Pugh off to £10m start
Auctioneer Pugh & Co generated £10.7m in sales at its first North West auction of the year, held last Wednesday at Manchester United Football Club.
More than 70% of the 190 lots on offer were sold, with around £7m transacted on commercial and the remainder on residential properties.
Paul Thompson, director and auctioneer at Pugh & Co, said: "The auction was very successful; we saw a great deal of interest and competitive bidding in the room. There is also strong interest in a number of the lots which failed to reach the reserve price on the day of auction, so results and revenues are expected to increase, in line with 2012 trends."
The best-selling properties of the day included Grundy Fold Farm in Bolton, a derelict barn set in 2.33 acres of land, which had a guide price of £50,000-£60,000 and sold for £132,000.
A depot and land at Pool Lane, Walton in Warrington, offered with a guide price of £125,000, sold for £230,000. A two-storey office premises in Ormskirk sold for double the guide price, netting £162,500.
Pugh & Co is holding 28 auctions throughout 2012 – at Manchester United Football Club, Leeds United Football Club, Liverpool Aintree Racecourse and the Newcastle Marriott Metrocentre. Upcoming auctions include Leeds on 28 February, Liverpool on 29 February and Newcastle on 1 March.
