People Power: Auctioneers sell single property to 280 buyers!
Like the many that have proceeded it, Parsons Son & Basley’s June auction was nothing other than a rousing success with almost £2.5 million of property selling at a success rate of a shade under 75%, however, on this occasion there were 131 people in the room to witness it, an attendance record the auctioneers are rightly very proud of. Auctioneer Simon Caplin however was not so surprised at the turnout. “Over the past couple of years I have become very aware that our room is getting fuller and buzzier with each auction we hold, which is due in part to the high quality investment and development properties we are being asked to auction by our clients, backed up of course by the wonderfully high level of prices we have been achieving now on a very consistent basis.
However the star of this particular show had to be lot 20, a mixed residential commercial and residential property comprising of a former post office and upper maisonette that was sold to 280 people! “Via Findon Parish Council, a consortium of 280 village residents all got together and set up a company expressly designed to purchase the property”, Simon explains. However what no one realised was how important securing the post office was as the moment the hammer was brought down, a section of the audience simply erupted into scenes of utter joy and cheering followed by a rather loud round of applause with those representing the consortium clearly absolutely delighted with what they had managed to achieve.
“ After the auction had finished I congratulated the residents on their purchase ”
“After the auction had finished I congratulated the residents on their purchase whereupon they further explained it is their intention to run the post office themselves in order to be able to secure its long term future and enable it to remain an asset of the community. Often consortiums are attempted to be set up in order to purchase ‘important’ buildings, however rarely do they ever manage to succeed so for the residents to have been able to put all of this in place within two weeks and pull it off really was an incredible effort” says Simon.
Some of the other highlights from the day was a single garage in Bognor Regis that sold for almost 40% more than the higher end of its guide price, just under an acre of land in Hailsham with a large pond that sold for 25% above the guide, a 3 bedroom house in Felpham in need of modernisation that sold comfortably above the lower end of its guide and a detached bungalow in Peacehaven that was occupied by a Statutory Protected Tenant which sold comfortably in excess of its reserve price.
If you have a property you are thinking of selling and would like a free, no obligation valuation please contact the Parsons Son & Basley auctions team on 01273 274014 or visit www.psandb.co.uk
