Spring flush of interest in property sale
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Saturday, March 31, 2012
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Hollis Morgan held their second auction of 2012 on Wednesday, March 28, in the iconic surroundings of All Saints' Church, Clifton.
This ever-evolving property event offers more than just the opportunity to buy real estate, with a good range of local businesses such as Your Design Bristol and Charterbank showcasing their own products, special offers and expertise before and after the sale.
In excess of 180 people attended the auction and a good number took full advantage of the complimentary drinks reception in its immediate aftermath – including buyers, sellers and a host of property professionals.
The sale itself offered 19 Lots, a slightly reduced number from the 26 that were originally available, after some had to be postponed until May's auction and Lots 5, 9 and 21 sold prior to the evening. Of these, Lot 5, 72 and 73, Old Market Street, was the most intriguing – a former nightclub positioned yards from the Old Market roundabout with fantastic links to the city centre, Temple Meads and the M32. After failing to sell at February's auction with no concrete interest and a slow start to this month's viewing period, the penultimate two weeks saw an unbelievable turnaround with three interested parties all very keen to make offers. Eventually it sold for well above its guide of £195,000 and will now be updated with changes to the layout, but utilised in much the same way as previously, with a live music venue and new bar set to open very soon.
The evening got off to a very promising start, with Lot 1, 62 Mansfield Road, selling for £110,000. Interestingly, despite a viewing period which lasted for several weeks, the buyer of this property actually saw it for the first time on the day of the auction! This is a great example of just how quick and efficient buying property through auction can be. 12 Montpellier, Weston-super-Mare (Lot 2) sold just above its guide, for £185,000. This huge property in a very pleasant part of Weston now offers its new owner a range of opportunities. Renovation and updating is necessary throughout, but the end product could either be a large family home, a guest house or hotel, or a series of one and two bed flats, with further scope to extend the property by using the substantial garden to the rear of the house.
Lot 3, 6 Lawford Street, Old Market, again generated lots of interest and several bidders were competing on the night. It eventually sold for a very reasonable £106,000, £16,000 above its guide of £90,000.
Other highlights of the evening included the sales of The Site at 21-23, Gilda Close (Lot 24), which has full planning for two buildings containing a total of four flats – this sold for £86,000, while Lot 20, garage to rear of 65 Begbrook Drive, Frenchay, made £8,500.
The main talking point of the whole auction, however, came in the form of Lot 14 – 7, St Nicholas Road, St Paul's. This high-yielding investment property had been the subject of a repossession and as such was offered with an extremely attractive guide price of £225,000. With two telephone bids coming from abroad and a further five interested parties present at the auction, a bidding frenzy emerged with the price rapidly passing £250,000 and soon was in to the £270,000s. At this stage, two bidders dropped out, leaving just one telephone bidder and a local investor in the room. After much deliberation, they both continued on past £280,000, with each bid increasing by just £500 on the last by this stage. Finally, bidding came to an end at £290,000, as it was relayed that the telephone bidder was not prepared to raise this offer.
Including the property that was sold prior to auction, the total amount of real estate that exchanged hands was in excess of £1.2million.
Full results of Wednesday's auction are now available at www.hollismorgan.co.uk. Hollis Morgan are taking Lots for their next sale on Wednesday, May 30.
Please contact Andrew Morgan or Oliver Hollis today on 0117 973 65 65 to request a free valuation.
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Trusted article source icon
Saturday, March 31, 2012
Profile image for Western Daily Press
Western Daily Press
Follow
Hollis Morgan held their second auction of 2012 on Wednesday, March 28, in the iconic surroundings of All Saints' Church, Clifton.
This ever-evolving property event offers more than just the opportunity to buy real estate, with a good range of local businesses such as Your Design Bristol and Charterbank showcasing their own products, special offers and expertise before and after the sale.
In excess of 180 people attended the auction and a good number took full advantage of the complimentary drinks reception in its immediate aftermath – including buyers, sellers and a host of property professionals.
The sale itself offered 19 Lots, a slightly reduced number from the 26 that were originally available, after some had to be postponed until May's auction and Lots 5, 9 and 21 sold prior to the evening. Of these, Lot 5, 72 and 73, Old Market Street, was the most intriguing – a former nightclub positioned yards from the Old Market roundabout with fantastic links to the city centre, Temple Meads and the M32. After failing to sell at February's auction with no concrete interest and a slow start to this month's viewing period, the penultimate two weeks saw an unbelievable turnaround with three interested parties all very keen to make offers. Eventually it sold for well above its guide of £195,000 and will now be updated with changes to the layout, but utilised in much the same way as previously, with a live music venue and new bar set to open very soon.
