Graham Penny Auctions, the Midlands' leading firm of property
auctioneers, has released its sales figures for 2011 - and despite
current market conditions, the company achieved a record-breaking
32% increase in total sales for the year.
The company, which acts for private individuals, charities and
local authorities, exceeded its targets once again to achieve the
most successful year in its six year history.
It recorded sales in excess of £44.3 million in 2011 from
its seven auctions held at Pride Park Stadium in Derby. This
represents a 26% increase in total sales value over its 2010
figures.
464 properties were sold over the 12 month period, a 32%
increase over 2010. The average percentage of properties sold was
up one per cent to 76%, whilst the average property value remains
at £95,858, a similar level to 2010.
The company's December auction was its largest for three years,
with more than 100 properties achieving sales of more than £7
million. Of the 100 residential and commercial lots on offer, 80
sold both at auction and privately. This success rate is well in
excess of the national average.
A highlight from 2011 came with the sale of Alton Manor, a Grade
II listed, 14 bedroom property, which sold in May for £2.4
million, more than twice the guide price.
Commenting on the company's continued growth during 2011, Graham
Penny said:
"We knew our 2010 figures would be difficult to beat, but our
unrivalled market knowledge and expertise, coupled with our ability
to create a market where buyers and sellers come together and do
business at sensible prices, has been a major contributory factor
to our excellent results this year."
The company has recently announced plans to launch a Nottingham
operation and is set to open an office on Wheeler Gate in
Nottingham city centre later this month, with its first sale set to
take place in March.
Entries are now being invited for the first sales of 2012, which
are taking place at Pride Park Stadium in Derby on 9 February and
Nottingham Racecourse on 20 March.
Graham Penny Auctions sells a wide range of interests, from
vacant houses and investment properties to building plots and
development sites, commercial properties, land and others.