The chance to complete before Christmas
National Property Auction
Thursday 27th October 2022 at 10:00am
Addendum
You can find the addendum for this month’s auction by taking a look at the link below.
The addendum is where you can find any last minute updates or changes to the lots on offer – it can change at any time, including on auction day itself, so if you’re bidding on Thursday, make sure to regularly check back to stay in the know.
Welcome to your October
auction catalogue
Andrew Parker
Managing Director & Auctioneer at
SDL Property Auctions
It’s my pleasure to launch the catalogue for our October National Property Auction, taking place on Thursday 27th October– with over 155 lots featuring this month.
We have another great selection of properties in October’s catalogue. This month features stunning family homes, renovation projects for all buyers and budgets, listed buildings and even water towers.
With plenty of properties for you to browse through this month, simply use the view all lots button at the end of this section to see the full range of over 155 properties on offer.
A truly unique opportunity will be going under the hammer this month on Merseyside. Everton Water Tower is a well-known landmark on the Liverpool skyline and dates back to 1857, having been designed by Thomas Duncan. It has now gained planning permission and listed building consent for redevelopment to both residential and leisure accommodation, including luxury serviced apartments and events space. It’s also aptly placed, with great public transport access to the city centre, as well as being a short walk away from both Anfield and Goodison Park football stadiums. With a guide price of £150,000+ plus fees, this is sure to be popular with local developers.
Lot 117
- Everton Water Tower, Margaret Street, Liverpool L6 2HW
- Guide price*
- £150,000+ (plus fees)
For developers in the Midlands, another sizable project is located in Nottinghamshire, where the Former Pinxton Youth Centre is being offered for sale at a guide price of £170,000+ plus fees. The space may be suitable for a variety of alternative uses, such as residential, office or leisure, owing to its central location within the local community. Any interested parties should make their own independent enquiries regarding potential uses prior to bidding. The site’s area extends to 1608.9 sq. metres, giving ample room for development, subject to the necessary consents being obtained.
Lot 3
- Former Pinxton Youth Centre, Kirkstead Road, Pinxton, Nottingham NG16 6NA
- Guide price*
- £170,000+ (plus fees)
For anyone looking for a project that’s full of character, 7 King Street in Sileby, Leicestershire could be just what the doctor ordered. This is a handsome Grade II listed farm house which benefits from planning permission and listed building consent to be split into two dwellings. The property itself is in need of upgrading, with the plans approving the creation of 1x three bedroom house and 1x two bedroom house, each with their own garden, parking and bike store. Anyone interested in this project should be sure to register to bid, with the property having a guide price of £200,000+ plus fees.
Lot 21
- 7 King Street, Sileby, Loughborough, Leicestershire LE12 7LZ
- Guide price*
- £200,000+ (plus fees)
There’s another lucrative opportunity in Reading, as 54 St. Johns Road comes to auction. This is rare opportunity to acquire a four bedroom Victoria semi-detached home on one of Mortimer’s most sought after roads. The house, while in need of modernisation throughout (including heating system), holds huge potential. This includes the possibility to extend the property with a single storey ground floor extension (subject to the appropriate consents being obtained). With a guide price of £500,000+ plus fees, this has great scope to become a beautiful family home.
Lot 97
- 54 St. Johns Road, Mortimer Common, Reading RG7 3TR
- Guide price*
- £500,000+ (plus fees)
If you’re interested in bidding in this month’s auction, you will need to register before midday on Wednesday 26th October – to do so, simply head to our quick and easy online form here. It’ll take no more than a few minutes to complete and costs nothing to sign up.
There’s also a handy guide below which takes you through all our remote bidding options: online, on the phone and by proxy, so that you can bid in the way that you’re most comfortable with.
Our next National Property Auction takes place on Thursday 24th November. If you’re interested in selling by auction, take a look at our frequently asked questions below or contact our friendly team on 0800 046 5454.
Frequently asked questions
Over the past few months we have naturally received some questions from our bidders about how the buying process works. Largely we are operating as we always have been, we’re simply not able to see you in the auction room when you bid. We’ve put together these frequently asked questions to help guide you through your auction purchase.
A reserve price is the price stated as the lowest acceptable figure by the seller. This figure is confidential between the seller and auctioneer.
No, not always. The guide is an indication given by the auctioneer. Where the guide price is a bracket figure, the reserve cannot exceed the top end of the bracket price. If the guide price is a single figure, then the reserve can be up to 10% in excess of this.
After the auction has ended one of our team will contact you to advise you of the result.
Yes, and these vary depending on the method of sale associated with the property and the country in which you are purchasing. These are listed below – please note the reservation fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price will be included within the Special Conditions that are attached to the Contract. Therefore all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable.
England and Wales
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Reservation Fee is subject to a minimum of £6,000.
Scotland
Unconditional with Fixed Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1,074, and completion must take place within 20 business days, unless the Special Conditions of Sale state otherwise.
Unconditional with Variable Fee: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.
Conditional with Reservation Fee: On the fall of the hammer, the successful bidder will enter into a Reservation Agreement with the seller and be granted an exclusivity period of 40 business days to purchase the property (unless the Special Conditions of Sale specify a different timescale). The successful bidder must use the exclusivity period to proceed to exchange of contracts and complete the purchase. On the fall of the hammer, the successful bidder must immediately pay a non-refundable Reservation Fee of 3.6% of the final sale price of the property, subject to a minimum of £4,000.
