Spring Auction Day 2017
27 September 2017 | 2 min read
Coutts hosted its fifth Auction Days on Thursday 14th September and achieved a strong 100% clearance rate with three of the four properties selling under the hammer while one property sold prior to the auction. Coutts continues to demonstrate that bringing commercial and industrial properties to the local market through auction achieves optimal results, in what is an under supplied market.
Properties from Richmond, Riverstone, Castle Hill and Penrith all went to the market and received great interest from many parties. An industrial warehouse/office space in Castle Hill generated interest among many potential purchasers with a number of groups inspecting the property which set up for an electrifying auction. The hammer fell at $1,305,000.
In total, over $3.5m of commercial property was secured by excited purchasers. Multiple back and forth bidding created excitement in the room which in turn resulted in the some great results. Vendors and purchasers, as well as the agents were most pleased with the results.
Director Grant Beaumont noted:
“Coutts are showing that our Auction days work. A challenging market, with fewer than usual listings, means that our demand for good quality is high. As a result the auction method of sale is ideal – it is completely transparent and fair to vendors and purchasers and has a fixed time line. I am so pleased that we are able to achieve great results for our clients”
Coutts are now seeking entries for its Summer Auction Day which will be held on 15 November 2017.