LONDON & COUNTRY Properties go for up to 24 per cent over guide
London and Country Property Auctions, the auction house for Hamptons International,
John D Wood and Faron Sutaria, achieved sales of up to 24 per cent over guide price at its recent auction at the Millennium Hotel in Mayfair.
Richard Delaney, auctioneer
says, “Competition was fierce for the selection of prime property lots. Three in particular sold for well above the guide price highlighting that auctions are a viable channel for prime property sales.” A highlight was the sale of a
four bedroom property on Kent Road in the popular commuter area of East Molesey in Surrey. The property generated impressive bids from a variety of parties and went for 24 per cent (£990,000) above the guide price of £800,000. Richard Delaney continues, “There is undoubtedly significant demand for correctly priced properties in the right locations. Auctions are a good opportunity for buyers to take advantage of motivated vendors to ensure a quick sale.”
LONDON Auction House’s fine show in the cinema
Auction House London had its best sales figures from a single auction. Its April sale raised £4,861,000 – the highest since the brand started operating in London a year ago. 26 of the 29 lots offered were sold – a success rate of 90 per cent. Auctioneer Andrew Binstock
says, “It’s a fun event, with popcorn on offer to everyone. With such a good atmosphere, we run an efficient sale which brings results. Our aim is to push the prices as hard as we can to obtain the best price for the vendor. “The auction is held in a
prominent place on the high street opposite Belsize Park tube. We not only attract seasoned auction buyers and sellers but also those passing by, who drop in and see there is another way to buy and sell property effectively, and return for a future event.” Highlights included a three bedroom semi detached house
PROPERTYdrum MAY 2012 55
in a desirable part of Wembley which needed updating, which sold for £290,000 - £71,000 above its guide of £220,000. Meanwhile, in Edmonton, a three bedroom house in need
of modernisation started at £155,000 and sold for
£209,500 and in Hampstead, a two bedroom flat sold for £540,000 from a guide of £500,000.
Wembley des rez in need of ‘updating’
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