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Auction has lots of appeal.

PATTINSON Commercial continues to utilise its auction facility with successful results in a difficult market.

At a time when the property market has suffered a general downturn in activity it is important that agents remain as pro-active as possible by offering services to suit current market conditions. One such service is auction and one that Pattinson Commercial considers an essential part of their wider agency services.

The auction appeals to clients of all kinds from the private individual through to partner agents, local authorities and other professional organisations. A selection of recent successes at auction for property in the Teesside area: ? Pool Resprays, Hunter House Industrial estate, Hartlepool, Starting Bid PS325,000 Sold at auction - PS375,000.

. ? 73-75a Parliament Road (William Hill tenant), Middlesbrough, Starting Bid PS165,000 Sold at auction - PS170,000.

? Former Rileys Snooker Hall, Yarm Lane, Stockton, Starting bid PS124,950 - Sold at auction.

. ? Former Rileys Snooker Hall, Bondgate, Darlington, Starting bid PS89,950 - Sold at auction.

. ? Enterprise rent a car (investment) Hartlepool, Starting bid PS85,000 - Sold at auction - PS97,000.

. ? Unit 1 Bone Street, Stockton, Starting bid PS45,000 - Sold at auction - PS59,500.

. ? Unit 4a & 4b Brighouse Business Village, Middlesbrough, Starting bid PS84,950 sold at auction - PS94,000.

. ? Drinkwater House, Marton Road, Middlesbrough, Starting bid PS130,000 sold at auction - PS165,000.

. ? 107-107a High Street, Marske (Post office investment), Starting bid PS110,000 - Sold at auction PS125,000.

. ? Land at 45-53 Dovecot Street, Stockton, Starting bid PS25,000 sold at auction - PS35,000. Keith Pattinson has established itself as a regional leader in commercial auctions, running alongside the residential area of the business by hosting a monthly auction, currently at Newcastle Falcons Rugby Club, Kingston Park, Newcastle, established for more than 17 years that now also offers property for sale by auction nationally. Commercial auction entries are varied and include industrial, retail, leisure and office property, land, development opportunities and property investments. As suggested, instructions are taken from a wide range of clients but recently, has seen a noticeable increase in instructions from other commercial agents, local authorities and other professional organisations alongside the essential private instructions. James Barlow of Pattinson Commercial said: "We have made a conscious effort this year to offer our service to other organisations with great results. It is pleasing to know that other professionals working within the property market are satisfied that we can offer a professional service with proven success when choosing to appoint an auctioneer". The Pattinson Commercial auction facility allows a seller the opportunity to sell a property in a swift and conclusive manner through a legally binding commitment to purchase on the fall of the gavel by a successful bidder.

The process is most successful to those who understand the need to be realistic with their price expectation at the point of instruction. When applied correctly it is pleasantly surprising how many purchasers are still active and ready to commit to a sale in a difficult market.

Pattinson Commercial thanks all of its private clients in recent months and the many organisations including Newcastle City Council, ISOS Housing, GVA, Storeys Edward Symmons, Deloitte LLP, Lambert Smith Hampton, Alder King, North East Commercial, Thomas Stevenson,Browns Commercial plus many more.

? For more information about auction or other services, including sale/letting agency, business sales specialists, residential and commercial valuations, building surveys, property management, energy performance providers, contact James Barlow and the commercial team on 0845 146 1586 or 0191 4251507.
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Title Annotation:Features
Publication:Evening Gazette (Middlesbrough, England)
Geographic Code:4EUUK
Date:Mar 19, 2013
Previous Article:The Teesside market is expected to hold steady.
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