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BROWN&CO REVIEW OF THE YEAR – Nearly £10M worth of property sold in 2018

Brown&Co held their 4th and last sale of 2018 at the Assembly House in Norwich this week and including lots sold before and after, were pleased with the result, achieving a success rate of over 70%.

Land and property sold throughout the price ranges and Chartered Surveyor, Peter Hornor, commented that there is activity throughout our sector and he looks forward to 2019 and is positive about markets throughout the price ranges. He comments that Auctions continue to work well for buyers and sellers alike and highlights some of the successes in 2018.

The March sale saw some £3.5M worth of property sold on the day, with highlights including a cottage by the railway line in Wymondham and a farmhouse set in nearly an acre at Besthorpe, both in need of renovation and selling well in excess of their reserves. Readers will remember that 43/43a Newmarket Road, Norwich was the icing on the cake at that auction, selling for a figure in excess of £250,000 over the reserve.

Our July auction saw some £2.25M worth of property sold under the hammer with some notable results including the sale of the well-known hardware store in Harleston at a figure well in excess of the reserve, with terraced houses in Norwich also selling well.

Our September sale saw us realise some £2.7M worth of property on the day and the results make interesting reading, with garages and investment opportunities in Holt, Hoveton, Barney and Binham selling for well in excess of the guide prices and an investment opportunity in Sheringham going for well in excess of the reserve. That sale also saw a wonderful property overlooking the North Sea in Marine Parade, Gorleston selling at the top end of the guide and then the icing on the cake was the sale of 1 Town Close Road in the prestigious Town Close Estate in Norwich for a figure in excess of the reserve at £700,000.

So the firm has been busy this year and, importantly, is very pleased with the results of lots that have sold well. The variety of lots mentioned above show how so many different types of property can sell very well via the auction approach.

For more information about how Brown&Co can help, Peter would be delighted to talk to anybody who wants to know more about the auction process and how it can assist vendors in unlocking value and how Brown&Co can help maximise the return.

Auction dates for 2019 have been agreed and the next sale is at the end of March. Brown&Co already have some super lots for inclusion and will be inspecting properties over the course of the next 6-8 weeks with a view to continuing the success of 2018.