Liverpool based auctioneers Venmore have announced 47 lots for their next auction, held on Wednesday 18 May at 1.00pm at the Hilton Hotel and are offering potential investors and budding entrepreneurs the chance to purchase their own restaurants, bars, or even a shop with 40% of this months lots dedicated to commercial or investment opportunities.
The auction held at the Hilton Hotel in Liverpool ONE will be filmed by BBC’s Homes Under the Hammer, which uncovers the tricks of the property auction trade.
Ronan Connolly, auction sales manager is keen that a number of the commercial and investment lots will generate high interest at this month’s auction; “Lot 11 is The Stables Bar in Garston and with a guide price of £140,000 - £160,000, this could be a fantastic investment property as the establishment comprises of over 90 covers, a great restaurant and bar area, as well as benefiting from a 3am alcohol license. When trading it was achieving over £500,000 revenue pa and it has been recently refurbished to a very high standard and so is ready to trade immediately.”
Ronan continues; “As well as this property, Lot 1 is a 3 bedroomed, grade II listed house in Wallasey on the Wirral. The large property was recently on the market for £220,000 but we are giving this a starting guide price of £170,000 so a potential buyer could get this property for £50,000 market value. Similarly, Lot 38 offers the rare opportunity to buy a prime city centre property located on Sir Thomas Street. The property, which has a potential income of £30,000 pa, offers 2100 sq ft of open plan space at a guide price of £200,000 - £250,000. A varied range of properties such as these at this auction offer incredible opportunities for any budding investors.”
With Venmore welcoming back BBC’s Homes Under the Hammer, who last came to film the auction in November 2010, Head of auctions, Nick Ball believes that property auctions are continuing to grab national consumer interest; “Property auctions allow house buyers and vendors a faster and more reliable process in buying or selling your property. The majority of buyers at auction are buyers with funding in place who can exchange immediately and so there is no chain to worry about. With a 28-day completion period from the moment of exchange, the whole transaction couldn’t be quicker by selling in any other way!”
Venmore’s next Auction will be held on Wednesday 18 May at 1.00pm at The Hilton Hotel, Liverpool One. To register interest contact Venmore Auctions on 0151 236 6746 or online at www.venmoreauctions.co.uk
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