First auction of 2016 is a success

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25 Feb 2016

Romans’ first auction of the year is a success

Author: Simon Clayton

Kensington Road, ReadingRomans’ first property auction of the year saw hundreds of buyers attend the Green Park Conference Centre in Reading to witness a catalogue of interesting and rare lots being sold.

“This was a terrific start to the year with 86% of the lots selling; a majority for significantly higher prices than their reserves” comments Simon Clayton, Romans’ Auctions Director.

Two of the most popular lots on the day were both in Reading; an attractive vacant Victorian terraced house on Wokingham Road sold for £61,000 above its guide price following a fierce bidding war, and another terraced property on Kensington Road requiring modernisation sold for £240,000 from a guide price of £205,000.

Another sought-after property offering fantastic potential was a three bedroom semi-detached house on Alma Road in Windsor with planning permission for a two storey rear extension, which sold for £475,000.

“We knew this lot would be popular” Simon comments, “it’s in an extremely desirable location close to Windsor town centre and with planning permission already granted it was a great purchase for a developer, investor or owner occupier.”

Over in Wokingham a vacant three bedroom semi-detached house on Waterloo Crescent, which has been partly refurbished and requires completion, sold for £352,000, an impressive £42,000 more than its guide price.

A commercial property in Aldershot encouraged another bidding war; the light industrial unit on Upper Elms Road sold for £226,000, almost double its guide price of £120,000.

To see all of the results from Romans’ February auction visit: romans.co.uk/auctions/results.

“We are now inviting entries for our second auction of the year on 23rd March, and with many investors actively looking to purchase more properties this could be a great time to sell” adds Simon.

Contact the team to see if selling by auction would be the best method for your property on 01344 988 728 or auctions@romans.co.uk, or visit romans.co.uk/auctions

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