BidX1 5th of July sale is UK breakthrough property auction

BidX1, the ground breaking digital auction house has launched its next UK catalogue following the success of the largest digital auction to date. BidX1 returns with a breakthrough catalogue opening for bids on the 5th July, with 41 lots consisting of residential and commercial listings throughout the UK.

The digital auction includes the largest lots to date, highlighting the platform’s growing influence. The first is a highly desired lot which carries a guide price of £2,850,000 – £3,250,000.  The property is a long leasehold office building in Oxford extending to approximately 4,575 sq. m (49,244 sq. ft), with excellent transportation links. The property also has the potential for conversion to alternative uses (subject to obtaining consents).

The second is a detached freehold unbroken apartment block in Birkenhead, with a guide price of £1,750,000. This property comprises 27 two bedroom self-contained apartments, the block is currently fully let and is producing a combined rent roll of £161,220 p.a. thus providing a potential purchaser a gross initial yield of 9.21%.

Further afield there are two freehold blocks of apartments in Bingley, outside of Bradford. The property is situated close to shopping amenities, and comprises 16 two bedroom apartments, with a guide price of £705,000. These higher priced properties located outside of London showcase the breadth of the catalogue across the United Kingdom.

 

BidX1 Founder Stephen McCarthy said:

“The success of the European auction has demonstrated the reach that BidX1 has globally. We are pleased to announce another UK auction with a large variety of properties in the catalogue as BidX1 continues to gain traction in the market.

“This is our UK breakthrough auction, with vendors looking to sell properties worth up to £3.2 million, now keen to employ a digital platform. Through our data led approach, we are better positioned to understand bidder’s needs and drivers, making BidX1 a more transparent and successful platform.

“Following Europe’s largest digital auction last month, we can see the ripple effect of how our model is enabling both buyers and bidders through its accessibility and ease of use. As we return for another UK auction, with high profile standout lots, we look forward to a continuation of our success to date.”

 

BidX1 has gone from strength to strength since first entering the UK market.  Europe’s largest auction last month was held over the 30th May, 31st May and 1st June, featuring a portfolio of Irish properties, attracting global bidders worldwide from Saudi Arabia to New Zealand, and raising a record €36m.

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