Eddisons Auction Generates Over £8.6m


Eddisons generated proceeds of over £8.6 million at its latest round of auctions in Leeds, Manchester and London.

Over the three days 60% of lots offered sold, with an average price per lot of £157,500.

Highlights included a freehold residential investment in Penclawddd near Swansea. The modern development of four, 4 bedroom houses currently generates income of £35,400 and sold for £780,000. The guide price was £700,000 to £750,000.

Meanwhile, a vacant freehold former farmhouse and outbuildings in Chalfont St Giles in Buckinghamshire achieved £410,000 off a guide of £325,000 plus.
In Wigan a property arranged as 11 self-contained flats producing annual income of £25,200 sold for £299,000, having been offered at a guide of £145,000 plus.

A development site with lapsed planning consent for a mixed commercial and residential scheme within walking distance of Manchester city centre sold for £250,000.

In the Hyde Park area of Leeds a tenanted nine bedroom house currently generating income of £42,120 per annum sold for £360,000. The guide was £350,000 plus.

Also in Leeds a residential development opportunity also proved popular. The site which has full planning consent for a nine storey block of 35 flats sold for £164,000. The guide price was £80,000 to £100,000.

Elsewhere a modern office investment within the Fusion Court development in Garforth which produces annual rent of £23,837 sold for £216,000.The guide was £160,000 to £180,000.

In Wakefield, a vacant former gymnasium and adult education construction workshop offered on behalf of the local Council at a guide of £100,000 plus, sold for £237,000.
Yorkshire Water disposed of the former High Bentham Water Treatment Works in High Bentham, close to the Yorkshire Dales National Park which was knocked down for £130,000.

There was high demand for development land, including a site on Thrumhall Lane in Halifax which achieved £132,000 off a guide of just £35,000 plus
Tony Webber, Director and Auctioneer at Eddisons said: ’This was a good performance with stock selling well in all categories.
‘The demand for development land is a strong indication of renewed developer confidence.’


Written by: Richard Roe on Monday 14/07/2014