Investors compete for the best addresses at auction

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30 Oct 2015

Investors compete for the best addresses

Author: Simon Clayton

St Leonards Road, WindsorHundreds of buyers crowded into Romans’ sale room on 28th October at the Green Park Conference Centre in Reading to witness a catalogue of interesting and rare lots being sold.

Romans’ latest auction proved yet again to be highly successful, with a packed sale room and 100% of the lots selling at or above their guide prices - some for significantly higher prices than their reserves.

Simon Clayton, Romans’ Auctions Director, comments: “We experienced some fierce bidding wars, specifically for the lots located in property hotspots, such as Farnham, Windsor, Camberley and Sunbury-on-Thames. These properties attracted comprehensive interest from investors looking for a safe haven for their money.”

Star lots on the day included 245 St Leonards Road in Windsor; a vacant two bedroom period terraced house situated in a prime location near the town centre. Although the property requires some renovation it attracted a lot of interest from bidders who could see its potential. The house eventually sold for an outstanding figure of £439,000, from a guide price of £390,000.

An attractive three bedroom semi-detached property on Ashridge Way in Sunbury-on-Thames sold for £222,000; an astonishing 81% more than its guide price. And a fully let freehold mixed use investment on Victoria Road in Aldershot sold for £205,000; £35,000 more than its guide price.

Ashridge Way, Sunbury-on-ThamesAnother anticipated lot was 16 Old Church Lane in Farnham which actually sold prior to the auction for significantly higher than its reserve price of £620,000. The vacant detached period house is set in gardens of over ½ acre and was sold with planning permission to demolish and build a stunning architect designed home - so it’s no wonder this property was snapped up before the day of the auction itself!

“We have achieved some very encouraging prices” adds Simon, “and with indicators showing that house prices have risen significantly in many areas this year, investment buyers are feeling more confident and are prepared to bid very competitively for the best lots.

“We are now inviting entries for our last auction of the year on 9th December, which provides sellers with adequate time to complete their sales before the New Year. We have already received instructions on a number of very unique lots.”

To see all of the details and results for the properties sold in Romans’ October auction visit: romans.co.uk/auctions

If you are thinking of selling your property Romans is still inviting entries for its final auction of the year on 9th December. Call the team to see if selling by auction would be the best method for your property on 01344 988 728 or email auctions@romans.co.uk.

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