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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
 

SVA PROPERTY AUCTIONS RAISE OVER £4 MILLION

Clean sweep of lots sold under the hammer for Scottish Water, Perth and Kinross Council and a portfolio of redundant bank branches

SVA Property Auctions, Scotland’s independent property auction company, saw 90% of the auction lots sold at its March auction with £4 million raised from 31 lots.

Regular clients Scottish Water, the Scottish Government, Fife Council, Perth and Kinross Council and a portfolio of former bank branches accounted for 27 of the 31 lots sold under the hammer and post auction, continuing a programme of highly successful redundant property disposal initiatives.

Guided at £700,000, the former bank premised at Blenheim Place in Edinburgh’s city centre, was the focus of highly competitive bidding, rising to a final crescendo of bidding between two parties, and eventually the hammer falling at £1.3 million. It is thought that the handsome three floor Grade A listed corner building has been purchased for owner occupation.

Of the five lots brought to auction by Perth and Kinross Council, the one that attracted the most attention was a development opportunity at Rosebank Depot in Auchterarder. The 0.7 acre site on the north eastern edge of the town was formerly used as a road depot and is adjacent to the Kirkton Residential Expansion Scheme. Says Shaun Vigers, SVA Property Auctions director and auctioneer: “The community of Auchterarder is expanding and flourishing and the release of this site is good news for the community as it opens up a range of opportunities for local development. With the right permissions in place, the site could be used for retail, other commercial uses or educational purposes.” The lot was sold for £300,000 and as was the case across the board of Perth and Kinross Council’s lots, secured a sale comfortably in excess of expectations.

For the Scottish Government, their auction highlight was possibly the sale of a new housing development with land at Fairways Drive in Dunoon. The lot, which consisted of an incomplete development of six flats, two houses and around 1.8 acres of land, sold for £450,000, almost double the guide price. Bought by a building company, it is expected that the flats and houses will be completed for sale, followed by the building of new homes on the rest of the site.

The March auction was possibly one of SVA Property Auctions largest ever auctions. Says Vigers: “We had to postpone this auction for a week at short notice because of the snow disruption and I am grateful to everyone who accommodated the change and turned out for the re-arranged auction in such large numbers.”

SVA Property Auction’s next auction will take place on Thursday 10th May at the Edinburgh Marriott Hotel at 2pm, where amongst others, SVA will be offering some interesting lots on behalf of Scottish Enterprise.

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

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