Suitable property types for auction sale
If you would like further information about the process or benefits of selling your property at auction, please call us on 0800 448 0100 (Freephone).
There are always entries by private homeowners that needs to be sold in a competitive bidding environment. Market value prices have regularly been achieved by this route, resulting in an outcome that cannot be challenged by any unsuccessful bidder.
Properties in need of updating make ideal auction lots. They are in great demand from refurbishment specialists and private buyers keen to undertake a project for their own occupation or for resale. They also appeal to buy-to-let investors who carry out the improvements then retain the properties as part of a property portfolio.
Residential houses and flats with tenants in residence sell well at Auction. If the best buyer for your property is another landlord – and it usually will be – auction is the right route. We would encourage investors and landlords to bid competitively; you won’t need to serve notice on your tenants, and rental income continues to be received right up to legal completion.
Houses of multiple occupation and blocks of flats are regularly sold at auction as investments. Here, it is the rent level that determines the sale price, just as much as the building itself. Sellers will benefit from the high marketing profile and competitive bidding arena offered by Connect UK Auctions, plus the certainty of a sale when the hammer comes down.
Derelict or disused farm buildings, empty commercial premises, buildings with potential for conversion or change of use can all sell well at Auction. In some locations a change to residential use can significantly add to the value of a property. In other situations there may be space for additional dwellings or to substantially enlarge the property. Auction is regularly chosen as the effective channel for such disposals.
Retail shops, offices, industrial units, garage blocks and parking areas – an ever-increasing number of commercial investments are being sold by Connect UK Auctions. It doesn’t matter whether they are vacant or tenanted, with lease renewal soon needed or with a long way to run. We have a large number of investor clients who will consider all types of commercial investment.
Properties that have twin uses or a variety of potential future uses are ideal for sale by Auction. Retail shops with accommodation above appeal to investors as well as owner-occupiers. Further conversion work can often be undertaken, and the property tailored to suit the purchaser’s special requirements.
There is no better way of ensuring that a seller achieves the best price for a building plot or parcel of development land than to offer it for sale by Auction. Builders will be able to consult with architects and planners in readiness to bid up to their maximum in the Auction room. The trade is often surprised by the high prices achieved for land sales in the Auction room, which is great news for the sellers.
We have recently sold paddocks, meadows, fields, moorings, city amenity land and other unusual land parcels. If its property or land that is surplus to requirements, the likelihood is that we could find a buyer at Auction. If it has a value, and is worth marketing, it is worth considering selling at auction.