SDL Auctions records bumper August sale
Midlands-based SDL Property Auctions has sold the largest number of lots in an August sale for the second year running.
It sold 128 lots from 173 offered in its live-streamed national property auction on 26 August, a success rate of 74%. The total raised was just over £17m, up from £14.6m from 138 lots sold in August 2020.
London auction houses Allsop residential and Savills both held August sales in what is traditionally a quiet month for the industry, raising higher totals from fewer lots.
Midlands-based SDL Property Auctions has sold the largest number of lots in an August sale for the second year running.
It sold 128 lots from 173 offered in its live-streamed national property auction on 26 August, a success rate of 74%. The total raised was just over £17m, up from £14.6m from 138 lots sold in August 2020.
London auction houses Allsop residential and Savills both held August sales in what is traditionally a quiet month for the industry, raising higher totals from fewer lots.
SDL’s catalogue for 26 August had originally listed 213 lots – a quarter of all lots listed for August sales, according to Essential Information Group figures. The bumper catalogue was no doubt bolstered by the fact that it represented a last chance to take advantage of the final reduction in stamp duty. The nil rate band of £250,000 will return to £125,000 for properties which complete in October onwards.
Managing director Andrew Parker said he was thrilled with the performance.
In Birmingham, a semi-detached house on a corner plot which had been previously offered for sale by another auction house sold for £270,000 from a £165,000-plus guide (lot 8).
A chalet-style two-bedroom bungalow in Toton, Nottingham, sold for £258,000, almost double its guide price of £135,000-plus (lot 50).
Parker said: “Bungalows are always popular and this is an excellent investment opportunity with the opportunity to add value and in a prime location within walking distance of Nottingham’s popular tram network.”
In Lancashire, a semi-detached house was offered in partnership with estate agent Entwistle Green, selling for £139,000 from a guide of £127,000-plus (lot 36c).
Highlights also included a former pub, The Cricketers, in Maidstone, Kent (lot 82), which sold with planning permission for conversion to six flats for £550,000. It was guided at £500,000.
Timed auction lots during the month included a London flat which sold with sitting tenants in partnership with Bairstow Eves. The Romford property sold for £183,000 from a guide of £170,000-plus.
Fixed-price sales included an antiques shop with four-bedroom flat above in Market Rasen, Lincolnshire (pictured), which sold for £150,000 in partnership with John Taylors.
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Image © SDL Auctions
