As the team at SDL Auctions Graham Penny takes final instructions from vendors looking to sell properties in the first Nottingham auction of 2018 on Wednesday 31 January, it is a good time to reflect on 2017.
SDL Auctions Graham Penny held seven auctions in Nottingham last year, with competitive bidding and busy auction rooms resulting in more than £19m worth of property sold, with many outstanding results recorded.
And now the team is looking to collate more lots for each of the seven Nottingham auctions this year, and is keen to hear from potential vendors who want to achieve good prices in a fixed timescale for their properties.
Vejay Pal, senior valuer at SDL Auctions Graham Penny, said: “Our Nottingham auctions were a great success and grew in popularity, both amongst buyers bidding in the auction room and sellers attracted by the secure and quick route to sale.
“Any properties which sell in the auction room will exchange contracts immediately and completion usually takes place only three weeks later, meaning the whole process only takes around six weeks from instruction.”
In 2018, SDL Auctions Graham Penny will hold auctions at the Nottingham Racecourse in January, March, May, June, September, October and December.
Among the properties already entered into the auction on 31 January are a pair of tenanted flats in the same block, each bringing in rental incomes of more than £5,000 a year.
The ground floor flat at 1 Gardiner Court on High Street in Mansfield Woodhouse is currently let for £475 per calendar month, while 3 Gardiner Court on the first floor is bringing rent of £425, and each lot has a *guide price of £60,000+.
Other investment properties included in the Nottingham auction catalogue are a two/three bedroomed, three-storey terraced house at 12 Vale Drive in Shirebrook, Mansfield which requires renovation and has a guide price of £45,000+ and a three bedroomed, three-storey terraced house at 112 Broxtowe Drive in Mansfield, which has a guide price of £50,000+.
Mr Pal added: “If you’ve not considered an auction sale before then give us a call for a free property appraisal and we can talk you through the process. We have thousands of buyers on our database and hundreds of buyers in our auction rooms who want to buy your property.”