The Venmore Partnership proved the value of local venues when it sold three parcels of land at Fordlea Way, West Derby, Liverpool, at its £2m auction in the city last week
Auctioneer Philip Cassidy said the plots of land, two of which have potential for residential development and the third for associated parking, had been bought by one of his regular clients “a few months ago” for £2,000 at a London auction.
Guided at £5,000, the sites were knocked down at the auction, held at Liverpool’s Britannia Adelphi, for £30,000.
He was equally pleased with a semi-detached house in Grove Park, converted into four flats let on assured shorthold tenancies, which had been reserved at £75,000 but which sold for £110,000 after competitive bidding from five different parties.
“The vendor was also pleased as he had tried to sell the property by private treaty and had had one party interested at £70,000 but who was dithering,” said Cassidy.
Of the 133 lots offered, 10 sold before the sale and 87 in the room (78%), although Cassidy expects post-auction sales to take the final tally closer to 90%.
