The auction, on Friday 28th March at Nottingham Racecourse, saw 50 varied lots offered including residential property, commercial property, development land and others, many of which secured sale prices of more than 20 per cent over the guide price, reflecting the increasing property prices in the region.
Graham Penny says that there is much being said about the property market in the press at the moment but what is clear from the auction is that there is significant demand for properties in Nottingham.
“We had several exciting bidding contests leading to a number of happy purchasers and happy vendors – many of which achieved a price over what they thought they could achieve.”
Amongst the properties selling in the auction room were:
26 Elmsthorpe Avenue in Lenton – a traditional two bedroomed property requiring modernisation and improvement throughout had a guide price of £75,000+ and sold for £96,500.
40 Duncombe Close in Nottingham – a one bedroomed ground floor flat, currently let at £350pcm on an assured shorthold agreement, which had a guide price of £30,000+ and sold for £37,500.
45 & 47 Bowne Street in Sutton in Ashfield – a pair of stylish modern three bedroomed semi-detached properties which sold for £143,000 from a guide price of £95,000+.
45 Dale Close in Langwith, Mansfield – a four bedroomed semi-detached property with ground floor extension which had a guide price of £55,000+ and sold for £70,000.
Graham Penny Auctions, the number one property auction house in the Midlands, acts for both private individuals and institutions selling a wide range of interests, from investment properties and vacant houses to building plots, commercial properties and others. It is now inviting entries for its next auction on Thursday 15th May which is taking place at the East Midlands Conference Centre as part of the East Midlands Landlords Expo.
Graham added:
“Entries are now open for our next Nottingham auction and I encourage anyone thinking of selling to get in touch with us now for a free appraisal. Our next auction is taking place as part of the East Midlands Landlords Expo so there will be even more landlords and investors in the room looking for the next addition to their property portfolio.”
