Leicestershire Builder Magazine

Savills continues auction success with lots totalling £2.8million
Savills early results posted an 85% success rate at one of its biggest sales in Nottingham for some time.
The residential and commercial property auction was held at The Nottingham Racecourse on Thursday 25 March. In total the sale realised just shy of £3million for Savills clients, bringing a total of £2.845million from 37 lots listed.
Chris Charlton, auctioneer for the Savills team, commented It’s a real thrill to see the momentum maintained within the auction market in the area. We had a wide range of properties both in terms of style and opportunity. The Savills Nottingham Auction team also has a good relationship with fellow property firms in the area, with joint agency lots from Nattrass Giles, Royston & Lund and Mitchell Dodd Surveyors.
Properties were also offered on behalf of Miller Homes, Cooper Parry, The Regus Group PLC and Harris Balcombe LLP as well as other regional Savills offices.
It was pleasing to see raw development opportunities raising considerable interest and one of the star lots on offer which was sold was the former Kelham Brickworks at Kelham near Newark (pictured right) which created significant interest with consent for conversion to a separate individual dwelling and realised £188,000 on the day with strong bidding from a number of interested parties.
Paul Giles of the Commercial Auction Team commented that the room was even more packed than for the January sale and there were so many people that it was sometimes hard to see who was bidding and good again to see multiple hands being raised so that our auctioneer had a choice of bidders on many of the lots offered.
The increasing availability of finance combined with continued poor returns for those with cash or equity and improving outlooks for both commercial and residential property have meant an increase in demand in all sectors of property suitable for auction.