The debut three-day auction by Preston-based Roy Pugh & Co and Newcastle firm Bradley Hall scored a success rate of 70% and raised £1.4m.
“Preston, our most established venue, was the most successful sale, but we are optimistic that the others will come along in the same way,” said auctioneer Roy Pugh.
Taking place in Rotherham, Preston and Newcastle, the sales featured more than 120 houses and commercial properties held by LPA receivers. Most were low-value properties which went for £10,000-£20,000.
The result underlines the continuing popularity of regional venues. “We have a number of very good local clients who will not put properties into London auctions,” explained Pugh.
