BRISTOL AND THE WEST COUNTRY’S BIGGEST LIVE PROPERTY EVENT hollis morgan
ANDREW REFLECTS ON OUR APRIL AUCTION
“An Englishman’s garage could be his castle!”
04 2024
You could be forgiven for thinking that a garage is rather a boring object but, over the years, I have perceived how these 16’x 8’ boxes, with no architectural merit, have evolved into rather good investments. Car ownership has increased exponentially and most cities with period city centres and suburbs don’t have garages, also since the pandemic people have found innovative uses for garages, offices, gyms, storage, man caves etc. Increasingly, however, blocks of garages often present the opportunity for a potential building plot. You can imagine my delight, therefore, when I had two lots of garages in the April Auction. Telephone and online bidders were again out in force… Lot 1 comprised a rank of vacant garages in Rossall Avenue, Little Stoke with a generous turning forecourt, this opening Lot had the potential to produce an income of £6,500 per annum. Swift bidding online and by telephone soon took the guide price from £35,000 to £65,000 – the price of a house in many parts of the country. Later in the same sale we had a collection of 7 single units and a detached double garage in a quiet cul-de-sac offered subject to the existing tenancies. The site had the potential for a building plot, subject to any necessary consents. Telephone and online bidders were again in action, so it was no wonder the guide price of £50,000 proved to be an academic figure and I was finally able to knock the property down at £85,000. As usual many vendors preferred to take the opportunity of good offers prior to the auction but, nevertheless, I was left with a plethora of interesting properties from around the region and was able to raise a very satisfying £4m plus from the nights work. Home for a glass of red wine with my only regret being that I don’t own a garage Andrew Morgan MBE . AUCTIONEER
2024 RESULTS 100 4.54
% SUCCESS RATE £m TOTAL RAISED 04
10
27.27 %
AVERAGE ABOVE GUIDE
20 #
LOTS SOLD
“
many vendors preferred to take good offers prior to the auction…”
hollis morgan | the results speak for themselves
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