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Wednesday 17th October saw our seventh Auction of the Year at the Hilton Hotel, Ageas Bowl. Whilst the wet weather appeared to have an affect on the overall attendance on the day, there was still an eager audience in anticipation of their intended ‘Lot’ Number.

This Auction saw a good cross section of properties across the Region, ranging from 2 bedroom Mid-Terraced houses in Portsmouth to a detached 3-bedroom Bungalow in Hythe.

We are pleased to report that an overall success rate of 67% was achieved, maintaining our healthy average year to date of over 70% sales to Lot ratio.

Now we move on to our final Auction of the Year on Wednesday 12th December, with a number of good quality instructions already secured, We look forward to seeing you there!

A character three bedroom semi-detached cottage set in the heart of the rural  village of Finchdean.  Outside the property has an enclosed front garden, rear  garden with workshop, timber shed, patio area and gardeners WC.

Guide Price        £275,000+ fees*

Location              Finchdean

Situated in a quiet cul-de-sac in the heart of the ever popular Old Portsmouth, this three bedroom terraced home benefits from having its own allocated  parking  space. In need of general modernisation and improvement.

Guide Price     £250,000 + fees*

Location           Old Portsmouth

An attractive double fronted chalet bungalow standing on a generous garden plot and has great potential for further modernisation and enlargement, subject to the necessary planning consents. In addition, the property has double glazing, gas fired central heating, front garden with driveway, garage and a generous rear garden.

Guide Price       £295,000 + fees*

Location            Fareham

A substantial detached period house on a good size plot with a detached  garage/annexe to the rear.  The property requires modernisation and refurbishment but offers tremendous potential for further extension subject to the usual consents. Most recently we understand the property has been used as an unlicensed HMO.

Guide Price      £365,000 + fees*

Location           Romsey

A rare opportunity to acquire this attractive Grade II listed period property and  valuable residential/commercial investment. Currently arranged as shop premises on the g/f and a self-contained two bedroom apartment on the f/f.  This prominent High Street house also has planning consent for full residential use for buyers wishing to return the property to a well-proportioned four bedroom character townhouse.

Guide Price      £375,000 + fees*

Location            Fareham

This three bedroom detached bungalow is situated on a reasonable plot and  benefits from double glazing, gas central heating and garage/workshop. Viewings by appointment.

Guide Price     £280,000+ fees*

Location           Hythe

This striking Victorian residence, available for the first time in over 60 years, is in need of modernisation throughout and retains many of its original period features typical of the era. Spacious rooms provide ample living space for a growing family and the property also boasts an impressive approx 80ft  rear garden facing in a southerly direction .

Guide Price     £430,000 + fees*

Location           Southsea

An outstanding opportunity to acquire a property for redevelopment located in one of the city’s premier residential locations. Planning permission granted for reconversion to a four bedroom family home.

Guide Price      £295,000 + fees*

Location            Southampton

This well presented one bedroom apartment is located in the popular residential area of Baffins, with double glazing, gas central heating.

Guide Price      £99,995  + fees*

Location           Portsmouth

A rare opportunity to acquire a single lock up garage with additional parking. Ideal for car or storage it measures 17’4 (5.3m) x 8’3 (2.5m), with metal up and over door. Being set well back from the road it has the benefit of a long concrete hard standing which is about 42′ (12.0m) in length, enough to accommodate 2/3 vehicles.

Guide Price       £10,000 + fees*

Location            Horndean

An investment opportunity exists to acquire  2 x 1 bedroom flats and a commercial unit.

Guide Price     £300,000 + fees*

Location           Shirley

An excellent opportunity to acquire this parcel of freehold land that extends to around 11 acres. Ideal for agricultural purposes and although it borders areas of residential development there is no planning consent with this particular lot.

Price Guide       £80,000 – £100,000 + fees*

Location            Isle of Wight

This purpose built one bedroom first floor retirement apartment is situated  within this popular development. The property has the benefit of an entrance which is used by only six apartments, secure intercom, emergency pull cord  system, communal laundry, guest suite and there is non-allocated parking and communal gardens.

