What a weird lot! Latest property auction reveals unusual property for sale

first_imgHome » News » Auctions news » What a weird lot! Latest property auction reveals unusual property for sale previous nextAuctions newsWhat a weird lot! Latest property auction reveals unusual property for saleNetwork Auctions’ latest auction enabled one bidder to become a ‘landowner’ in Surrey – for just £51!Sheila Manchester22nd May 202001,848 Views Auctions have, in recent times, become a way of passing time and maybe bagging a bargain. Yesterday’s Network Auctions sale showed how popular they have become – and they really do sell properties with ‘No Reserve’ when a parcel of land sold under the online hammer at just £51 in their 21st May auction.The land (above) , situated at Meadow Way and Orchard Way, Reigate, Surrey comprises 0.62 acres of highway, paths, verges and part of a roundabout in the popular residential areas.The auctioneer’s addendum was a note of caution for bidders: “We are advised by the local authority highways department the title comprises land that is publicly adopted, buyers should make their own enquiries in this regard.”Bagging a bargainHowever, plucky bidders hoping to bag a bargain were outnumbered as keen buyers placed 81 bids for a three-bedroom house in Bradford shooting the guide price from £40-45,000 to a final sale price of £68,750.Toby Limbrick said, “We had early interest in the Fagley Road house in Bradford. It was habitable, but dated and needed refurbishment, it was a property that hadn’t been touched for years. We had strong pre-auction offers, but we advised the seller to stick to the virtual room. We’re delighted to have achieved 72% above the lower guide price.“The market is active and our auction shows that, we sold properties today all over the country. We’ve seen an increase in demand for higher yielding residential lots because money in the bank is yielding so low, investors want more than £1,000 for every £100,000 and with property they can achieve that.”Network Auctions next auction is 15th July. www.networkauctions.co.uk May 22, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

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