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Business News Wales
a day ago
- Business
- Business News Wales
Auction Business Launches New Property Firm
Property business Paul Fosh Auctions has launched a new business, YourBid. YourBid lists the properties it has on its books on its website and the dates on which bidding takes place. At the end of the auction, the highest bidder has the exclusivity of 56 days in which to make all the necessary arrangements to complete the purchase of the property. The types of property offered in this way are those which are generally mortgageable as opposed to many in a traditional Paul Fosh Auctions sale which either require major renovation or could be unmortgageable. Auctions valuer Olivia Williams has been appointed to head up YourBid for Paul Fosh Auctions. Owner and managing director Paul Fosh of the Newport-based business, said: 'We believe that this is a real game changer not just for us as a business but the industry as a whole. 'YourBid opens up property auctions to a whole new swathe of buyers who, up until now, have been unable to take advantage of the very many benefits of buying a house at auction. 'I don't like the term but so-called Modern Auctions allow many more people, who until now have had to watch enviously and frustratedly from the sidelines as properties that they would otherwise have loved to have bought sold during traditional property auctions, to cash buyers, speculators and investors. 'It is aimed fairly and squarely at owner occupiers who have targeted a particular property which they want to make their home as against developers who may want to do up and flip the lot. 'In a nutshell, YourBid enables these buyers to enter the market. Unlike traditional auctions where when the gavel falls a contract to buy is exchanged, in our new, modern, system successful bidders have time to make all the necessary arrangements, including arranging their mortgage or means to buy the property, before the sale completes. 'It's a win/win which we believe will add a further string to our bow of what is a constantly expanding offering from Paul Fosh Group which now not only covers traditional property auctions but estate agency and lettings. 'After a soft launch we're now confident that, after ramping up our offering, we can soon be achieving a high number of sales each month just through YourBid.'
Courier-Mail
20-05-2025
- Business
- Courier-Mail
Historic mansion for sale for $594k but there's an unusual catch
Shire Hall. Picture: Paul Fosh Auctions via The Sun An 1890s manor in the UK has hit the auction block for just £288,000 ($A594,000). The catch? Prospective buyers can only view it from a distance. Shire Hall, in Llangefni on the island of Anglesey, north Wales, was built in 1899 and sits overlooking the Afon Cefni river, The Sun reports. It was originally constructed of stone at a cost of £4,453, with an extension added in 1912. Once used as office space, the building is now derelict following a serious fire, and is considered unsafe to enter. It's set to be sold at auction between 20 and 22 May. MORE: Brutal divorce 'spite house' has sad truth Brendan Fevola's huge real estate win Block buyer sells 6 homes amid major fear The mansion in north Wales has been put up for sale for just £288,000. Picture: Paul Fosh Auctions via The Sun Originally constructed of stone in 1899 at the cost of just £4,453, a later extension was added to the incredible mansion in 1912. Picture: Paul Fosh Auctions via The Sun Viewings are restricted due to the building's dangerous condition, including a collapsed roof and major structural damage. 'The site is inaccessible, and we are informed is unsafe. We are unauthorised to provide access,' the listing by Paul Fosh auctions reads. 'Any party accessing the property enters at their own risk.' Paul Fosh Auctions says the site has planning permission in place for six riverside apartments. However, they note that a more extensive development could be possible, depending on future discussions with the local council. The building had been used as office accommodation for a number of years. Picture: Paul Fosh Auctions via The Sun It's set to be sold at auction between 20 and 22 May. Picture: Paul Fosh Auctions via The Sun Gemma Vaughan from the auction house said: 'The lot offers a most unusual and exciting opportunity for an investor/developer to acquire this historic building in the heart of Llangefni.' Shire Hall is among 91 properties scheduled for an online auction from May 20 to 22. Parts of this story first appeared in The Sun and was republished with permission. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Cruise's life of Scientology to $926m empire Eddie McGuire's wild house swap revealed Sad demise of Hog's Breath Cafe Aus exposed
