Lots offered on behalf of local authorities were in demand at Pugh & Co’s February auctions, which raised £15.6m off a success rate of 64%.
The northern auctioneer offered 227 lots and sold 146, including 42 prior, at the sales in Leeds and Newcastle on 26 February, Liverpool on 27 February and Manchester on 28 February.
A parcel of vacant land in Blackburn, Lancashire, offered on behalf of Blackburn with Darwen council, sold for £121,000 off a guide of £25,000-£35,000.
Pugh director Stephen Swainson said: “We are continuing to see interest in distressed lots offered on behalf of banks and public bodies. This together with historically low interest rates continues to attract new investors to the auction market.”
samantha.baden@estatesgazette.com
