BRISTOL AND THE WEST COUNTRY’S BIGGEST LIVE PROPERTY EVENT hollis morgan
ANDREW REFLECTS ON OUR MARCH AUCTION
“Time Marches On” With the burgeoning of the Magnolia trees and everything in nature indicating that Spring has arrived – and with our March Auction just completed – it is a very salutary lesson to realise that a quarter of the year has almost already gone. The March sale came hard on the heels of a fantastically successful February sale and confirmed the underlying strength in the property market. However, like everything in the world at present, the property market is complex with successful auction sale prices varying from predicted estimates to some surprising results. All this proves, and underscores, the merits of the auction process as a successful medium to handle the vicissitudes of the marketplace. A bit of glamour as well… Just prior to the sale the auction team were all treated to a moment of glamour with some filming for “ Homes Under The Hammer ”. So by the time our real live auction started we were all fully pumped and ready for auction-action. The first Lot went like a dream with an investment property in Greystoke Avenue, Southmead, comprising a fully tenanted retail unit with two flats above and an income of just under £25,000, setting the standard for the evening and with keen bidding from both on line and telephone bidders the guide price of £235,000 was quickly surpassed until the gavel fell to the eventual successful buyer at £272,000. As usual our catalogue contained a plethora of properties from around the region and, as seems to be the current trend with a shortage of opportunities, many properties were sold prior to the auction. Many people simply cannot wait for the picturesque and unusual or just for a good opportunity so a stone-built garage block in Frome with planning permission to convert to an office sold for £95,000. An investor also recognised the advantage of a pre-auction offers and happily jumped at the opportunity to acquire three small flats at £240,000 possibly an ideal base for possibly attending musical or religious festivals! From Frome to Glastonbury, Bath to Gloucester the pattern was the same
03 2024
SOLD Gloucester Clevedon 130 Strode Road, Clevedon BS21 6QG
GUIDE PRICE : £200 k +++ £220 K
2024 RESULTS 100 2.70
% SUCCESS RATE £m TOTAL RAISED 03
10 % ABOVE GUIDE
Scope for a fine home or investment A Freehold mid terraced two bedroom period house with accommodation (1018Ft 2 ) arranged over two floors with enclosed rear garden. The property now requires modernisation but has scope for a fine home or investment in this sought after location with a wide range of amenities and within level walking are banks and a post office. There are golf courses, woodland and coastal walks in addition to excellent primary and secondary schools. Sold with Vacant Possession .
8
2.24 %
AVERAGE ABOVE GUIDE
16 #
LOTS SOLD
and culminated in a sale of just over £2.5m. A sale of small value Lots with great results. Andrew Morgan MBE . AUCTIONEER
…with a shortage of opportunities, many properties were sold prior ” “
hollis morgan | the results speak for themselves
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