ONLINE AUCTIONS 2021 Update
fishergerman.co.uk
Case studies
41 Chelford Road – Guide £245,000 Sold £461,000 Fisher German were instructed to sell on behalf of the Executors of a deceased Estate and, due to the unique nature of the property, an online auction was recommended due to the transparency, security and certainty of the process. Prior to the auction, the beneficial interest of the property was assigned to a charity. The property was marketed for a three week period, generating huge excitement with 43 viewings undertaken. When the timer finally hit zero, the winning bid was £461,000, a massive 88% over the guide price, which far exceeded not only our expectations but also those of the clients. Demi Willner, Chester
6.7 acres of land at Bevercotes – Guide £42,500 Sold £195,000 Our corporate client instructed us to sell land which had become surplus to requirements. As a charity, they needed to sell in the most open and transparent way possible. The client had already identified two potential purchasers and wanted to ensure a fair sale and a Guide price of £42,500 was agreed upon. The online auction ran for 3 weeks and the timer finally went to zero with a sale price of £195,000 far exceeding all expectations. Laura Carr, Doncaster
We are pleased to provide an update on the Online Auction market featuring a selection of sales from across our residential, rural, commercial and development sectors covering the whole of the UK. • F isher German has always been a pioneer when it comes to advising our clients on new ways to sell assets • W e introduced the online auction platform a few years ago to be an early adopter of this new technology, and the events of 2020 have proven its value immensely with a significant acceleration in the number of clients choosing to sell by online auction • W hether it be a residential property, a parcel of land or redundant building, the online auction can be an ideal way to dispose of an asset in a quick and transparent way • F or public bodies or charitable institutions, this transparency is key to demonstrating that best value has been achieved • A s lawyers are weighed down with excessive workloads, sales agreed under the more traditional Private
Treaty route are typically taking upwards of 3 months to go through • The attraction of the online auction is that when the timer runs out and all bidding has been concluded, that is the legally binding exchange of contracts • We have already seen some impressive sales online this year, achieving on average 23% above the asking price – as the two Case Studies opposite highlight, more spectacular results have been achieved for some So, for many clients, the ability to achieve a timely sale with some certainty is a significant attraction. And for buyers, the benefits are also clear: • All the legal information is provided up front and advice from a lawyer sought prior to bidding
• B ids are placed on your computer or mobile device from the comfort of your home allowing you time to discuss your next bid with family, friends and advisors • … ..and when the timer goes to zero, you’ve exchanged contracts to purchase your property! If you would like some advice on online auctions, do get in touch with Tom Dennes, Associate Director in the Banbury office who is the national lead for online auctions at Fisher German.
Tom Dennes Associate Director 07587 033061 tom.dennes@fishergerman.co.uk auctions@fishergerman.co.uk
Lea Marston, Sutton Coldfield
AVAILABLE
AVAILABLE
Stainsby, Heath, Chesterfield
A smallholding with a cottage in need of total refurbishment, outbuildings and about 7.35 acres of land.
A former village school, offering great potential and being situated on the edge of the village with rural views.
£
£
Guide price: £450,000 October 2021
Melbourne, Derby
Residential
Guide price: £160,000 October 2021
AVAILABLE
About 0.94 acres of predominantly grassland.
£
£
October 2021
Bloxham, Oxfordshire
Rural
AVAILABLE
Jeffcoats Lane, Swannington
Approx 14.33 acres (5.80 hectares) in two enclosures, available as a whole, and having views towards Staunton Harold Reservoir. Guide price: £165,000
Commercial
Guide price: £12,000
Rural
October 2021
SOLD
SOLD
Kidderminster, Worcestershire
A semi-detached period cottage with planning permission for side and rear extensions, plus garage, to become 3 beds 2 baths.
Retail investment opportunity of c. 8,093 sq ft.
£
Guide price: £250,000
£
Guide price: £185,000
£
Sold price £261,000
£
Sold price: £335,000
Residential
Commercial
Toddington, Gloucestershire
SOLD
Astwith, Derbyshire
SOLD
Barn with Class Q consent for conversion to residential near Toddington.
A wonderful opportunity to acquire a charming cottage in need of total renovation, with outbuildings and land, with views to Hardwick Hall.
£
Guide price: £250,000
£
Guide price: £290,000
£
Sold price: £250,000
£
Sold price: £472,500
Testworth, Oxfordshire
Residential
SOLD
Gresford, Cheshire
Residential
SOLD
A stunning 3 bedroom period cottage situated in the popular village of Testworth.
An attractive Georgian property with large gardens, rural views with scope for improvement.
£
Guide price: £285,000
£
Guide price: £250,000
£
Sold price: £290,000
£
Sold price: £410,000
Farndon, Cheshire
Residential
SOLD
Malvern, Worcestershire
Residential
SOLD
A traditional Cheshire brick-built end terrace cottage, along with a large adjoining plot for 1 residential dwelling, in all 0.5 acres.
A detached 2 bed bungalow situated in a sought after rural location, with views and fantastic renovation and redevelopment potential.
£
Guide price: £425,000
£
Guide price: £295,000
£
Sold price: £580,000
£
Sold price: £349,000
Residential
Residential
SOLD
Hunt End, Worcestershire
SOLD
Chesham, Buckinghamshire
Approximately 20.76 acres of land, Hunt End Redditch.
A block of flexible amenity land extending to 14.97 acres.
£
Guide price: £125,000
£
Guide price: £165,000
£
Sold price: £170,000
£
Sold price: £231,000
Retford, Nottinghamshire
Rural
SOLD
6.7 acres of land at Bevercotes, Bothamsall.
£
Guide price: £42,500
£
Sold price: £195,000
Dudley, West Midlands
Guide price: £100,000
£
Sold price: £110,500
SOLD
Northwich, Cheshire 3.2 acres of land at Forest Hill, Northwich.
Rural
£
Guide price: £37,500
£
Sold price: £63,500
SOLD
Development land at Dibdale Street, Dudley.
£
Rural
Rural
SOLD
Fernhill Heath, Worcestershire An opportunity to build an individual 2 bedroom detached property.
Development
£
Guide price: £135,000
£
Sold price: £136,000
Development
1
Ashby de la Zouch
2
Banbury
3
Bedford
4
Birmingham
5
Canterbury
6
Chester
7
Cwmbran
8
Doncaster
9
Exeter
10
Glasgow
11
Head Office
12
Hereford
13
High Wycombe
14
10
19
20
21 22
Hungerford
15
Knutsford
16
London
17
Market Harborough
18
Newark
19
Newcastle
20
Richmond
21
Rossendale
22
Rotherham
23
Stafford
24
Southampton
25
Thame
26
Worcester
8
15 6
18
23
1 11 17
4 26 12
3
2 25
7 14
13
16 5
24 9
Our nationwide office network
Online Auction Benefits Our dynamic online auction system is an innovative way to buy and sell property outside of the traditional auction room. With all the advantages of a conventional auction, the online platform offers so much more with a new level of flexibility to both buyers and sellers whilst retaining the transparency and certainty attributed to the auction process. Over 80% of property purchasers start their search online, now they can buy online too.
Flexibility
Commitment
Focus
Competitive
You decide when to sell making it much easier to plan the transaction
A less pressurised environment than a public auction, encouraging buyers to participate
Concentrated periods of promotion with demand from motivated cash buyers
The ultimate open market test to create the maximum sale price
Security
Exposure
Certainty
Transparency
All buyers have ID verification and are approved to bid
Comprehensive marketing campaigns
Legally binding exchange occurs online and deposit paid
A highly visible process for buyer and seller
fishergerman.co.uk auctions@fishergerman.co.uk