The Press release

The Press release

The European Referendum decision to leave the European Union is being seen by NAVA auction house of the year Network Auctions as a positive one for both sellers and buyers as the uncertainty over the outcome of the vote has now been removed. Property is traditionally seen as a safe long term investment and the ongoing position of demand outstripping supply means interest and activity in their forthcoming auction sale is high.

Network Auctions’ next auction is at 2pm on 7th July at the Grosvenor House Hotel on Park Lane, London and already, since the outcome of the referendum vote became clear, the number of enquiries and legal packs being downloaded has risen significantly.

There are 50 lots going under the hammer with a wide range of opportunities for purchasers and investors. Refurbishment projects, buy to let investments (yields up to 13%), commercial investments (yields up to 14%), reversionary lifetime investments, land with and without planning consent and property suitable for owner occupation across the UK will feature.

The Catalogue includes:

37.5 acres of vacant freehold land at Kirkintilloch, Glasgow. This site has a guide price of £75,000 (less than £2000 an acre).
Chelmsford. Four freehold houses requiring refurbishment, one with potential for further development.  Farnborough. An attractive detached house with a large site for development in a prime residential location. Guide price: £450,000+
Northwood. An extended 4 bedroom semi-detached house requiring repair with a guide price of £450,000+

Toby Limbrick, Managing Director of Network Auctions said: “Clearly there has been uncertainty and a certain amount of “sitting on hands” in the run up to the referendum result.

The British people have now spoken and can move forward based on that outcome.

We see demand for property and interest rates, at least in the short term, being attractive and expect an excellent outcome from our July sale.”

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