Development and investment properties were the flavour of the day at this week’s Graham Penny auction.Over 30 lots went under the hammer at Nottingham Racecourse on Thursday 4th September, signalling the start of many Homes under the Hammer-style refurbishment projects for the buyers.
Vejay Pal, senior valuer at Graham Penny Auctions Nottingham, said: “This month’s auction catalogue had a number of excellent refurbishment project properties to tempt our developer clients, some with existing tenancy agreements ideal for landlords and others with commercial elements popular with investors and business owners.”
Graham Penny Auctions is now inviting entries for its next auction on Friday 17th October. A variety of exciting lots have already been received and interest is high as investors are keen to buy before the winter. Anyone with a property to sell is encouraged to get in touch for a free property appraisal.
Vejay added: “TV programmes like Homes under the Hammer have put property auctions into the spotlight and shown that they are a place for securing a great price for a property and the completion process is much more straightforward than with the private treaty market – when the hammer falls the sale is secure and sellers receive their money within a month.”