Over £2.5million raised at new look Savills regional auction in Nottingham

The Savills regional auction house based in Nottingham has marked the start of 2018 with a £2.675m February sale and a complete catalogue redesign.

Bidders at the auction were greeted with a new look catalogue and sellers were given the opportunity to market their properties to a much wider audience following the announcement last month that the regional auction arm at Savills has joined forces with its national counterpart.

25 lots were offered with a success rate of 72%. Residential highlights of the day included: the sale of 11 Hartington Street, a semi-detached period property in Sherwood, which has been divided to create three self-contained units that sold for £299,000 against a guide price of £180-200k; and a traditional two-bed end of terrace property on Albert Road in Long Eaton with a guide price of £100-120k, which sold on the day for £131,000.

Land sales also proved popular with a collection of fishing lakes totalling eight acres at Bleakhills Lane in Mansfield with a guide of £55,000, which sold for £60,000; and a small parcel of land in Markham Moor, Retford, extending to approximately 1.22 acres. The gavel eventually came down at £8,500 against an initial guide price of just £500.

Commercial highlights included the sale of Old Station Yard in Stonehouse, Gloucestershire. The former industrial premises, which has significant potential for residential conversion subject to planning, was sold in the room at the guide price of £350,000. 5 Manor Road in Sutton Coldfield provided another attractive business opportunity and the established restaurant premises was also sold at the guide price of £350,000.

Rob Crocker, Auctions Director at Savills Nottingham, said: “Our first auction of the year saw a very strong room of bidders with good results achieved. From fishing lakes to plots of land and from properties suitable for owner occupiers to investor opportunities, the lots were varied and wide ranging, which helped to attract a much broader range of bidders.

“It is good to start the year with a refreshed auction identity and the relaunched catalogue is a welcome addition. Not only has the regional auction catalogue been rebranded, but we have now joined forces with our national auctions team based in London which means that all regional auction lots will be showcased in the national catalogue.

“With 145,000 subscribers and growing, it is already providing more opportunities for properties to be seen by buyers across the United Kingdom and overseas.”

Victor Ktori, Commercial Director and Head of Savills Nottingham office, adds: “This month’s auction proves that appetite remains strong amongst savvy investors looking for both commercial and residential opportunities across a wide geographical spread. Leisure assets, in particular, continue to draw attention from bidders both as established businesses and as potential conversions due to their central location and strong community links.”