Haslams - Other - Auction

Date: 29 Oct 1997

Auction

A packed auction room at Pincents Manor, Calcot, Reading, Berkshire ensured brisk bidding at Reading Chartered Surveyors, Haslams, first auction for three years, on Thursday 16 October. With thirteen lots it was considered the largest property auction in the Thames Valley for at least twenty years

Of the 13 lots offered, 8 were knocked down in the room, providing a return of £802.500. Steven Smith, Haslams' auctioneer for the night said that one further lot was sold prior to auction. Terms were agreed for a further three lots within twenty four hours of the auction taking place. Accordingly 12 of the 13 lots were sold - a 93% success rate. The total sale proceeds will be in excess of £1,000,000.

Steven Smith commented 'We were very encouraged by the amount of people who came to the auction. 0ur estimation is approximately 270 and unfortunately some -about 30- had to monitor the proceedings from outside'.

Lots on offer included a shop, a pumping station, development site with planning consent for five units, various residential property with investment and occupation potential. Stephen Woodford, Haslams' residential partner, added that 'certain property is ideal for all auction sale almost irrespective of market conditions. The lots on offer were well suited and this was proven by the results.

Haslams are so encouraged by the response that they have planned a further auction in January, for which they have already taken three lots located in Thatcham, Wokingham and Caversham and further lots are sought. Steven Smith concludes 'Although Pincents Manor is a charming location, and highly accessible close to Junction 12 of the M4, we may have to consider a larger venue'. Joint auctioneers were Vanderpump and Welbelove.

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