View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
June 18, 2019updated 04 Jul 2019 4:23pm

Dawnus Construction assets fetch £5.35m at auction

The sale of Dawnus Construction assets raised £5.35m at auction, according to auctioneers for its administrators.

By Brian Cantwell

The sale of Dawnus Construction assets raised £5.35m (€5.96m) at auction, according to auctioneers for its administrators.

Euro Auctions held a two-day auction on the 13th  and 14th June at the Players Industrial Estate, Clydach, and Llewellyns Quay, Port Talbot, to dispose of the general construction equipment and assets of the construction group known as DCHL (Dawnus Construction Holdings Limited), which went into administration on 15th March 2019.

Last month it emerged that Dawnus owed unsecured debts of £40.5m to other businesses, £5m to its employees, and £3m to HMRC. A secured loan of £1.5m made by the Welsh Government may be paid back, but potentially with some shortfall.

The Dawnus Group businesses, consisting of specialised businesses in construction, development, commercial management, plant hire and recycling, had a turnover of £172m.

The firm had several public contracts in Wales, including building the £12m Kingsway redevelopment in Manchester, three schools in Powys and a flood defence scheme in Cardiff.

The administrators had pointed to a downturn in the construction industry as the main reason for the failure of the business. (https://www.leasinglife.com/news/euro-auctions-to-dispose-of-dawnus-construction-assets/)

Euro Auctions said the sale attracted interest nationally and internationally with over 2,000 bidders from 38 countries viewing the online catalogue, with over 1,800 of those bidders, 85% of the total audience, bidding online.

By the end of the sale, 52% of all successful bids went to online buyers. Whilst many buyers were from the UK and Ireland, strong interest and bidding form European countries including, Poland, Spain, Romania, Netherlands, Portugal, Germany, Cyprus, Bulgaria, as well as the USA, Middle East, Africa and as far away as Australia.

Valuations

A larger range of excavator’s backhoe’s, site dumpers, mini diggers, bulldozers, rollers, telehandlers, and other popular machinery went under the hammer.

In addition, a good complement of ‘site infrastructure’ equipment and buildings, were also disposed of, with buckets and attachments, power shift telehandlers, various configurations of lorries and crew vehicles.

Euro Auctions said notable lots and hammer prices included:

  • £26,000 Massey Ferguson 6499 4WD Tractor c/w 3 Point Rear Linkage, Front Weights
  • £45,500 2015 Bomag BW213D-4I Single Drum Vibrating Roller
  • £50,000 2011 Doosan DL450 Wheeled Loader c/w Bucket
  • £97,500 2012 CAT 740B 6×6 Articulated Dumptruck
  • £130,000              2012 CAT D9R LRC Straight Blade & Tilt c/w Ripper
  • £68,000 2014 McCloskey R155 Tracked Scalper 3 Way Split Screener, CAT 4.
  • £27,000 2013 Scania R440 6×2 Mid Lift c/2015 Scania R450 8×2 Rear Lift Beavertail Plant Lorry c/w Hydraulic Cheese Wedge Ramps, Winch, Fassi F660 16Ton Hydraulic Crane, A/C
  • £155,000              2015 Scania R450 8×2 Rear Lift Beavertail Plant Lorry c/w Hydraulic Cheese Wedge Ramps, Winch, Fassi F660 16Ton Hydraulic Crane, A/C
  • £73,000 2008 Scania R420 8×2 Rear Lift Beavertail Plant Lorry c/w Hydraulic Cheese Wedge Ramps, Fassi F600XP 16Ton Hydraulic Crane
  • £101,000              2018 Scania P370 8×2 Rear Lift Beavertail Plant Lorry c/w Hydraulic Cheese Wedge Ramps, Winch, Reverse Camera, A/C

“The sale was very well attended on the day, with a good crowd of serious buyers; such was the overall interest in the inventory. All equipment sold had been extremely well-maintained and interest was strong. As with all Euro Auctions sales, everything was sold without reserve which resulted in competitive bidding” said Neil McIlwaine, director of sales and business development at Euro Auctions.

“Strong international interest was evident, as is true of all Euro Auction sales, with buyers from the UK being the highest number, followed by Ireland, Netherlands, Poland and Spain, equating to about 40% of all equipment going overseas, such is the global appeal of good quality and well-maintained equipment and machinery.”

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Thursday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Leasing Life