Price Guide    £70,000 – £80,000 + fees*

Location          Fareham

This two bedroom terraced property in need of modernisation throughout is offered to the market with vacant possession and would make an ideal acquisition for an investor or someone looking to make a home of their own  whilst  also adding value.

Guide Price     £130,000 + fees*

Location         Portsmouth

Auction House – which has a branch in Hampshire – is reporting a significant rise in the number of entries into its September auctions.

Catalogues for the award-winning group’s sales during the month contain a total of 645 lots – which is over 100 up on last year.

Explaining the up-turn, Auctioneer Steve Sprake said: “More and more people are realising that auction is a speedier and more certain way to sell, enabling them to bypass the painful log-jams and delays so often associated with selling through estate agents. It is a proven and successful alternative that can deliver the best price in a short, defined timescale. Whilst some sellers may have taken a break over the summer months, they have now returned with renewed commitment.”

Auction House recorded steady results in August with 138 lots offered and 103 sold at a success rate of 75%, raising £11.6m. Dampened activity over the summer season left cumulative figures for the year a little behind 2016, but the totals are still impressive – with 2,668 lots offered, of which 2,009 sold, at a success rate of over 75% and raising £249m so far.

Steve Sprake says that the group is also seeing more lots being purchased with auction finance, as buyers make better use of their capital and acquire two or three properties with funding, rather than just one outright.

He explains: “Shrewd purchasers are searching out properties with potential in what is currently a buyer’s market with greater choice on offer. Even first time buyers are coming to auction, helped by the finance deals which are now available. And of course those buying to live rather than invest won’t be affected by the 3% extra stamp duty and tax changes facing landlords – so they are at a competitive advantage.

“Despite estate agency commentators reporting a worrying shortage of stock, we are offering a diverse mix of properties, which are keenly guided to generate interest and deliver sales. We are now into a busy autumn period, with a lot of properties being offered under the hammer, so there will be bargains around. In fact, a rise in auction activity could help boost the housing market in the final quarter of this year.”

The UK’s number one property auctioneer Auction House – which has a branch in Hampshire – has offered more lots so far this year than any other year up to August in the group’s ten-year history.

The multi-award winning auctioneer has offered a massive 2,533 auction lots so far this year (up from 2,480 in 2016) at 125 sales around the country, with a healthy success rate of 74.9%.

Commenting on the encouraging picture, Auctioneer Steve Sprake said: “These figures prove that auction properties are still in great demand and the appeal of auctions as the quickest method of sale is strengthening. Auctions have been less affected by the recent downturn than other sectors because they involve a faster process and their pricing better reflects market conditions.

“Whilst we have seen success rates drop slightly over the summer months as sentiment has declined, we still sold 361 lots in July alone, which takes our total number of sales this year up to 1,897. No other property auctioneer in the country can even approach these sorts of figures.”

Auction House has also noticed an increased number of former churches and chapels entered into its auctions, many of them with planning already in place. There have been ten across the UK so far this year – in Wales, Essex, Hampshire, Bedfordshire, and Cumbria, guided at prices from £15,000 to £200,000. Another three are coming under the hammer next month in Devon and West Yorkshire – including St Paul’s Church overlooking the town of Denholme on 6 September, being offered at a guide of £80,000 to £90,000.

Steve Sprake added: “The range of properties on our books is growing ever wider and the categories of buyers and sellers are diversifying too.

“Certainly we’re seeing more private sellers coming to us, attracted by the certainty of the auction process in a climate where chain transactions are the cause of so many problems and delays. This also means that many more ready buyers – including first timers – are now purchasing at auction using mortgages or specialist finance, and often buying for owner occupation.

“With this in mind, we expect activity levels to rise again from the autumn.”