There are a number of options when selling by auction which can include paying no fees at all and having the buyer an additional fee instead.This is often an attractive option when you are selling due to a bereavement or a divorce and you have limited cash prior to the auction to fund the sale. Alternatively as a seller you can pay an initial fee and commission price for the sale of the property, meaning the buyer doesn’t have to pay anything extra, maximising the final sale price of the property
Regardless of which auction route is selected, there are solicitor fees to prepare the legal pack for your property, which typically costs around £350 to £500. After your home is sold, you will also need to instruct a solicitor for the conveyancing of the property, which can cost anywhere from £450 to £750.
Yes, if a reserve price is not met during the bidding process, then the lot will not sell. We continue to market our unsold properties after the auction and if a post-auction sale is agreed it will be carried out under auction conditions.
Bidding registration
Bidding registration closes at midday the day before the auction.
Registering to bid in one of our National Property Auctions is quick, easy and painless. By completing our online form, you can register for bidding online, on the phone and by proxy, meaning you can bid from the comfort of your own home. There’s no need to wait for the legal pack to be completed before registering, there’s no obligation to bid on the day and there’s no money taken prior to bidding.
An uncertain market
on the horizon? Not
a problem at auction
At the time of writing, it has not long been announced that the economy unexpectedly contracted by 0.3% in August, and the IMF warning that for most of us, 2023 will feel as though we are in a recession.
Whether this has been fuelled by the government’s ‘mini-budget’, the ongoing conflict in Ukraine, Brexit, the rise in the cost of living or a combination of them all is anyone’s guess – but it has left some wondering what this could mean for the housing market.
Typically in a recession, house prices tend to fall as the economy shrinks. There can also be job and income losses, and people tend to think more carefully about making a significant purchase such as a house. While this can cause issues for sellers, it is often a time in which first time buyers try to get onto the ladder, as lower prices can (but not always) make it easier to do so.
However, before we get all doom-and-gloom about the next few months, it’s important to remember we are not yet technically in a recession. There is still high buyer and renter demand (a lingering effect from the pandemic) and asking prices are still at record highs. The market is still moving and open for business, and mortgages are still being approved.
That being said, should there be any further economic shift in the market, SDL Property Auctions are here to help. The typical advice during any economic downturn for sellers is ‘do you need to sell?’ – similar to the advice given to homeowners during those early months of the pandemic in 2020. We know however, that sometimes, regardless of the wider circumstances, that answer is a resounding yes.
The beauty of a sale by auction is that when the hammer falls, the sale is secure and can complete in as little as 15 working days. Property sales on the open market are at increased risk of falling through during an economic downturn, so auction could be the route for you if this is something you’re concerned about experiencing.
The same goes for buying too – you’ll naturally work to the same completion time as the sellers, and you don’t need to worry about being messed around. Nobody can gazump you and there are no lengthy property chains that can throw a spanner in the works. The only thing that you need to remember as a buyer is that auction purchases represent a serious commitment. Once your winning bid is accepted and the auction ended, you are legally obliged to complete the purchase.
So, while the news may not be always be pleasant reading at the moment, you can rest assured the team at SDL Property Auctions are primed and ready to help with your property purchase or sale no matter the economic weather – as always, we’re proud to keep the market moving. If you want to find out more about buying or selling by auction, give our friendly team a call on 0800 046 5454.
Remember to tune in!
Our Auction Events are broadcast online, live from our auction studio in Nottingham.
It’s really easy to tune in and watch on the day. The auction begins at 10:00am and will run throughout the day, with our each of our auctioneers taking to the rostrum. Simply visit our website where you’ll be able find a link to the auction on the day or follow the link below!
Our buyers terms
If you’re planning on bidding at auction, it’s really important that you do your due diligence prior to the auction – part of which is reading our buyers terms which you can find below. Make sure to read them in full to ensure you’re prepared to bid.
Guide to additional fees
Important notice relating to fees, costs and charges payable by the buyer in addition to the purchase price.
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs or reservation fees. All prospective buyers are advised to inspect the legal documents including the contract and special conditions of sale and seek their own independent legal advice as to the full cost of purchasing a specific property.
Homes under the Hammer
If you’re successful in this month’s auction, you could take part!
Despite the current restrictions the Homes under the Hammer team are still looking for properties to feature in upcoming episodes of the show, even though they can’t be in the auction studio. If you’re interested in taking part in the programme or would like any information about what is involved in taking part please contact Vaila Walterson on 07814 079910 or Emily Hazlitt on 07966 167076 or alternatively use the button below to contact them via email.
Legal Packs
We recommend reading the legal pack prior to the auction, to make sure you’re aware of all the information before bidding.
It’s really important that you take a thorough look through the legal pack for the property you’re interested in buying before placing a bid, as they lots of important information regarding your purchase. We recommend going through the pack with your solicitor prior to the auction. To view the legal pack for a property you’re interested in, simply click through to the lot using the list linked below, and select ‘legal pack’ on the right-hand panel.
