Network Auctions finished the year on a high with their second largest ever sale raising a total of £5.5 million and a sales rate of 66 per cent at their 5th December ballroom sale held in the Westbury Hotel, Mayfair.
Despite having to change their auction date at the last minute due to the general election being called – and with just a week to go – bidders were out in force to snap up multiple lots under the hammer.
The sale featured a variety of lots across the country, but it was the receivership sale of plots of land from a former famous building company that attracted the most attention.
Toby Limbrick, Director, said: ‘This sale was our second biggest ever and we had a good turn out in the room and plenty of phone and online bidders. Investors are keen to make the most of the current situation and our land lots have proven extremely popular with both professional and new buyers to the auction room. We’re delighted we will be offering more of these lots in 2020.’
Highlights included freehold land of 2.2 acres in Leatherhead selling for 220 per cent above the guide of £20,000 to achieve a hammer price of £64,000.”