100% Success Rate at Uttoxeter Auction

12th April 2018

Uttoxeter Land and Property Auction Report

If there appeared to be fewer people about in Uttoxeter on Wednesday 28th March this may be because many of them were at Bagshaw’s auction at the Racecourse.

With complimentary beverages available for those in need on what proved a pleasant Spring day, there was a distinct “buzz” in the room as it filled and soon began overflowing. Whilst there was a degree of excitement, there were also a number of nervous potential buyers and, vendors waiting for the start of the auctions. There were in fact, two auctions, the first being a grass keep sale (letting of agricultural land) and the second, a property sale.

The first generated a bout of rapid and subtle bidding with prices being realised between £85 and 90 and peaking at £116 per acre. As this auction concluded and successful bidders proceeded with signing the relevant paperwork, the property auction took form.

With the room still full, and warming up, the first lot for sale was a single building plot in Branston, Burton, guided at £60,000 to £80,000, concluding at £105,000. The second lot, a dilapidated cottage in 1.4 acres, attracted a bidding frenzy with the hammer eventually falling at a figure of £282,000 which was considerably over the guide of £180,000 – £220,000. The next three lots all sold at the top end of their guide prices and above with the last lot, a single building plot in Colton, realising a figure 10% above the guide price.

In all, this was considered a very successful and well attended auction revealing that there is an obvious degree of confidence in the property market.

Bagshaw’s next auction at Uttoxeter takes place on Wednesday 13th June and there is still plenty of time to include additional lots. If you think your property or land might be suitable for auction or if you would like some free, confidential advice about the buying process, please contact a member of our team on 01889 562811 or visit www.bagshaws.com/property-auctions.