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Five August auctions you may have missed

Most of the auctions market took its usual August holiday, but there were still pockets of activity with sales continuing predominantly in the regions. Here’s EG’s pick of the August sales.

Former care home the star buy in Leicester

The Leicester sale held by SDL Auctions Graham Penny on 9 August raised £2.5m, finding buyers for 88% of lots offered.

A tenanted three-storey villa at 28 Fosse Road South in Leicester, containing four flats, sold for £272,000 – a 6.26% yield. It was guided at £225,000-plus. A tenanted three-bedroom townhouse at 243 Pendlebury Drive in Leicester sold for £120,000 – 6.95% yield. It was guided at £115,000-plus.

A former grand Victorian residence, which had been apartments in the 1970s and latterly used as a 17-bedroom care home, sold at its £400,000 guide price. Ivydene (pictured above), in Earl Shilton, is currently the subject of a planning application for change of use back to residential.

The sale took place at Leicester City Football Club.

Overall success rate of 75% in the West Midlands

IAM Sold’s West Midlands auction raised £8m on 2 August, driven largely by conditional lots.

Sales were agreed on 67 out of 83 conditional lots offered (an 81% success rate), for a total of £7.5m. One of the largest was a four-bedroom detached house at 1 Turnham Green, Wolverhampton, which went for £206,000 against a starting bid of £200,000. It was put into auction by estate agency Your Move.

Buyers secured eight of the eighteen unconditional lots offered (a 45% success rate), for a total of £591,000. They included a three-bedroom semi-detached house at 15 Arleston Avenue, Arleston, Telford, Shropshire, which went for £110,000 from a starting bid of £90,000. It was put into auction by estate agent DB Roberts.

The overall success rate at Wolverhampton Wanderers Football Club, was 75%.   

Homes under the hammer in Norwich

William H Brown, part of estate agency group Sequence, raised £3.4m at its Norwich, Norfolk, sale on 2 August, with a 60% success rate.

A three-bedroom bungalow at 29 Brentwood, Eaton, Norwich, fetched £244,000 against a guide of £200,000 to £210,000. A two-bedroom character cottage in the Norfolk village of Ingworth sold for £266,000 against a £230,000 guide. It is in need of updating and offers scope for extending.

A four-bedroom house at 21 Fieldfare Close, Stowmarket, Suffolk, sold for £275,000. It had been guided at £275,000-295,000.

The sale took place at Barnham Broom Hotel, Norwich.

Pub sells for £421,000 in Reigate

Harman Healy raised £3.4m at its 9 August sale, with a 76% success rate.

A five-bedroom detached house on Dalehouse Lane, Kenilworth, Warwickshire, fetched £500,000 for mortgagees in possession, represented by Countrywide Corporate Property Services.

The Barley Mow pub, in a residential area to the south of Reigate town centre, Surrey, was sold for £421,000. The fully licensed public house is suitable for its current use or could be redeveloped, subject to consent. It includes a two-bedroom, first-floor flat.

A top-floor, two-bedroom flat on Regent Street, Wakefield, West Yorkshire, sold for £27,500. It was put into auction by LSL Corporate Client Department on behalf of mortgagees in possession.

The sale took place at Kensington Town Hall, W8.

Walsall flats smash guide prices

Auction House Birmingham and Black Country raised £2.8m with a 77% success rate on 2 August.

A one-bedroom AST flat in purpose-built Parklands Gardens, in a sought-after area of Walsall, West Midlands, fetched £93,500 – a 5% yield. The property has communal gardens and parking and was guided at £55,000.

In Walsall town centre, meanwhile, a one-bedroom AST flat in Fordbrook Court sold for £42,000 – a 9.29% yield. It was guided at £38,500. A five-bedroom semi-detached period house on Birmingham Road, Walsall, fetched £250,000 against a guide of £240,000-plus.

The sale took place at Walsall Football Club.

To send feedback, e-mail julia.cahill@egi.co.uk or tweet @egjuliac or @estatesgazette

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