Not every property sells at the first attempt. Some require a little more patience, a different approach and an agent who is prepared to keep working until the right buyer is found.
This is particularly true of short-lease properties, where a limited pool of mortgageable buyers can make achieving a successful sale more challenging.
At Bradley Hall Auctions, our approach goes beyond simply bringing a property to auction. We believe communication, consistent marketing and effective sales progression are just as important as finding the buyer in the first place.
Our recent sale of a short-lease property on Collingwood Street, South Shields, is a good example of why that matters.
Keeping a sale moving when the buyer pool is limited
The property on Collingwood Street had 58 years remaining on its lease. As with many properties with shorter unexpired lease terms, this significantly restricted the number of potential purchasers, with a cash buyer the most realistic option.
For the seller, finding an agent who understood the challenges was only part of the requirement. They also needed a team that would remain proactive, keep everyone informed and manage the transaction through to completion.
With a more limited buyer market, finding the right purchaser can take time. Rather than treating an unsuccessful auction cycle as the end of the road, our team continued to market the property and explore further opportunities.
Three auction cycles, one successful outcome
Our auctions team initially introduced the property to our registered cash-buyer database, targeting purchasers with the ability to proceed without mortgage finance.
When the property did not sell immediately, we continued to offer it through subsequent auction cycles, refining our approach and maintaining exposure to potential buyers.
This persistence was important, but so was the communication behind the scenes.
Throughout the campaign, our team maintained regular contact with the seller, prospective purchaser and both sets of solicitors. Keeping all parties informed helped ensure expectations were managed and queries could be addressed as the transaction progressed.
Once the successful buyer was secured, this communication continued through the legal process, helping to keep the sale moving towards completion.
The result: £52,000 achieved in South Shields
Following approximately three months of marketing, the property successfully sold during its third auction cycle for £52,000.
The transaction then progressed to completion six weeks after exchange.
It was a successful result for the seller and demonstrated that, even where a property has a restricted buyer market, a consistent approach and effective sales progression can make all the difference.
The sale at a glance:
Location Collingwood Street, South Shields
Remaining lease: 58 years
Sale price: £52,000
Auction cycle: Third cycle
Marketing period: Approximately three months
Exchange to completion: Six weeks
What sets a good auction agent apart?
The seller, Brett D., works with residential and commercial estate agents every day, making his feedback particularly meaningful.
Following the successful sale, he shared his experience on Google: “The thing which separates the good from the bad is communication. From the first call until completion, Louise was proactive and responsive allowing for a smooth and swift completion.”
For us, this reflects an important part of the service we aim to provide. Securing a buyer is a significant milestone, but it is not the end of the job.
From keeping sellers updated on marketing activity to liaising with purchasers and solicitors during sales progression, our team recognises the importance of being accessible, responsive and proactive throughout the transaction.
Selling a short-lease property? We can help.
The Collingwood Street sale, alongside our successful sale of 4 Lyndhurst Road in Ashington, demonstrates how Bradley Hall Auctions can help sellers navigate the challenges associated with short-lease properties.
While these instructions may not appeal to the conventional mortgage-dependent buyer, our registered auction network provides access to cash purchasers and investors who understand the opportunities and considerations involved.
We work with leasehold owners, solicitors and independent estate agents to provide:
· Targeted buyer marketing: Access to registered cash buyers and investors looking for specialist property opportunities.
· Continued auction exposure: Further auction cycles where necessary, helping to maintain momentum and find the right purchaser.
· Proactive communication: Regular updates and direct contact with sellers, buyers and solicitors.
· Sales progression support: Managing the transaction beyond the successful bid, through exchange and completion.
· Partner agent collaboration: Working with other property professionals to extend our reach and provide the right support for each instruction.
A challenging property sale does not always need a complicated solution. Sometimes, it takes the right buyer, a consistent approach and a team that keeps things moving.
Have a short-lease property that needs specialist attention?
Whether you are selling your own property or advising a client, contact Bradley Hall Auctions on 0191 563 4242 to discuss how we can help.
