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SVA Property Auctions Ltd. Scotland’s independent auction service. Hammering home the advantage of a full auction service.

Press Release

SVA PROPERTY AUCTIONS LTD
 

December 2018

 

 

 

 

 

FORMER FILLING STATION SELLS FOR TWICE THE GUIDE PRICE

 

More banks go under the hammer 

 

At its final sale of the 2018 season, SVA Property Auctions, Scotland’s independent property auction company, sold 90% of the catalogue and achieved total sales of over £1.7 million. Bringing  a buoyant year to a close, the fifth and final auction of the season brings SVA’s total sales for the year to £11.27 million with a 84% success rate.

 

In an enthusiastic auction room, the sale got off to a frenetic start with the second lot, the former Viewforth filling station near Kincardine Bridge, securing twice the guide price as the hammer fell on a bid of £116,000. SVA Property Auctions director and auctioneer Shaun Vigers said: “The site has a high profile position at the southern end of the Kincardine and Clackmannanshire bridges. The site’s location certainly provides huge potential for redevelopment and alternative commercial use. But the final price wasn’t too much of a surprise for us as after 25 requests for legal packs prior to the auction, we were ready for some intense bidding.”

 

Another auction highlight was one of the six former banks in the auction - the former bank premises on the High Street in Annan.  The handsome, red sandstone, C listed, nineteenth century building occupies a site in the centre of town and was the subject of another run of highly competitive bidding, with the final bid securing the property at £91,000. It is believed that the property has been bought by a local business.

 

A small shop on Allardice Street in Stonehaven was perhaps one of the unexpected lots to take the limelight. The mid-terrace ground floor shop, was most recently used as a tourist information office but has the potential to be re-developed for owner-occupation. Sold under the hammer for £82,000, SVA believe the buyer was an investor, intending to re-develop the property for rental.

 

Says Vigers: “Allardice Street actually sold at auction for more than a recent open market valuation of the property. We have come a long way in the auction business from the times when the concept of auction was an option of last resort for a seller. Over recent years, and perhaps particularly this last year, we have seen consistently busy auction rooms with many new faces. Auction, I think it would be fair to say, has gone mainstream. Many of the lots successfully offered over the last couple of years have never been on the market before." 

 

 

SVA Property Auction’s next auction will take place on 28th February at 2pm in the Marriott Hotel in Edinburgh.

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For further information, please contact Shaun Vigers, SVA Property Auctions on 0131 624 6640.

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