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Bridge of Weir: More than 80 bids made for derelict house

A derelict house in Bridge of Weir has been sold for £313,000 at auction following a frenzied bidding war

The Bridge of Weir property has been lying empty for many years

The four-bedroom detached villa, which requires full upgrading, has been lying empty for some time and is unsuitable for habitation.

Selling agents Online Property Auctions Scotland had originally set a guide price of just £195,000 for the half acre site on Johnstone Road, one of the most sought-after locations in the west of Scotland.

However, the property went under the hammer for a significantly higher sum of money on Thursday, August 12, following more than 80 bids.

The bidding began at £180,000 and over next five hours, seven would-be buyers battled it out before the 82nd bid of £313,000 proved to be decisive.

George Douglas, CEO of Online Property Auctions Scotland, told The Gazette: “This type of property is rarely available in this area, which is why it attracted so much interest.

“The purchaser has several options, which include renovating the existing house or building a brand new detached house or residential development, subject to obtaining planning permission.”

Located between Bankend Road and Bridge of Weir Road, the property benefits from a substantial main road frontage and was in the ownership of the same family for a large number of years.

The property currently comprises of a dining kitchen, utility room, three public rooms, two WC, a bathroom, four double bedrooms and a boxroom.

There is also a large three-car garage and basement rooms.

This article first appeared in The Gazette on the 21st August 2021. Credit Jacob Nicol.

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Borgue Church going up for auction

The historic B-listed Borgue Church building will be put up for auction next week, three years after it was closed closed due to a dwindling congregation.

Borgue Church goes under the hammer with a guide price of £53,000

The church had been in existence since 1814 and the churchyard contains the late 19th century mausoleum of the Gordons of Earlston.

Borgue Parish is linked to Gatehouse, Tarff and Twynholm parishes, it lies five miles south-west of Kirkcudbright and six miles south of Gatehouse of Fleet.

The sale, by online auction takes place on Thursday, July 29, with a guide price of £53,000.

The 3280 sq ft property, which was previously on the market for offer over £60,000, is located in an elevated position, overlooking Borgue with views out to the Galloway Hills and the Solway Firth.

According to selling agents, Online Property Auctions Scotland, the church provides excellent development potential and is likely to attract interest from developers seeking a bespoke opportunity to create something special.

A spokeserson said: “We are delighted to offer to the market this substantial detached Category B listed former church building.

“The church is of Gothic design and is ideal for conversion into a magnificent house or a commercial venture including a possible tourist facility (all subject to planning consents).

“The varied landscape and seascape of the Borgue area makes it highly desirable for outdoor activities.”

https://opascotland.com/lot/details/49190

*This article first appeared in The Galloway Gazette on the 21st July 2021.

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Commercial property: Industrial land in Golspie sells for £9,500 after going up for auction at £1

Golspie Industrial Estate, at the centre of the picture.

A piece of industrial land in Golspie which was put up for auction with a guide price of just £1 eventually sold for £9,500.

The auction, run by Online Property Auctions Scotland (OPAS), included five other lots.

Although they attracted multiple bids, these were not high enough to meet the sellers’ valuations.

OPAS said the plot of vacant land with the £1 price tag and potential annual rental income of £800 attracted “huge interest”.

Winning bidder opened with £3,000 offer

The identity of the buyer was undisclosed but OPAS said they entered the auction yesterday (June 23) with a bid of £3,000 and were forced up by competitors throughout the afternoon.

A total of seven bidders made had made 35 bids in all by the time the auction came to an end.

The five other units to come under the hammer attracted final bids ranging from £19,000 to £59,000 but none of them matched their guide prices, ranging from £11,000 to £64,000.

Golspie Industrial Estate Unit 5, which had a guide price of £16,000.

Covid-19 has led to a marked decline in traditional property viewings due to social distancing rules.

But these same conditions have allowed OPAS and other businesses with the same operating model to thrive.

Yesterday’s “special” auction of industrial property and land in Golspie’s town centre industrial estate was described by the auctioneers as “a once in a generation event”.

It is the first time the auctioneer has focused on just one industrial estate.

Site-focused event may be replicated

George Douglas, the Glasgow-based company’s managing director, had previously indicated a successful event could be the forerunner for more like it.

OPAS specialises in the sale of high-yielding commercial and residential lots, including land.

Its online auctions are held, on average, every two weeks, with dozens of properties available – both commercial and residential – from across the country. Bidding can be done via desktop, tablet or mobile device.

Industrial market slump

Just over £30m was invested in Scotland’s industrial property market amid lockdown during the first three months of 2021, half the five-year quarterly average of £61m, according to property giant Colliers.

In a blog late last year, Mr Douglas said: “Obviously it’s not been possible to attend live auctions during the pandemic.

“But we’ve found a very healthy number of regular ballroom auction patrons migrating to our online auctions during the lockdown.”

*This article first appeared in The Press & Journal on the 17th June 2021. Credit Keith Findlay.

