Page 18 - The Negotiator Mag 52pp

Property at auction still strong
The Essential Information Group (EIG) reports on the latest auctions data (from auctions held in June 2022). Chief Executive, David Sandeman gives this analysis:
“For the past 4 months the overall monthly amount raised has seen a double digit increase when compared with the same month last year. In June of this year, it fell back
21%, from £392m to £309m. The reason for this fall in revenue is principally because a major London commercial
June last year raising £75m, but this year have held sales in both May and July but not June. In the regions, the rolling quarter drops were not severe as it is measured over three months and not one month, with six of the regions seeing a rise in the value of properties sold including London, the South East, the Midlands and the South West.”
OVERALL STATS JUNE 2022
Auctions held in the UK 59 Total lots offered 1,849 Totallotssold 1,365
RESIDENTIAL NATIONAL AUCTION ANALYSIS
N.B. Figures in brackets denote the comparative period last year
June 2022
April 2022 to June 2022
July 2021 to June 2022
20,632 (21,966) 16,407 (17,346)
79.5% (79.0%) £3,186.1m (£3,041.1m)
David Sandeman
Percent sold Total realised
73.8% £309,521,119
▼ 6.1% ▼ 5.4% ▲ 0.6% ▲ 4.8%
auction house held an auction in
5,512 (5,572) ▼ 1.1%
4,255 (4,429) ▼ 3.9%
77.2% (79.5%) ▼ 2.9%
£863.4m (£804.4m) ▲ 7.3%
Lots Offered Lots Sold Per cent Sold Total Raised
1,646 (1,804) 1,233 (1,422) 74.9% (78.8%) £277.9m (£291.8m)
▼ 8.8% ▼ 13.3% ▼ 4.9% ▼ 4.8%
BIRMINGHAM CONVERSION STAR LOT IN RETURN TO AUCTION ROOM
A large house in one of Birmingham’s prime suburbs that has been split into three self-contained flats was one of the star lots at Bond Wolfe’s July auction. The double-fronted, semi-detached property in Harborne had a guide price of £435,000+ as Bond Wolfe made it return to the auction room in two-and-a-half years.
The flats include two with two bedrooms and one with a single double bedroom, although the property may also be suitable for conversion back into a substantial six-bedroomed family home.
James Rossiter, an auction valuer at Bond Wolfe, said,
“This impressive double fronted semi-detached lot lies on the east side of Milford Road which is accessible off War Lane, in the
much sought-after suburb of Harborne.
“The property is a convenient short walk from the Harborne High Street providing access to
a number of high street brands, banks and restaurants. The property was one of 206 properties that went under the hammer.
DETACHED PROPERTY WITH SEA VIEWS...
18 AUGUST2022 TN0822_Auction News glfin.indd
and its seaward side is fitted out with 12 inches of armour designed to withstand gunfire from heavy naval units. During World War II
it had sufficient accommodation for a garrison of 200 men. The fort can only be accessed by private boat and helicopter.
Steven Morish of Savills said: “This is an exciting and unique lot, the fort is in need of refurbishment throughout with potential for development or alternative uses subject to consent. It will require an imaginative buyer with a project in mind but suggestions for future uses so far have included a high-end hotel, restaurant, Airbnb, grand design style personal dwelling, retreat and a tourist attraction.”
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28/07/2022
11:47
AUCTION NEWS
Bull Sandfort, a Grade II listed sea fort located in the Humber Estuary went up for sale at Savills most recent auction.
It follows the sale of its smaller sister fort, Haile Sand Fort, which sold for £117,000 at auction in 2018 to an unnamed purchaser.
The fort was planned in 1914
at the start of the First World War to protect the sea entrance to the Humber Estuary. Construction began in 1915 and was not complete until December 1919. It was then reactivated and modernised during the Second World War. Structurally, the fort includes three floors with basement and magazine below sea level, and a central two-storey observation tower. It is reinforced by concrete