Auction specialist breaks through the £36 million mark
T HE area's biggest property auctioneer saw its turnover for 2012 push through the £36 million mark with another successful week.
Butters John Bee's auction on Monday at the Moat House Hotel saw more than £3.14 million of property change hands, giving a conversion rate of 77 per cent on the night and with a few deals being tied up afterwards BJB maintained its average of 80 per cent for the year.
There were some spectacular improvements over guide price on the night with terrace property again popular and developers out in force looking for houses that need some degree of modernisation or renovation.
For example, Lot 69, a two bedroom mid-terrace at 41, Sandon Street, Etruria, was entered with a guide price of £35,000 but eventually stopped the bidding at almost a third more, at £46,000.
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Another two bedroom terrace, this one in need of some modernisation, at 59, Chell Street, Birches Head, sailed past its £35,000 guide price to go for £45,000. Lot 60, a three bedroom semi at 57, Stafford Crescent, Clayton, which will need updating beat its guide price of £50,000 by 10 per cent when the hammer came down on the final bid of £55,000.
There were lots of similar sales. There was a pair of two bedroom mid-terrace houses in Tintern Street, Hanley, one at Number 7 and the other Number 19, both of which had a guide of £35,000 but which went for £42,000 and £41,500 respectively. A similar property at 22, Lindley Street, Cobridge, went to a new owner who had to bid £6,500 more than the guide of £25,000 to get it and 155, Knutton Lane, Knutton, a two-bedroom end terrace with off-road parking and a back garden and in need of updating went into the auction at £45,000 but sold for £53,0000.
Mike Hancock, associate director at BJB, says: "We sold 77 per cent of the lots entered on the night and with a few sold after we should hit our 80 per cent that we have averaged for the year. In total £3,144,000 worth of property was sold on Monday taking us to £36,067,600 of property sold by us at auction in 2012.''