Once again there is a varied selection of lots available for our 5th auction of 2017.
Whilst it is not unusual to have a parking space to offer, something in the heart of Winchester is a
rarity indeed. There is a freehold site in Portsmouth with ground rent investments and development
opportunities, plus a substantial vacant commercial premises in Fareham town centre.
Two of the larger houses have been let on a multiple occupancy basis which provides a good return and
the three semis in the Southampton area all guided at £180,000 are suitable for home or investment.
The flat on the Isle of Wight is nicely presented and comes with a long lease. Easy living and a perfect
home for the family is the detached house in Bartlett Close. If you fancy something to do up then the
older style semi in Barnham which is close to the station is worth a look as there is plenty of scope
to extend.
There are two superb detached houses both on large plots and in semi rural settings. One is an unfinished project whilst the other is in need of updating.
Our August catalogue is also available from our website and please let us know in advance of the auction if there is anything that you would like to view and I hope to see you on Wednesday 30th August.
Steve Sprake FNAEA, Auctioneer

Here’s a helpful auction link to help you for this Wednesday

http://www.rightmove.co.uk/news/five-golden-auction-rules 

We’re LIVE on Ei Group!!

Please register your interest to ensure you receive the legal packs when they are ready, follow the instructions below:-

1. pearsonsauctions.com
2. Click ‘For Sale’ tab (at the top of the screen)
3. Click on one of the properties in the ‘Property For Sale’ screen
4. On the right hand side, in a grey box, at the bottom, click ‘Legal Docs’ which will re-direct you to EI Group website
5. Click on Lot 1 (or relevant number)
6. You will be asked to register (you only need to do this once and you don’t have to pay a fee)
7. Legal Documentation is then available for downloading

Pearsons Property and Land Auctioneers in association with Auction House UK have achieved a record breaking new high from their first auction of 2016.  There were a pick of properties on offer ranging from commercial premises, flats and maisonettes to detached houses and bungalows, and a three storey townhouse with mooring.  Although the action in the auction room was quieter than previous years with bidding moving slowly on the day, Pearsons were able to sell 50% of the stock in the room and 30% post-auction raising the total sales to just under £2,500,000.

Steve Sprake, Pearsons Auctioneer said: “I was excited about our first auction of 2016 as it was my first time taking to the podium solo after a brief appearance at the end of the auction last December.  I was keen to deliver a good service to all our clients and wanted to make my team and company proud.  I am very pleased with the outcome and shocked to have achieved such a groundbreaking result my first time out the gate.”

He added; “While many feel the market may suffer with the pending changes to stamp duty tax I strongly believe the transparency that auctions provide will always be an appealing factor to buyers and sellers.”

In July 2014 Pearsons Auctions total sales reached just over £2,000,000 but this new figure shows that the auction market is not slowing down despite what changes may be implemented in April.

When asked how he felt looking ahead at 2016 Steve added: “I am eager to continue this trend with the six remaining auctions we have this year, the next one set for April.  As always my focus is to achieve the best possible price for our clients and will continue to do so in and out of the auction room.”

After the success of our Property Auction this week our flat in West Street, Fareham is surprisingly still available.

An incredibly spacious 3 bed maisonette split onto two floors this property offers great scope to improve and would be an ideal rental due to its central location.

Please call our Auction Department for further details or to arrange a viewing on 023 8047 4274.

For Sale by Auction on Wednesday 17th February 2016
starting at 11am
Hilton Hotel Ageas Bowl, Botley Road, West End, Southampton, SO30 3XH

Meadowbank Road, Fareham, PO15 5LF
Auction Guide Price £160,000

Viewing date scheduled for Friday 12th February between 12noon-1pm

An ideal opportunity to purchase a detached bungalow with a regulated tenant who has been in residence since 1989. The property briefly consists of an entrance hall, lounge, two bedrooms, kitchen, bathroom and lean-to extension. Off road parking is available to the front and rear, whilst a shared driveway runs alongside the property providing access to the GARAGE. There is an attractive rear garden mainly laid to lawn.

To secure a viewing time slots on the above date
please contact Pearsons Fareham on 01329 288241