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Property and land at Golspie Industrial Estate to go under hammer in special online auction

A special auction of industrial property and land in Golspie will take place next Wednesday (June 23), with guide prices starting at just £1.

The sale, conducted by Online Property Auctions Scotland, comprises of six lots situated in the industrial estate in the centre of the village.

Units at Golspie Industrial Estate

One lot of vacant land, which currently provides an annual rental income of £800, has a guide price of £1.

The sale has been described by the auctioneers as “a once in a generation event”.

The other five units going under the hammer are a mix of tenanted and vacant properties in different sizes.

Guide prices for them range from £11,000 to £64,000.

George Douglas, Managing Director of the Glasgow-based Online Property Auctions Scotland, said: “This is a special auction because only these units in Golspie are up for sale.

“Normally, we host an auction every fortnight with dozens of properties available, both commercial and residential from across the country.

“This is the first time we have focussed on just one industrial estate. If it proves to be a success, we will probably do it again.”

Online Property Auctions Scotland are a well-established auctioneers specialising in the sale of high-yielding commercial and residential lots, including land.

Auctions take place every two weeks and the bidding is live in real time. Bidding can be conducted via desktop, tablet or mobile device.

Click here for further details.

*This article first appeared in The Northern Times on the 17th June 2021.

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Interview with George Douglas CEO of Online Property Auctions Scotland

The Covid-19 pandemic has resulted in a marked decline in traditional property viewings due to social distancing rules.

However, these conditions have allowed Online Property Auctions Scotland, a company specializing in digital property auctions, to thrive.

CEO George Douglas says: “Obviously it’s not been possible to attend live auctions during the pandemic, but we’ve found a very healthy number of regular ballroom auction patrons migrating to our online auctions during the lockdown.

“We don’t charge any fees whatsoever to those looking to sell their property in our auctions, and we offer a speed of sale that estate agents simply can’t manage at the current time.

“We’ve sold properties in all four corners of Scotland in the past year, and we’ve also grown the number of sellers looking to list with us.

“Interestingly many sales were completed with the aid of video viewings etc.”

The company has a wide range of properties, both residential and commercial, presented for sale through auction three times a month.

In recent weeks OPAS have sold several flats in Glasgow, a pub and restaurant portfolio in Cambuslang, along with other property in Paisley, Ayr, Airdrie and Kirkcaldy.

George Douglas adds: “Perhaps the most unusual sale recently was a former church building in rural Perthshire

“The new owners intend to convert it into a stunning family home. It is always refreshing to see people with a dream and vision which will breathe new life into a neglected building.”

Sellers include financial institutions, banks, insolve​ncy practitioners, executory sales, large and small investors as well as private clients who seek a fast, guaranteed sale.

Prospective buyers are provided with a legal pack prepared by the vendor’s solicitor.

It is also always possible to view all of the properties and potential buyers are urged to carry out their own due diligence.

*This article first appeared on Novaloca on the 16th November 2020

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Cambuslang restaurant and bar sold at auction

Cheers bar and the Coulotte Steakhouse above it were sold at auction by Online Property Auctions (OPA) Scotland for the guide price of £145,000.

Coulotte Steakhouse in Cambuslang

A popular bar and separate restaurant occupying the same building on Cambuslang Main Street have gone under the hammer for a combined £145,000.

Cheers bar and the Coulotte Steakhouse above it were sold at auction by Online Property Auctions (OPA) Scotland for the guide price of £145,000.

OPA received eight bids from three would-be buyers.

When the two units initially came up for auction in April with the same guide price, they failed to sell in what was an uncertain climate for investors.

The new owner of 80-84 Main Street will net a combined rental income of £24,000, with the first floor restaurant leased at £7000 a year, and the pub at £17,000 per annum.

George Douglas, director at OPA Scotland, insists that appetite in the Rutherglen and Cambuslang property market, particularly in the buy-to-let sector, is healthy.

As well as the Cheers and Coulotte transactions, his company sold two one-bedroom flats in the area during lockdown.

George Douglas

He said: “The buy-to-let market in Lanarkshire, and the Greater Glasgow area – which for our purposes includes Rutherglen and Cambuslang – remains strong with high demand, which also comes from developers looking for renovation and resell projects.

“During the height of the Covid-19 pandemic, we noticed a small increase in the number of residential buyers who were just looking for somewhere to live.

“If you consider the difficulties brought about by social distancing, this shows the market is healthy.

“We are currently keen to hear from sellers because we know the buyers are there, particularly as restrictions have eased and it is now easier to conduct business.”

George believes the success or otherwise of the economy in general will influence the direction the local property market will take.

He explained: “Economic uncertainty is highly likely to have an impact on the property market.

“These have been a very difficult few months for many people and some will look to cash in on some commercial assets.

“The residential housing market was strong going into lockdown, however redundancies and lack of confidence are certain to have some effect on the levels of stock coming to the market.”

*This article first appeared in the Daily Record on the 12th August 2020