” certainly rang true, with agricultural and amenity land lots faring well:
? 8.26 acres in Swavesey sold for £132,000 (nearly £16,000 per acre)
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? 6 acres in Redgrave sold for £100,000 (nearly £16,500 per acre)
? 3.9 acres near North Walsham sold for £59,000 (over £15,000 per acre)
? 3 acres near Attleborough sold for £130,000 (over £43,000 per acre)
? 3 acres in Suton near Wymondham sold for £106,000 (over £35,000 per acre)
? 0.3 of an acre in Toft Monks sold for £46,500 ? 1.75 acres of woodland in Flixton sold prior.
The wide variation in per acre value shows that auction is the best way to sell up to 20 acre parcels of land.
Some of the other results include: ? A three-bedroom semi-detached house off Thunder Lane in Thorpe St Andrew sold for £233,000 to an internet bidder.
? A two-bedroom mid-terrace house let producing £525 pcm (£6,300 pa) on Old Palace Road in Norwich sold for £137,000 to a proxy bidder.
? A three-bedroom townhouse requiring updating on Bumpstede Court in Bowthorpe sold for £136,000 to a telephone bidder.
? A three-bedroom semi-detached house let producing £650 pcm (£7,800 pa) off Parr Road in Norwich sold for £130,000.
? A former Barclays bank on Bridge Street in Downham Market sold for £330,000.
? A three-bedroom detached bungalow set on a large plot of nearly an acre on Bexwell Road in Downham Market sold for £399,000
? A detached three-bedroom farm house in need of modernisation set in nearly half an acre on Beach Road in Snettisham sold for £203,000. An adjacent 0.2 acre plot sold for £120,000.
? A vacant two-bedroom townhouse on Marwood Close in Wymondham sold for £125,000 to a telephone bidder.
? A detached three-bedroom cottage off The Meadows in Thurlton sold for £265,000 to a proxy bidder.
? A commercial property let to a dental surgery producing £7,000 pa on The Street in Long Stratton sold for £179,000 to an internet bidder.
? A five-bedroom period farmhouse requiring refurbishment set in a 0.71 acre plot off Upgate Street in Carleton Rode sold for £352,000.
? A mixed use property comprising a ground floor shop, two-bedroom flat above and outbuilding to rear off Norwich Street in Dereham sold for £153,500.
?A detached five-bedroom chalet bungalow requiring updating and repair on Spixworth Road in Norwich sold for £277,000.
? A mixed use investment comprising a let grounds floor shop and let one-bedroom flat above producing £9,490 pa off Heath Road in Norwich sold for £176,000.
? An end terrace property converted into two self contained flats off Yarmouth Road in Thorpe St Andrew sold for £143,000.
? A commercial investment comprising a two storey shop and car sales yard producing £9,750 pa off St Johns Close in Norwich sold for £128,000.
? A three-bedroom mid terrace let producing £595 pcm (£7,140 pa) sold for £139,000.
? A three-bedroom mid-terrace ex-local authority house in need of some updating on Bowers Avenue in Norwich sold for £140,000.
? A two-bedroom penthouse apartment off Patteson Road in Ipswich sold for £171,000.
? A two-bedroom terraced house in need of modernisation on Ferry Lane in Kings Lynn sold for £121,000.
? A vacant three-bedroom end terrace property on Chiltern Road in Corby sold for £173,000.
? A building plot with planning permission to build a three-bedroom detached house off Bourne Road in Spalding sold for £46,700.
? A mixed use property comprising vacant offices and a self contained two bedroom flat let producing £5,000 pa off Post Street in Godmanchester near Huntingdon sold for £290,000.
?An eleven-bedroom former hotel in need of renovation on Lincoln Road in Peterborough sold for £350,000.
? A four-bedroom detached house on North Quay in Great Yarmouth sold for £178,500.
? A three-bedroom end terrace requiring refurbishment off Walpole Road in Great Yarmouth sold for £96,500.
? A detached three-bedroom bungalow set on a large plot off Claydon Grove in Gorleston sold for £219,500.
? A barn for conversion set in over an acre off Beccles Road in Aldeby sold for £272,000 to a telephone bidder.
? A let two-bedroom terrace house producing £475 pcm (£5,700 pa) on Raglan Street in Lowestoft sold for £80,000 to a telephone bidder.
? A detached warehouse extending to 1,560 sq/m on Commercial Road in Lowestoft sold for £286,000 to an internet bidder.
? A Victorian terraced house requiring improvement on Sycamore Avenue in Lowestoft sold for £124,500 to an internet bidder.
? An end terrace property in need of improvement on Hervey Street in Lowestoft sold for £95,000.
? An end terrace three-bedroom cottage close to the seafront on Wilson Road In Pakefield sold for £118,000.
? A one-bedroom maisonette on Stanley Street in Lowestoft sold for £70,000.
Auction House East Anglia’s next live stream auction will be on December 2, which is its final one of the year. If you have land or property that needs to be sold before Christmas, please call the auction experts on 01603 505100 for free impartial advice or contact us via our website www.auctionhouse.co.uk/eastanglia