SVA Property Auctions, Scotland’s independent property auction company, achieved 100% success for its May auction with all 14 lots being sold, nine of which were bought on the day under the hammer, in real time.
One lot, a partly constructed factory building in Arbroath sold for five times guide price.
Shaun Vigers, SVA director and auctioneer, said: “Our vendors and buyers are continuing to embrace the live streamed auction process but we did notice this month that people are perhaps pausing to draw breath a little. We have seen a bit more restraint for the more completely speculative opportunities whilst properties ripe for an obvious re-development continue to command good prices.”
A case in point was certainly the sale of the former Perimax building on the Kirkton Industrial Estate in Arbroath, a partly constructed factory/warehouse buildings with offices, extending over 2,539 square metres on a site of 2.1 acres. The lot, with clear re-development potential, sold for £296,000, five times the guide price, after very competitive bidding late in the sale.
Another auction highlight was the sale of the former Tarbolton Clinic on Montgomerie Street with parking at the front and a small area of undeveloped ground at the rear. Guided at £30,000, the lot attracted 10 registered bidding parties and eventually sold for £87,500.
Its June auction saw a development site with previous consent for 37 houses, abandoned offices and a former pumping station go under the hammer.