FG Online Auctions 2020 Update

ONLINE AUCTIONS 2021 Update

fishergerman.co.uk

Case studies

41 Chelford Road – Guide £245,000 Sold £461,000 Fisher German were instructed to sell on behalf of the Executors of a deceased Estate and, due to the unique nature of the property, an online auction was recommended due to the transparency, security and certainty of the process.

Prior to the auction, the beneficial interest of the property was assigned to a charity. The property was marketed for a three week period, generating huge excitement with 43 viewings undertaken. When the timer finally hit zero, the winning bid was £461,000, a massive 88% over the guide price, which far exceeded not only our expectations but also those of the clients.

Demi Willner, Chester

6.7 acres of land at Bevercotes – Guide £42,500 Sold £195,000 Our corporate client instructed us to sell land which had become surplus to requirements. As a charity, they needed to sell in the most open and transparent way possible. The client had already identified two potential purchasers and wanted to ensure a fair sale and a Guide price of £42,500 was agreed upon. The online auction ran for 3 weeks and the timer finally went to zero with a sale price of £195,000 far exceeding all expectations.

Laura Carr, Doncaster

We are pleased to provide an update on the Online Auction market featuring a selection of sales from across our residential, rural, commercial and development sectors covering the whole of the UK. • F isher German has always been a pioneer when it comes to advising our clients on new ways to sell assets • W e introduced the online auction platform a few years ago to be an early adopter of this new technology, and the events of 2020 have proven its value immensely with a significant acceleration in the number of clients choosing to sell by online auction • W hether it be a residential property, a parcel of land or redundant building, the online auction can be an ideal way to dispose of an asset in a quick and transparent way • F or public bodies or charitable institutions, this transparency is key to demonstrating that best value has been achieved • A s lawyers are weighed down with excessive workloads, sales agreed under the more traditional Private

Treaty route are typically taking upwards of 3 months to go through • The attraction of the online auction is that when the timer runs out and all bidding has been concluded, that is the legally binding exchange of contracts • We have already seen some impressive sales online this year, achieving on average 23% above the asking price – as the two Case Studies opposite highlight, more spectacular results have been achieved for some So, for many clients, the ability to achieve a timely sale with some certainty is a significant attraction.

And for buyers, the benefits are also clear: • All the legal information is provided up front and advice from a lawyer sought prior to bidding

• B ids are placed on your computer or mobile device from the comfort of your home allowing you time to discuss your next bid with family, friends and advisors • … ..and when the timer goes to zero, you’ve exchanged contracts to purchase your property!

If you would like some advice on online auctions, do get in touch with Tom Dennes, Associate Director in the Banbury office who is the national lead for online auctions at Fisher German.

Tom Dennes Associate Director 07587 033061 tom.dennes@fishergerman.co.uk auctions@fishergerman.co.uk

Lea Marston, Sutton Coldfield

AVAILABLE

AVAILABLE

Stainsby, Heath, Chesterfield

A smallholding with a cottage in need of total refurbishment, outbuildings and about 7.35 acres of land.

A former village school, offering great potential and being situated on the edge of the village with rural views.

£

£

Guide price: £450,000 October 2021

Melbourne, Derby

Residential

Guide price: £160,000 October 2021

AVAILABLE

About 0.94 acres of predominantly grassland.

£

£

October 2021

Bloxham, Oxfordshire

Rural

AVAILABLE

Jeffcoats Lane, Swannington

Approx 14.33 acres (5.80 hectares) in two enclosures, available as a whole, and having views towards Staunton Harold Reservoir.

Guide price: £165,000

Commercial

Guide price: £12,000

Rural

October 2021

SOLD

SOLD

Kidderminster, Worcestershire

A semi-detached period cottage with planning permission for side and rear extensions, plus garage, to become 3 beds 2 baths.

Retail investment opportunity of c. 8,093 sq ft.

