Auctioneers looking forward to busy year after £4.2m sale

A COVENTRY auction house is preparing for a busy 2017 after completing the largest sale in its 173-year history.

Loveitts raised £4.2m from the auction; consisting of 27 lots ranging from garages and commercial properties to pubs, terrace homes and even a chapel.

The auction house said the sale was an indication of the changing trends within the property sector towards the disposal of property.

Loveitts Associate Director Sally Smith, who was on the rostrum for part of the sale, said: “We were extremely excited to hold our biggest ever Coventry auction and the results did not disappoint.  

“I think this demonstrates a changing attitude towards the way vendors want to sell their properties. Auctions provide an excellent platform for the more unusual properties – such as the Carousel pub – and it can mean that sellers get a higher price than if they had gone down the more traditional route.”

She said the standard of properties under the hammer had been high and also in some desirable areas of Coventry and Warwickshire.

Three lots were even sold ahead of the auction because they proved to be attractive propositions.

“Coventry’s property market is very buoyant as it is a desirable region to live with its central location, access to the motorways and home to some of the biggest employers such as Jaguar Land Rover and Severn Trent,” added Ms Smith.

The firm is hoping that the trend established last year continues through to 2017. It stages its next sale in February.