Auctions

Graham Penny announces May investor auction

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21st April 2015
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Graham Penny Auctions has unveiled its largest catalogue of the year so far ahead of its special investor auction next month.

The auction, taking place on Friday 8th May at the East Midlands Landlords Expo at the East Midlands Conference centre, will see a catalogue of 54 varied residential property, commercial property and land lots go under the hammer in front of an audience of hundreds of landlords and property investors.

Vejay Pal, senior valuer at Graham Penny Auctions, commented: “We are excited about holding our auction at the East Midlands Landlords Expo for the third consecutive year. We always have a busy auction room at the event and last year we secured an impressive 47 per cent over reserve average for our clients.

With the catalogue we’ve just launched for this year we’re confident of another successful auction with everything from semi-detached and detached properties through to plots of land and even a former care home.”

In 2014 Graham Penny Auctions secured total sales of more than £17.8m and achieved an overall success rate of 73%.

Vejay added: “The transparency and certainty of sale achieved at auctions is an attractive proposition to many of our buyer clients. With the traditional method of auction we operate, our buyers pay only a £750 buyers fee along with their 10 per cent deposit on the fall of the gavel and they exchange contracts in the auction room – securing their purchase.”

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