£2.7m raised in January auction
Our first online auction of 2023 saw over 650 registered buyers and raised £2.7m from the sale of 11 lots out of 16, a success rate of 70%, with all the lots selling over their advertised guide prices. The star lots were two parcels of unconsented land in Windsor and Ruislip, selling for well in excess of their guide prices, illustrating that there is still strong demand for add value opportunities.
Daniel Gale, Head of Auctions at First for Auctions, said: “It’s a new year with new challenges and we were unsure if holding an auction in January would be the best option for our clients with interest rates rising for the 10th time in a row. However, we wanted to provide them the opportunity to secure buyers ahead of the usual February property rush, avoiding market competition where possible. The results were extremely pleasing, the two parcels of land exceeded expectations by a long way, and all residential freehold opportunities received good interest.”
Auction highlights include:
• Lot 1 - Land Adjacent To Pineview, Windsor: A level area of land with road frontage - measuring approximately 0.268 acres, (0.108 hectares), which sold for £150,000 (originally guided at £30,000)
• Lot 2 - 6 Froxfield Avenue, Reading: A 2 bedroom detached house requiring refurbishment, which sold for £368,000 (originally guided at £245,000)
• Lot 3 - Land at 39 Southcote Rise, Ruislip: A parcel of land with road frontage, which sold for £171,500 (originally guided at £80,000)
First for Auctions next auction will take place online on Friday 24th February 2023.
