Brown&Co held their 4th and last sale of 2019 at the Assembly House in Norwich in December and including lots sold before and after, were pleased with the result, achieving a success rate of over 72%.
The room was full and bearing in mind it was the day of the General Election the firm was delighted with the interest shown from buyers looking to acquire property across the price ranges in Norfolk and Suffolk.
The results speak for themselves. The outstanding lot of the day was a semi-detached 5 bedroom listed house on the Town Close Estate in the middle of Norwich being sold on behalf of Trustees at a guide price of £700,000 - £750,000, selling for £937,500.
Chartered Surveyor and Partner, Peter Hornor is looking forward to 2020 and is positive about markets throughout the price ranges. He comments that Auctions continue to work well for buyers and sellers alike due to the transactional speed and certainty that auction delivers and highlights some of the successes in 2019.
The March sale saw some £1.5M worth of property sold on the day, with highlights including a super cottage on the edge of Rackheath near Norwich, selling in excess of the reserve, together with a property in Bramerton in need of renovation which sold well at £310,000. A property in Newmarket Road in need of renovation equally sold in excess of the reserve price, being suitable for conversion or extension, subject to planning, and we were also delighted with the sale of a property in need of renovation in Colney on the edge in Norwich.
Our June auction saw some £2.5M worth of property sold under the hammer with some notable results including the sale of a property in Belaugh in Norfolk Broadland, which sold for £100,000 over the reserve.
Our September sale saw us realise some £2.3M worth of property on the day. Terraced houses in Norwich sold well and in particular a house in Albany Road in need of renovation sold for £137,500, some £25,000 over the reserve, whilst a similar property in Livingstone Street exceeded the reserve by some £20,000, selling at £147,000.
The firm was busy throughout 2019 and were delighted with the results. 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 2020 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 2019.
Brown&Co offer both off-line and online auction services, including the Modern Method of Auction. For more information about online auction contact: Martin Cunningham 01603 629871 email@example.com. For a personal, professional auction service contact 01603 629871 for free auction advice and appraisal.