Strettons 29 October Property Auction Catalogue
Lockdown has thrown us all many challenges, and it has placed an imposition on our regular daily lives that is rarely seen outside of wartime. As we continue to fight through the worst of Coronavirus, now is a time for reflection on things we have learned. My team and I have been working remotely for the past six months. While we have gained much from our daily video meetings, not having to commute into the office each day and spending more time with our families, I know that we will all be delighted to be back at Strettons HQ on a day to day basis.
Coronavirus continues to dominate not only the front page of every national newspaper and website but so many aspects of the things we usually take for granted. As I write this, I am struck by how well so many businesses and individuals have adapted to the (to use a popular phrase) "New Normal". We have seen a change in attitude to home working and to how and when we commute to work, technological advances in video conferencing and other forms of communication. In the auction industry, we've seen welcome improvements to the use of live video streaming and internet bidding as well as changes how buyers register to bid at our auctions.
All of this gives me great hope for humanity. Even though the daily numbers of Coronavirus cases remains stubborn in its upward trend, it is our remarkable ability to adapt that will see us come through this crisis stronger and better prepared for the next. It's worth remembering that we have been running auctions since 1937, so in the last 83 years we have seen many trials and tribulations and still helped in navigating our clients through their property journeys with skill, professionalism and unrivalled levels of service.
Whilst we are still in unprecedented times, you can be assured that you and your property couldn't be in better hands. Our September auction was another great success with an excellent 86% of the lots offered being sold at a pleasing average of 19% over guide price and raising in excess of £16.5M for our clients. That represents our highest total raised since our sale in March 2008.
I think that if back in April someone had told me that, despite lockdown, we would have our best sale in over 12 years, I would've believed them mad! The standout lot for me was lot 1, a freehold vacant office and upper parts with development potential in Clapton that was offered with a guide price of £450,000 and sold for a very impressive £710,000, which I think once again answers any questions as to the health of the current property market.
Our October sale looks like it could be just as good, and I am thrilled that we have 52 varied lots for your consideration this month. We have an exciting selection of vacant and tenanted commercial and residential properties, land with and without planning and ground rent investments offered on behalf of The Court, receivers, charities, housing associations, property companies and individuals. We have some fascinating lots this month, including a former place of worship, an unbroken freehold of shops and flats producing over £521,000 of income a year and a 21 bedroom hotel. But with lots ranging from just £22,000 to over £7M, there is something for every pocket.
Our October sale will be live-streamed from 12pm on the day, and I should remind you that we will only be accepting remote bids. As with our September catalogue, we have added details of which auction surveyor is dealing with each lot on the catalogue listings. We have done this to make it easier for you to speak directly to the best-placed team member, who will answer all of your questions.
As ever, all our legal packs can be viewed online at our website and my team and I will be delighted to assist you with any enquiries that you may have in respect of remote bidding, so please feel free to get in touch. I hope that you can "virtually" join us on October 29th, but until then, may I wish you good luck and more importantly, good health!