Lot: 55 | 3 Toledo Road, Southend-on-Sea, Essex, SS1 2DW
Link to Lot: View Lot Details
Background
The seller chose to dispose of this development HMO, which already had planning permission in place, in order to focus on other active projects. The property was added to the auction catalogue as a late lot entry, meaning it had a shorter-than-usual marketing window.
Challenge
The property required full redevelopment, which limited its appeal to a specific audience of buyers with the appetite, experience, and funds for a major refurbishment project.
Outcome
Despite the short marketing period and the scale of work required, the property attracted strong interest from developers and investors. It sold immediately after the auction for £411,500 – an excellent price that reflected both its redevelopment potential and its strong location in Southend-on-Sea.
Key Learnings
- Late entries can still perform exceptionally well with the right marketing strategy and access to a large, targeted buyer database.
- Properties needing full refurbishment are ideally suited to the auction process, where motivated cash buyers compete to secure opportunities quickly.
- The auction route can significantly shorten the sales process, even for properties that might face extended marketing periods via traditional methods.
Conclusion
This sale is another example of how Dedman Gray Auctions, as Essex’s most successful property auctioneer, consistently delivers strong results for properties that might be considered challenging in the open market.
Through targeted marketing, access to a wide network of motivated buyers, and the speed and certainty of the unconditional auction process, we can secure excellent prices and fast completions – even for late entries requiring substantial works.
If you have a property with redevelopment potential, non-standard construction, or one that needs to be sold quickly, contact Dedman Gray Auctions today to find out how we can achieve a fast, secure, and successful outcome for you.