Network Auctions inaugural sale at Hatfield House in September saw impressive sales of £2.5 million from the 28 lots offered. The packed auction room – attended by more than 250 people – saw lively and competitive bidding for the properties with some staggering results.

“The auction results completely surpassed our expectations,” said Toby Limbrick, director of Network Auctions. “Our vendor clients were extremely happy and our estate agent members who had entered property in the sale on their clients’ behalf were also extremely delighted with the result.”

The sale started with a 150-year old redundant Gospel Hall in Worthing that went for £150,000 to possibly become a dental laboratory. Unusually, a number of life reversion homes were also sold as longer-term investments, where the existing tenant enjoys rent-free accommodation until they vacate the property – then reverting to the purchaser’s ownership. Parcels of land, redundant pubs, a light industrial unit, plus properties with and without planning consent added to the flavour and interest of this highly successful auction.

Lots from as far and wide as Brighton, Yeovil, Lincolnshire, Rickmansworth, St Albans, Bletchley, London and Luton were sold. The most competitive bidding was saved for the last lot of the day: a three-bedroom, semi-detached house in need of modernisation in Greenford, Middlesex which went for £234,000 – an impressive 38 per cent over its guide price, “We are gaining new members all the time and, by the end of the year, we anticipate having a network approaching 25 local property specialists, which will continue to grow in 2010,” continues Toby.

Network Auctions is setting the pace in property auctions nationwide. Members are estate agents, auctioneers and property specialists who provide that essential local professional expertise, track-record and advice to its clients. The national presence is then delivered through the team at Network Auctions who market, coordinate and administer the auctions on behalf of its members.

The next auction will take place at Hatfield House on Wednesday, October 28.

For further information on Network Auction, visit www.networkauctions.co.uk;
e-mail auction@networkauctions.co.uk;
or telephone 01923 240 420