BidX1 sells £15.4m at first auction of the year

Digital auctioneer BidX1 sold £15.4m of property – a 79% success rate – at its first auction of the year. The highest price achieved under the virtual hammer was for Lot 12, a site in South Croydon, Surrey, with planning permission for a part-new build, part-conversion to provide 8 homes.  The lot (pictured), which received 40 bids, had a starting price of £1.2m and sold for £1.4m. A former Warburtons bakery site in West Yorkshire also attracted high levels of interest, with 160 bids placed. The property sold for £562,000, some 33% in excess of its guide price. Of the 64 lots that made up the catalogue, 28 (44%) were located in London, showcasing a continued appetite in the capital among both vendors and buyers. Other highlights of the sale, which had an average lot size of £308,000, included a freehold retail investment currently let to a takeaway restaurant at 144 North End Road, W14, which sold for £189,000, some £49,000 over guide price, with 48 bids placed. A freehold, three-bedroom house with potential for redevelopment in Southgate, N14, attracted 75 bids and sold for £734,000. And a terraced house, let on a regulated tenancy in St Albans, Hertfordshire, surpassed its guide by £80,000 to sell at £480,000. Antony Schober, BidX1 chief operating officer, said: “The continued ease of the digital auction model has meant bidders around the world are able to take part in the auction. We had one successful bidder purchase a lot on his mobile phone while he was skiing in the Alps. This shows how accessible and easy to use BidX1’s digital auction model is. “Although we are operating in a tough market, the appeal of digital auctions is proving compelling to buyers and sellers seeking transparency, speed and efficiency while receiving professional property expertise throughout the sale process.” Overall, 990 bids were placed during the auction.   To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette