Poundworld assets auctions a huge success

Published on: 28th September 2018

The assets of Poundworld Retail Ltd headquarters have been sold, raising in excess of £450,000 at online auction.

Our specialist machinery and business assets team were instructed by Deloitte, administrators of Poundworld Retail Limited following the firm entering administration earlier this year.

The sale included over 1,200 lots with modern distribution equipment, IT equipment, office furniture and point of sale stock all being sold via Bidspotter.co.uk, the online auction site.

The sale concluded on Wednesday 22nd August following two days of competitive bidding between over 500 registered bidders from eight different countries.

Andrew Cromack, Surveyor & RICS Registered Valuer in our Leeds machinery and business assets team commented on the successful sale, “With it being a fairly high profile job we expected to receive high levels of interest and the quality of the lots on offer enabled us to surpass all expectations on the total sale figure.

"The sale generated over 19,000 individual bids which reflects how competitive the bidding was. The sale was packed with high-quality items and it was nice to see two individual lots selling in excess of £50,000 each.’’

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A bumper year for SW auctions marks the rise in online auctions

It is a common occurrence for businesses to have unwanted or unused plant and equipment. Whether it is as they enter administration, voluntarily close the business or perhaps introduce new methods of operation that result in surplus equipment. Over the past 12 months our specialist plant and machinery team have completed approximately 40 online auctions via Bidspotter, the web’s number one online auction site which deals with over 10,000 lots every day.

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It is a common occurrence for businesses to have unwanted or unused plant and equipment. Whether it is as they enter administration, voluntarily close the business or perhaps introduce new methods of operation that result in surplus equipment.

Over the past 12 months our specialist plant and machinery team have completed approximately 40 online auctions via Bidspotter, the web’s number one online auction site which deals with over 10,000 lots every day.

[fulltext] =>

The sales completed by our auctions team last year grossed over £11million with approximately 75% of lots sold and an average of just under 200 registered bidders for each sale (this figure is up 49% on previous year).

Stephen Jepson, associate partner in our machinery and business assets team commented, “Online sales have now firmly established themselves as the most popular auction selling method, as a team we carried out our last traditional live and webcast auction over three years ago, in April 2015. Whilst not ruling out this method in the future it is unlikely that there will be a proliferation of live auctions.

“Online auctions remove the need for proximity to the sale and whilst we still receive a lot of interest in viewing the lots before bidding, we are also noticing an increasing number of overseas buyers, particularly those in mainland Europe that are encouraged by the recent more favourable rate of exchange. Other lots have been purchased by bidders in Canada, USA, Australia & Malaysia.

“Along with a full range of industrial equipment we also held some really interesting sales last year, including ex-military vehicles & tanks, narrow boats and even a factory full of Christmas decorations. With a number of large auctions coming up before the end of the year we’re sure that we’re looking forward to what the next year will bring.”

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Packaging production equipment sells for record £6.5million at online auction

Modern flexible packaging production equipment and other assets have been sold, fetching a record £6.5million in total in an online auction. Our machinery and business assets team was instructed by KPMG following the announcement that joint administrators from KPMG had been appointed to Pulse Flexible Packaging Ltd earlier this year.

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Modern flexible packaging production equipment and other assets have been sold, fetching a record £6.5million in total in an online auction.

Our machinery and business assets team was instructed by KPMG following the announcement that joint administrators from KPMG had been appointed to Pulse Flexible Packaging Ltd earlier this year.

[fulltext] =>

The auction was hosted on Bidspotter.co.uk, the online auction site. Latest statistics from the site show that with the exception of auctions of classic cars and property, this particular auction is the highest grossing auction ever seen on the site.

One of the more popular lots, a Bobst F&K 20 Six CI press, achieved a sale price in excess of £1.5million, making it not only the highest value lot in this auction but also the highest value lot to be sold through the site.

The two-day online auction took place on Wednesday 20th and Thursday 21st September with over 1,300 lots up for sale. There was a significant level of interest from potential purchasers throughout the world with more than 550 registered buyers from more than 20 countries including Canada, USA, Thailand, Singapore, India, Pakistan and various countries throughout Europe.

Commenting on the record breaking sale, Jonny Marston, partner at KPMG and joint administrator of Pulse Flexible Packaging, commented: “While we hoped that the auction would receive high levels of interest, we are delighted that Sanderson Weatherall was able to reach such a large number of potential buyers, helping to make the sale a real success and realising significant value for creditors of the administration.”

Mark Weston, partner in our machinery and business assets team commented: “We are very pleased to have managed such a successful sale. It is incredibly rare for such high specification equipment to come to market in the packaging sector and the amount raised at the auction reinforced the high quality of equipment on offer.”

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Auctions & Disposals

We offer a comprehensive range of services relating to machinery and business assets valuation and disposal requirements. Whether you require a detailed valuation of machinery or a desk appraisal we can advise you. As part of our disposal services we offer assets for sale by online auction, tender or private treaty/ negotiated sale, through local to worldwide traditional and digital marketing to targeted individual sectors and general buyers. We place great emphasis on technical expertise, professional integrity & client care and we’re the first firm in our sector to obtain international quality standard ISO 9001 for our plant and equipment valuation and sale services. We are also ISO 140001, OHSAS 18001 (occupational health and safety accreditation), CHAS and Achilles UVDB approved contractor. Our business services are RICS regulated. Monies realised following sales of assets on your behalf are held in our dedicated client accounts. We operate throughout the United Kingdom from our offices in Leeds, London, Manchester, Newcastle upon Tyne, Birmingham, Teesside and Bristol. We also operate overseas and have associate offices in Ireland. Contact Us

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We offer a comprehensive range of services relating to machinery and business assets valuation and disposal requirements. Whether you require a detailed valuation of machinery or a desk appraisal we can advise you. As part of our disposal services we offer assets for sale by online auction, tender or private treaty/ negotiated sale, through local to worldwide traditional and digital marketing to targeted individual sectors and general buyers.

We place great emphasis on technical expertise, professional integrity & client care and we’re the first firm in our sector to obtain international quality standard ISO 9001 for our plant and equipment valuation and sale services. We are also ISO 140001, OHSAS 18001 (occupational health and safety accreditation), CHAS and Achilles UVDB approved contractor. Our business services are RICS regulated. Monies realised following sales of assets on your behalf are held in our dedicated client accounts.

We operate throughout the United Kingdom from our offices in Leeds, London, Manchester, Newcastle upon Tyne, Birmingham, Teesside and Bristol. We also operate overseas and have associate offices in Ireland.

Contact Us

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) [initialized:protected] => 1 [separator] => . ) ) URL: It's been a busy few weeks for our South West team with a number of deals and new instructions. We've compiled a few of our highlights below!

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