Pugh finishes year on £56m auction sales
Pugh & Co Auctions achieved an 80% success rate of lots sold in its auctions during 2015. The final Manchester auction of the year raised £4.4m, taking the year’s total to £56.2m in the North West.
The total numbers of lots sold in Manchester during 2015 was 653 properties. The December auction, held at the Etihad Stadium, saw 74% success rate from 106 properties in the catalogue.
Paul Thompson, managing director of Pugh & Co and auctioneer, said: “It was very pleasing to see such a strong set of results for our last auctions of 2015 and to achieve a 74% sale rate in our December auction at Manchester. Plots of land for residential development continue to be a growing area of interest at our auctions and this is set to continue in our 2016 auctions. We have had a very successful 12 months and many new clients have selected Pugh & Co as their auction house of choice, which in turn has assisted our sales growth in 2015. We’re looking forward to a strong start in 2016 with our February catalogue already filling up with a range of land as well as commercial, residential, and unusual properties.”
Total sales for the two locations where Pugh holds auctions, Leeds and Manchester, in 2015 was £70.5m with an 80% success rate, a total of 802 sold lots.
Pugh & Co’s February auction catalogue goes live on 29 January with the first auctions of 2016 due to be held on 23 February at Leeds Elland Road Stadium and 25 February at Manchester City Etihad Stadium.