Fisher German have held another successful property auction in Banbury and despite the current climate still managed to maintain their 75% success rate. After a number of lots were either withdrawn or sold before the auction, only 8 of the original 13 were offered but 6 of these sold - some exceeding expectations.
Auctioneer, Andrew Ranson says: “We were well pleased with the results, particularly the 3 residential properties offered which all sold. Two of these were offered on the new 'Conditional Auction' basis.”
The first of these was a house at Bretch Hill, Banbury, in need of refurbishment. It was guided at £100,000 and sold for £124,000.
The second was a bungalow in Greatworth, set in a private location down a drive, next to the Church. This was guided at £325,000 and after competitive bidding, sold for £356,000.
Mr Ranson continues: “One of the vendors is an estate agent herself and knowing how tough it is to exchange contracts in the current market, told us afterwards that she was very impressed with the auction process and the price it had achieved for them. Auctions are a growing part of our business and we have offered and sold double the number of properties we offered in 2007. We are delighted that some purchasers, who have not previously looked at auctions, are getting their minds around them and seeing the advantages.”
Other lots that sold well included two blocks of amenity land, one near Maidford and one near Kings Sutton, making £31,000 and £46,000 respectively, and a block of 42.5 acres of mainly arable land which sold for £244,000 (£5,740 /acre).
The two lots which remain available are a 20.5 acre field at Tiffield near Towcester with a guide of £130,000 and a 4 acre block of amenity land next to 4 cottage near Kings Sutton with a guide of £40,000.
Entries are now being taken for Fisher German’s next auction at the end of January.
Please contact Andrew Ranson on 01295 271555 email andrew.ranson@fishergerman.co.uk
