14 Wellington Road, St. John’s Wood, London, NW8 9SP
This property was offered to the market for the first time in over 60 years and was part of an estate in probate which had been ongoing for almost 10 years.
The property was in a dated condition and was inhabited by the some of the beneficiaries to the estate whilst probate was ongoing.
The property retained many of its original features and offered plenty of potential for reconfiguration and future development.
In fact, only two doors down a similar sized property occupying a similar plot of land was undergoing extensive developments works. Including; side and rear first and second floor extensions and an extended basement rear extending over the rear courtyard garden.
The potential was clear from the offset and come the day of the auction, there were several keen bidders in attendance and the property sold from a guide price of £300,000+ for £3,250,000.
The success of this sale dispels the myth that only low value properties are offered for sale via auction.
Instone House, Instone Road, Dartford, Kent, DA1 2AG
This property was being used as an office block at the point of sale. It was offered with planning granted permitted development for conversion to residential use to provide 8 self-contained flats.
Due to the size of the plot this property occupied, it was suggested that further development could be achieved, to provide an additional 20 self-contained flats.
The property was offered as a going concern and was achieving £43,000 per annum part let, with an estimated rental value of £60,000 when fully let.
An attractive prospect for any investor is buying a development opportunity with further potential for development whilst receiving an annual income.
This attractive proposition gained much interest from the start and resulted in an energetic bidding war on the day of the auction. The property sold from a guide price of £750,000+ for £876,000.
The success of this sale shows that a little imagination, a little income and a little planning are a perfect storm for a good result at auction.
34 Sonia Gardens, Dollis Hill, London, NW10 1AH
This property was offered to the market as part of a probate estate sale and attracted a lot of attention from the very start.
The property was a vacant three bedroom detached house in need of some modernisation.
There were a multitude of offers prior to the auction and the interest was easily measured in the room with there being no shortage of bidders trying to secure the property for themselves.
The desirability of this property was clear and after an aggressive and prolonged bidding war this property sold from a guide price of £475,000+ for £868,000.
The success of this sale shows that every property has its place in the auction and highlights the best of an auction sale in the price achieved.
9 Westwell Mews off Westwell Approach. Streatham, London, SW16 5FA
This property had been entered to auction in a derelict state and as such attracted the attention of developers and investors alike. The property had previously been used for storage purposes, but had plenty of potential for residential use – subject to obtaining all relevant consents.
The property was a vacant mew house in shell condition which required planning permission and a full programme of refurbishment to make the space habitable.
There were several offers on this property prior to the auction and the interest levels at viewings was clearly measured by the throng of potential purchasers at every viewing opportunity.
The property was guided at £80,000+ and through fast paced bidding battle the property achieved an eventual sales price of £136,000 under the hammer.
The success of this sale shows that the appetite of developers at auction is veracious and staying true to the guide low, reserve low philosophy of the auction model really does pay dividends in the long run.
61 Marville Road, Fulham, London, SW6 7BB
This property was offered in auction by the administrators of a probate estate. The property had been in the same family ownership for 80+ years and had been uninhabited for the 20 years prior to its triumphant sale at auction.
The property was a three bedroom mid terrace house without a roof and in some areas, missing floor boards and exposed brick wall.
The location of this property combined with the guide price of £550,000+ lead to a very heated marketing period and a highly contested bidding war.
The property sold under the hammer for £1,285,000 and resulted in a round of applause from an electric auction room.
The success of this sale shows that the auction room can be relied upon to set the true market value of a property.
Roof Space, 91 Upper Clapton Road, Hackney, London, E5 9BU
This property was offered to the market as a vacant roof space with planning permission to create 2 x 1 bedroom self-contained flats.
The properties location and proximity to regeneration areas, schools, transport links and other local amenities meant that interest levels were high.
There had been quite a lot of pre-auction interest with several bidders willing to commit to an immediate exchange and completion. The vendors decided that the due high levels of interest, it would be in the properties best interests to sell in the room and under the hammer.
The property was listed for sale with a guide price of £200,000+ and through a fast and furious flurry of bids the property sold for £310,000.
The success of this sale shows that when selling a property at auction, you need to keep a clear head and know that if there is keen interest prior to the auction, then this is likely to translate into a higher sale price on the day.