Savills October auction has international appeal as bidding goes global

28 October 2016

A packed room and competitive pricing saw over £3.5 million raised at the latest Savills regional auction in Nottingham, which took place at the city’s racecourse on Thursday 20th October 2016.

Highlights included:

- A traditional end of terrace property in Mansfield, Nottingham was offered at a guide price of £45,000 - £50,000, but sold in the room for £61,500.

- The sale of a development site on Wells Road in St Anns, Nottingham. The property was guided at £150,000 plus and attracted a high level of interest from across the globe, before the hammer fell at the significant sum of £263,000.

- Land for sale in Market Warsop, Nottinghamshire sold for £120,000, four times more than the original guide price of £25,000 - £30,000.

- The sale of Coach Gap Lane Industrial Park in Langar, Nottinghamshire on behalf of Rushcliffe Borough Council. Guided at £200,000 to £240,000, the lot saw intense competition from bidders interested in the investment opportunity, which finally sold for £265,000.

- A commercial development site on Retford Road in Worksop was sold on behalf of B&Q at the guide price of £300,000.

- Development sites in Buckinghamshire, Harwich and Bedfordshire guided between £5,000 and £15,000 plus. The lots, which were sold on behalf of Anglian Water, attracted significant interest from developers and were eventually snapped up for £53,000, £51,000 and £59,000 respectively.

Bob Crocker, auction manager and director at Savills Nottingham, comments: “This month’s auction saw bids come in from around the world, including countries such as Spain and as far away as Japan. With telephone and online bidding increasing, we now have the ability to offer lots internationally, appealing to a far wider audience than ever before.”

Victor Ktori, head of office at Savills Nottingham, comments: “This auction once again generated considerable enthusiasm from those in attendance, with a number of properties across the country selling for well in excess of the guide price. Plots of land proved particularly popular, suggesting that developers are now being more active as schemes become increasingly more viable as the market continues to stabilise.”

The next Savills regional auction in Nottingham will take place on 15th December 2016, with deadlines for entries on Thursday 17th November.

 
 

General Enquiries

Savills Margaret Street

 

Key Contacts

Victor Ktori

Victor Ktori

Head of Office
Commercial

Savills Nottingham

+44 (0) 115 934 8050

 

Bob Crocker

Bob Crocker

Director
Residential Auctions

Savills Nottingham

+44 (0) 115 934 8023