The evening got off to a very promising start, with Lot 1, 62 Mansfield Road, selling for £110,000. Interestingly, despite a viewing period which lasted for several weeks, the buyer of this property actually saw it for the first time on the day of the auction! This is a great example of just how quick and efficient buying property through auction can be. 12 Montpellier, Weston-super-Mare (Lot 2) sold just above its guide, for £185,000. This huge property in a very pleasant part of Weston now offers its new owner a range of opportunities. Renovation and updating is necessary throughout, but the end product could either be a large family home, a guest house or hotel, or a series of one and two bed flats, with further scope to extend the property by using the substantial garden to the rear of the house.
Lot 3, 6 Lawford Street, Old Market, again generated lots of interest and several bidders were competing on the night. It eventually sold for a very reasonable £106,000, £16,000 above its guide of £90,000.
Other highlights of the evening included the sales of The Site at 21-23, Gilda Close (Lot 24), which has full planning for two buildings containing a total of four flats – this sold for £86,000, while Lot 20, garage to rear of 65 Begbrook Drive, Frenchay, made £8,500.
The main talking point of the whole auction, however, came in the form of Lot 14 – 7, St Nicholas Road, St Paul's. This high-yielding investment property had been the subject of a repossession and as such was offered with an extremely attractive guide price of £225,000. With two telephone bids coming from abroad and a further five interested parties present at the auction, a bidding frenzy emerged with the price rapidly passing £250,000 and soon was in to the £270,000s. At this stage, two bidders dropped out, leaving just one telephone bidder and a local investor in the room. After much deliberation, they both continued on past £280,000, with each bid increasing by just £500 on the last by this stage. Finally, bidding came to an end at £290,000, as it was relayed that the telephone bidder was not prepared to raise this offer.
Including the property that was sold prior to auction, the total amount of real estate that exchanged hands was in excess of £1.2million.
Full results of Wednesday's auction are now available at www.hollismorgan.co.uk. Hollis Morgan are taking Lots for their next sale on Wednesday, May 30.
Please contact Andrew Morgan or Oliver Hollis today on 0117 973 65 65 to request a free valuation.
0
0
* Digg
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Ads by Google
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Sell Your Home Online
www.Homesales.com.au
List Your Home While Buyers Have A Stamp Duty Concession & Sell Today!
*
Booming Mining Properties
www.nationalpropertyresearch.com.au
Own Your Own Home? Earn 80K + P.A Positive Returns UpTo $232 pw
*
Vistaprint $2 Special
www.Vistaprint.com.au
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Also On This is Somerset
You might like:
* Tesco superstore plan for Cheddar FC is confirmed (This is Somerset)
* Things to do in Somerset for all the family over Easter (This is Somerset)
* Bath Rugby chairman Bruce Craig 'hurt' by season of underachievement (This is Somerset)
* Help toast Olympics (This is Somerset)
* Wells RFC make lengthy Senior Vase trek in bid to secure Twickenham final spot (This is Somerset)
From Around The Web
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* Police Warn of Money-Stealing Computer Virus (CSO)
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Thumbnail image
1. Des O'Connor to perform show at Weston-super-Mare Grand Pier
Thumbnail image
2. Trade stands selling fast for this year's Cheese Show
Thumbnail image
3. Man abused police
Thumbnail image
4. Movie magic returns to Palladium
Thumbnail image
5. Artist Emma busy painting majestic swan
Thumbnail image
1. T4 on the Beach 2012: Dappy, Professor Green and Little Mix to...
Thumbnail image
2. Des O'Connor to perform show at Weston-super-Mare Grand Pier
Thumbnail image
3. Trade stands selling fast for this year's Cheese Show
Thumbnail image
4. Man abused police
Thumbnail image
5. Movie magic returns to Palladium
Thumbnail image
1. Taxi driver 'devastated' after sneeze caused crash into ancient monument
Thumbnail image
2. Call to get tough on dog-owners after pet labrador is viciously savaged
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3. Things to do in Somerset for all the family over Easter
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4. Video: World's top downhill mountain bike stars to start series bid in Somerset
Thumbnail image
5. Snow falls over high ground in Somerset as winter weather returns
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* 399 News
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* 539 Jobs
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Today inSomerset
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