Auction House North West celebrated their 1st year anniversary of its inception with a record-breaking auction in October, achieving their largest ever property auction with 131 lots offered and achieving their largest ever gross sales, taking in excess of £6.3 million at a sale success rate of 78%!
Auction House North West was officially the largest auctioneer in the entire North West region for October, offering more lots, selling at a higher percentage, and achieving the highest sales of any other in the region.
Another full room of buyers was present to witness the spectacular auction event.
The auction experts, who operate out of the heart of Manchester City Centre and Preston, offer unrivalled coverage across the North West and beyond, with specialists in selling both commercial & residential property.
With a broad range of clients with varying property needs, Auction House North West delivers 7 Property Auctions a year, taking entries for their record-breaking event in a swift two-week turnaround.
The opportunities presented by sellers on the day ranged from five prominent Manchester City Centre apartments (all of which were sold on the day), an apartment in the landmark Beetham Tower (the first time ever an apartment in this Manchester City Centre development has sold at auction) sold for £245,000, the Oldest Nightclub in The Gay Village Manchester, rich in history and selling for £600,000+, to locally famous period houses that sold for £275,000 on the day.
Achieving yet another company best, the rise in quality and high-value stock obtained within Manchester City Centre, is testament to the hard work that has been dedicated to ensuring Auction House North West helps their clients with the best options for selling their properties and portfolios.
Oliver Adams, Director, Residential Property, noted:
“The entire auction was a record-breaking event for Auction House North West.
Our largest ever auction with 131 lots raised our largest ever gross sales, taking in excess of £6.3 million, with a sale success rate currently at 78%.
The lots ranged from parcels of land with a NIL reserve to a famous landmark pub selling prior to auction for a figure in excess of the quoted guide of £600,000+.
We sold 100% of the lots to one client, who entered 16 residential units, and we sold 3 Manchester City Centre apartments prior to auction for another client.
Our largest residential sale was a locally famous house in Lancaster, Quarry Mount, that saw the hammer fall to £275,000.
No matter what you have to sell, you must consider auctioning as an exit strategy; it’s fast, secure, and a great way to secure the best price from the whole market of buyers.”
The registration room was still packed long after the auction had started with would-be buyers.
The North West of England has the most active UK Auctions market outside of London. The advent of the ‘Northern Powerhouse’ is starting to transform the region and clear signs of an investment surge are now highly visible in the area.
Stuart Cooper, Director of Commercial Property, commented:
“Commercially speaking, the auction was a great success; there were many particularly pleasing results but specifically, one client entered a small portfolio of commercial units and every one sold, netting the client more than £157,000 above the combined guide prices.
Overall, we disposed of over £1.8 million of commercial property, with more post-auction deals to follow, which should see us top the £2 million mark.
The shortage of stock on the private treaty market means that more and more buyers are turning to auctions to acquire stock and in turn, more and more sellers are willing to offer their properties at auction, not only for speed and convenience but also to achieve great prices, especially as we at AHNW are willing to act on a no sale, no fee (no entry fee) basis, It can also prove to be not only quicker but cheaper than private treaty sale!”
Auction House North West are already receiving entries for their next Auction, which will take place on Wednesday, December 13th, and be held at the highly accessible Macron Stadium in Bolton.
If you’re thinking of selling your residential or commercial property, “who are you going to call?”