£

Guide price: £250,000

£

Guide price: £185,000

£

Sold price £261,000

£

Sold price: £335,000

Residential

Commercial

Toddington, Gloucestershire

SOLD

Astwith, Derbyshire

SOLD

Barn with Class Q consent for conversion to residential near Toddington.

A wonderful opportunity to acquire a charming cottage in need of total renovation, with outbuildings and land, with views to Hardwick Hall.

£

Guide price: £250,000

£

Guide price: £290,000

£

Sold price: £250,000

£

Sold price: £472,500

Testworth, Oxfordshire

Residential

SOLD

Gresford, Cheshire

Residential

SOLD

A stunning 3 bedroom period cottage situated in the popular village of Testworth.

An attractive Georgian property with large gardens, rural views with scope for improvement.

£

Guide price: £285,000

£

Guide price: £250,000

£

Sold price: £290,000

£

Sold price: £410,000

Farndon, Cheshire

Residential

SOLD

Malvern, Worcestershire

Residential

SOLD

A traditional Cheshire brick-built end terrace cottage, along with a large adjoining plot for 1 residential dwelling, in all 0.5 acres.

A detached 2 bed bungalow situated in a sought after rural location, with views and fantastic renovation and redevelopment potential.

£

Guide price: £425,000

£

Guide price: £295,000

£

Sold price: £580,000

£

Sold price: £349,000

Residential

Residential

SOLD

Hunt End, Worcestershire

SOLD

Chesham, Buckinghamshire

Approximately 20.76 acres of land, Hunt End Redditch.

A block of flexible amenity land extending to 14.97 acres.

£

Guide price: £125,000

£

Guide price: £165,000

£

Sold price: £170,000

£

Sold price: £231,000

Retford, Nottinghamshire

Rural

SOLD

6.7 acres of land at Bevercotes, Bothamsall.

£

Guide price: £42,500

£

Sold price: £195,000

Dudley, West Midlands

Guide price: £100,000

£

Sold price: £110,500

SOLD

Northwich, Cheshire 3.2 acres of land at Forest Hill, Northwich.

Rural

£

Guide price: £37,500

£

Sold price: £63,500

SOLD

Development land at Dibdale Street, Dudley.

£

Rural

Rural

SOLD

Fernhill Heath, Worcestershire An opportunity to build an individual 2 bedroom detached property.

Development

£

Guide price: £135,000

£

Sold price: £136,000

Development

1

Ashby de la Zouch

2

Banbury

3

Bedford

4

Birmingham

5

Canterbury

6

Chester

7

Cwmbran

8

Doncaster

9

Exeter

10

Glasgow

11

Head Office

12

Hereford

13

High Wycombe

14

10

19

20

21 22

Hungerford

15

Knutsford

16

London

17

Market Harborough

18

Newark

19

Newcastle

20

Richmond

21

Rossendale

22

Rotherham

23

Stafford

24

Southampton

25

Thame

26

Worcester

8

15 6

18

23

1 11 17

4 26 12

3

2 25

7 14

13

16 5

24 9

Our nationwide office network

Online Auction Benefits Our dynamic online auction system is an innovative way to buy and sell property outside of the traditional auction room. With all the advantages of a conventional auction, the online platform offers so much more with a new level of flexibility to both buyers and sellers whilst retaining the transparency and certainty attributed to the auction process.

Over 80% of property purchasers start their search online, now they can buy online too.

Flexibility

Commitment

Focus

Competitive

You decide when to sell making it much easier to plan the transaction

A less pressurised environment than a public auction, encouraging buyers to participate

Concentrated periods of promotion with demand from motivated cash buyers

The ultimate open market test to create the maximum sale price

Security

Exposure

Certainty

Transparency

All buyers have ID verification and are approved to bid

Comprehensive marketing campaigns

Legally binding exchange occurs online and deposit paid

A highly visible process for buyer and seller

fishergerman.co.uk auctions@fishergerman.co.uk